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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

Post by venture009on Dec 15, 2023 12:57pm
193 Views
Post# 35787005

Dilution

DilutionWell my prediction of diluting the shares, unfortunately, has come to fruition.  They are raisng capital to throw it into Thailand. Anotrher waste of capital.They are going to spend  millions of $ looking for an elephant, like they have done for years and most likely end up with something between 500 bbl/d and 2000 bbl/d (optimistic), when they have a possible 10,000 bbl/d a Sawn Lake with an initial investment of $10 million to get to 3500 bbl/d.What it does do is keep Chisholm in a high paying job and continue to live in Thailand, all at the expense of the shareholder. Nice gig, have a small investment in a company receive a large compensation and do little to create shareholder value. How do these guys continue to do this?
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