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

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Post by nozzpackon May 27, 2022 1:14pm

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Post# 34712627

Q2 Contributions to Net asset value

The investment in the Thai JV added $4.5 million to that asset value increasing its value to $33
m , and VLE received its $2.5 million dividend on April 1....$7 million or $0.14 per share increse in net asset value Q1 contribution

Oil prices in Q2 have been higher todate relative to that of Q1.

So, the investment in the Thai JV should see another $4 to $,5 million to perhaps $38 million along with another dividend of perhaps $2 to $3 million.

In addition current workovers should increase Q2) production and perhaps offset reserve declines.

Fwiw

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