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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 May 01, 2024 2:19pm
160 Views
Post# 36017853

April 29 news release

April 29 news releaseNice release; Looks as though CEC will now own the Sawn Lk. property 100%., which should allow for a possible jv. It's doubtful CEC will try to develope this property themselves, since they have shown relutance do so over the past. 3 years of elevated oil prices have been missed and now they are stepping forward. Their 2015 investment was at the tail end of of an energy boom, lets hope they haven't done it again. If they do plan to go alone, then a financing of some sort is on the horizon. 
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