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 > Presentation Dec 1st, 2020

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Comment by InvestInYouon Jan 15, 2021 9:25am

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Post# 32304803

RE:Presentation Dec 1st, 2020

Also taken from their December presentation:

> working capital + deposits + 2019 2P Reserve Report = $1.42/share
> working capital + deposits + 2019 3P Reserve Report = $2.09/share

With an updated Reserve Report expected shortly the numbers above should increase. Further, the cash component should increase given current oil pricing, thus protecting investors downside. I reiterate my view that this opportunity carries limited downside (due to current cash) and immense upside in the event Management looks to liquidate Thailand, as they eluded to.

Of perhaps further interest I noticed that POE was buying back shares in late December for as high as $0.78/share.

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