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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 venture009on Feb 03, 2023 6:14pm
131 Views
Post# 35266162

RE:RE:RE:RE:RE:What Up

RE:RE:RE:RE:RE:What UpRadcat $10 million is a small investment for production that is a sure thing versus finding and developement costs in Asia. What CEC would be doing in Asia is most likely buying explortory lands, which they would then have to do all the geological work, drill (no guarantee of finding anything) and if they are lucky, equip it to produce it. Good luck with only $10 million. Whereas at Sawn Lake they know they have a producing property with at least 300 million barrels. All the producing companis in Canada with SAGD properties are making record profits. Plus CEC's record with Asia is not very impressive. CEC has had 12 months to get something going. They could have hedged some production to get some cash or they should have been able to find a joint interest partner by now. From a shareholder point of view this has taken a ridiculous amount of time. Also, what about the G&A they currently have, how are they paying for that.
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