CanAsia Energy Corp V.CEC

10 Well Workover Results

[nozzpack]

Recall that Pan Orient Energy (Siam) Ltd. is currently undertaking an approximately eight to ten well workover program with the aim of increasing oil production and take advantage of the current oil price environment.

This will enhance the asset sale price as 500 boepd may be the result.

In terms of total returns including asset sales, I see upwards to $2 per share , perhaps a tad more..

[Sudirman2]

2$/share. That is certainly an upgrade of your prior forecasts.  Is this recent adjustment mostly coming from price uptick in oil prices?  Not sure your 48$ oil sands cost is the right comparative. Sawn lake is a  remoteSAGD facility with no pipe connectivity, so actual netbacks will be signifiacantly different than a typical Ft Mac oil sands bbl.  

[nozzpack]

That came from the 2019 Reserves pricing. Cost optimization continue to reduce operating costs. Based on the assumptions presented in Chapter 2, the supply costs of crude bitumen for a greenfield steam-assisted gravity drainage (SAGD) project and an expansion phase SAGD project are presented in Figure E.1. The plant gate supply costs, which exclude transportation and blending costs, are C$40