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 > Huge news from POE

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Comment by bfwon Oct 28, 2021 11:27am

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Post# 34059002

RE:Huge news from POE

Yeah, I think the company can squeeze $2 per share out of everything....40 cent ROC and then another $1.60 when sales completed.

bfw

SteveDean wrote: This morning's PR ticked every box for me.

They are clearly already in significant discussions with buyers for both Sawn Lake and Thailand considering they expect the transactions to close by mid-'22.

They are going to return the proceeds to shareholders.

They are confident enough that they are already returning most of the Company's cash to shareholders now.

To me, this is fantastic news and I expect the value to shareholders to be very strong.

Steve