CanAsia Energy Corp V.CEC

Alternate Symbol(s): CECAF

Energy Oil & Gas E&P

CanAsia Energy Corp. is a Canada-based junior oil and gas company. The Company is engaged in the exploration for, and the acquisition, development and production of, crude oil and natural gas reserves. The Company, through its subsidiary, Andora Energy Corporation, is focused on developing the bitumen resources at the Sawn Lake property using steam assisted gravity drainage (SAGD) development. The Company has working interests in, four heavy oil sand leases with 27 sections (24.25 net sections) of Sawn Lake Alberta Crown oil sands leases within the Alberta Peace River Oil Sands area. In the Sawn Lake Central area, it operates with a 100% working interest in two oil sands leases with 11 gross sections (8.25 net sections). In the Sawn Lake South area, it operates with a 100% working interest in three oil sands leases with 16 gross sections (16 net sections).

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CanAsia Energy Corp

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Comment by fattailon Sep 22, 2014 3:18pm

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Post# 22959318

RE:RE:RE:RE:Ramba Sells 25% Of Lemang

Risco is buying 25% of Ramba's interest, not the whole reservoir or the whole island . POE recently siesmic shows it has between 15 and 20% of this reservoir but also a large portion of the crest. So let's use 20% for ease in claculations. Risco pays 157.5M U.S. or $170M Cdn for 25% of 80% or 20% of whole reservoir which is the same as POE 20%. Valuation should mean $170M/56M or $3 per share. Also Risco will have to pay for its pro rata development expenses so that does not change calc. Taxes and costs to actually prove POE interest will however affect net value. But still .......

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