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 Public_Heelon Nov 18, 2016 10:12am

311 Views

Post# 25480302

RE:RE:RE:RE:RE:RE:Buying opportunity coming ?

I think they needed to drill the first well. Hard to say what the first well showed, but it looks
like they are sitting on the gas cap of a gas-oil formation. That would make their lease
less commercial than we would have hoped. They need to drill a second well not just to
delineate the aerial extent of the formation, but also to see if they can get more oil and
less gas.

Seems like they are just waiting to see if the GOI gives them a break. That Petrochina owns
the rest of the formation is not encouraging, as they may use their influence to see to it that
POE's lease becomes available to them.

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