Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

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 Jul 15, 2024 11:17am
204 Views
Post# 36132964

RE:RE:RE:What A Joke.

RE:RE:RE:What A Joke.Except when it came to paying the Andora shareholders. The payout for this group, I believe, valued , the Sawn Lake resource based on a $10 million value and yet they quoted a contingency value of $180 million on their statements. In addition they have owned this world class resource for 19 years and they have done nothing to develope it and create shareholder value , at least to date. This whole process - buying out Andora and getting control of 100% of Sawn Lake has taken 2 years. With this time line they could have put this back on production and been producing a minimum 1000 bbl/d. In the mean time the G&A keeps adding up and there doesn't appear to be any urgency. I wouldn't surprise me to see an offer to existing shareholders of $.40  a share for all the outstanding shares, which would make most happy but would mean they would be getting a $180 million resource for under $50 million. We'll see.
<< Previous
Bullboard Posts
Next >>