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Silver North Intersects 1.83 metres True Width of 1,088 g/t Silver, 3.90 g/t Gold (click to learn more)
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Bullboard - Stock Discussion Forum CanAsia Energy Corp V.CEC

Alternate Symbol(s):  CECAF

Energy Oil & Gas E&P
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... see more

TSXV:CEC - Post Discussion

CanAsia Energy Corp > Thailand Book Value Continues to Decline
View:
Post by nozzpack on Mar 17, 2022 8:59am

Thailand Book Value Continues to Decline

Down to just $24 million at exit December 2021.

By exit Q1/22, I see it going below $20 million.

Thats why they can't get a decent offer for those sunset assets.
Comment by SteveDean on Mar 18, 2022 4:31pm
Book value is meaningless with respect to value. Just think through how the accounting works for an O&G company when it is in production rather than development mode as POE Siam is. Every quarter, depreciation of its energy assets will be booked, thereby reducing the value of equity. The company is spending less on new drilling then depreciation (as opposed to during the development phase ...more  
CanAsia Energy Corp