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 > News Release Soon?

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Comment by radcaton Dec 19, 2021 4:38pm

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Post# 34245213

RE:RE:News Release Soon?

My preference is to not sell at any price. If reasonable offers do not happen they should keep the assets. Sawn Lake can produce 600+ quickly, and a production increase to 3,600 has been approved. So no long drawn out approval wait for the interested buyer who ever that might be.

For L-53 there are only 2 buyers I can see which is our 49.9% joint parter or Mr.Yenbamroong Chatchai who hasn't sold a single share since 2016 purchases of 6,300,000 shares. IF there is a newcomer interested in L-53 I would not be surprised if our partner sells as well. The special meeting isn't far off so expect a NR soon.

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