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 > Andora Energy

<< Previous

Bullboard Posts

Next >>

Comment by nozzpackon May 04, 2022 6:11pm

133 Views

Post# 34656823

RE:RE:RE:RE:Andora Energy

It seems from a logical point that the Seller has been forced into accepting the Green lunacy , hence Andora had to pay only a nominal sum of $0.5 m.

The logic behind Andora accepting the collateral commitments given POE's intent to offload Sawn Lake can only be viewed as indication that POE has found a buyer.

Sawn Lake is a viable asset at $100 oil.

I doubt that we will get very much but to offload the commitments will be worth it.

We are now into the early timing for asset sales...almost certainly May
Good to see..