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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 Jun 01, 2023 12:33pm
372 Views
Post# 35475126

RE:if we sell Alberta project

RE:if we sell Alberta project With no production to prove it's potential, it's difficult to say. Oil & gas assets are selling between $60,000 and $100,000 per flowing boe. so 1000 boe should garner close to $100 million. But this management have done everything on the cheap and not certain they will even go this route. They seem bent on once again spending their time in Thailand even though they have had "iffy" results in the past. It's just mind boggling to me why they haven't pursied the developement of Sawn Lake, when you look at companies like Athabaska, Meg, Baytex, Cenovus, etc.. making large amounts of cash annually and their production costs are below $20 /bbl. As I said before this company operates along the same lines as a hobby farmer when it comes to energy. The shareholders have kept the executive living well and it's time they rewarded their shareholders for their patience over the years. One thing is certain they have to do something soon or they will run out f money. 
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