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CanAsia Energy Corp V.CEC

Alternate Symbol(s):  CECAF

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

Comment by bullhorn3on Feb 04, 2022 12:33am
108 Views
Post# 34395995

RE:RE:RE:Book Value

RE:RE:RE:Book ValueI think that nozzpack is right... as far as the financial status when Sproule signed off their report. Since then, workovers have probably added value, oil has been and is being sold at higher prices than assumed by Sproule. It may yet turn out that these higher prices for Brent may continue for much of 2022 (or beyond, who knows). There may even be parts of the property that have not been adequately explored. Maybe selling the Thai asset is a mistake and shareholders should be more assertive in presenting that option to management.
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