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 > Chen / Energy Report

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Comment by radcaton Feb 05, 2022 10:19am

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Post# 34400799

RE:RE:RE:Chen / Energy Report

Now that we have the reserves report, when will numerous third parties present their offers? Our barrels are worth more, we are doing 12 workovers, and drilling 3 new DD wells. All this should be factored into an offer. If there are multiple buyers expressing interest, does this mean a possible biding war?

the Company has been actively engaged with numerous third parties that are currently evaluating the Thailand and Sawn Lake Canada assets.

It is considered highly unlikely that a binding offer for the Thailand asset will occur prior to the completion of the Concession L53 third party year-end 2021 reserves report that is expected to be completed in early February 2022.

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