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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).


TSXV:CEC - Post by User

CanAsia Energy Corp
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Post by deadderon Mar 18, 2017 11:25am
503 Views
Post# 25997419

Hydra capital write up

Hydra capital write upPan Orient (POE.V) is getting very close to showtime on the Ayu-1 well that is being drilled into the Anggun prospect where Repsol is the operator. This is a big target and it's high risk. It should spud within the next 2-3 weeks based on prior company guidance. POE has roughly $1/share in cash, a nice-looking low-SOR (steam oil ratio) SAGD asset at Sawn Lake, and a bit of production in Thailand to fall back on, but if this well misses POE may get quite a haircut. The stock is up roughly 15% since early January and optimism is in the air. As always, the drill bit (aka the Truth Stick) will tell the tale, but these are the wells that you get out of bed for in this sector. It's high-risk high reward at its best. Roll them dice... a hit on the AYU-1 well could be worth several dollars per share to POE's 49% interest if the initial results are good enough. 
Bullboard Posts
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