CanAsia Energy Corp V.CEC

What Up

[radcat]

I keep checking back to see if Jeff has been up to something. Answer: No. With WCS @ $57 Sawn Lake will not be very profitable if at all.  Will need a much higher WCS price than this. As for getting other exploration blocks in Thailand, it seems to me Sean at VLE has stolen Jeffs thunder with not 1 but 2 amazing deals. Is CEC only interested in bidding on blocks at auction which they may or may not get. Time to go after the low hanging fruit just like VLE did. Since you Jeff did not lead, follow!

P.S. Cudos to you Nozzpack for having the foresight to pick VLE. Very impressive!

[cnotes22]

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[ukrop13]

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[venture009]

Radcat, I am not sure where you are getting your SAGD operating costs but  at a current ($57 x 1.33)= $75.81 Cdn./bbl they better make money. Currently SAGD production costs are below $20 Cdn, so if CEC can't make a go of it at these prices they should get out of the business.  It seems to me this company has spent their time running around Asia looking for an elephant instead of

[Lucky2021]

I think we have been  in consolidation last 3 month I hope we going to sell Alberta assets and focus on Asia exploration, anyway we will hear something next few months 

[venture009]

Lucky a couple of things. With SAGD production it takes approximately  4 to 5 months to start producing once steam has been injected. Because CEC did nothing last year and with possible 1000/bbl/d, CEC missed a possible $18 million ($50 net/bblx1000 bbl/dx365d). They have had approval to increase this to 3200 bb/d. So now they are doing the same thing this year. If they haven't started

[radcat]

For CEC to bring online 1,237 BOPD, $10 million, and an additional $31 million to increase production a further 2,990 BOPD. Money they do not have. The first stage of commercial development is at Sawn Lake Central (where Andora is operator with a 75% working interest) to reactivate the existing SAGD facility and wellpair and drill of an additional wellpair. On a 100% working interest basis

[venture009]

Radcat $10 million is a small investment for production that is a sure thing versus finding and developement costs in Asia. What CEC would be doing in Asia is most likely buying explortory lands, which they would then have to do all the geological work, drill (no guarantee of finding anything) and if they are lucky, equip it to produce it. Good luck with only $10 million. Whereas at Sawn Lake they

[radcat]

I suggest you visit the VLE board and read what they got for $10.8 million as well as their Thai deal #2. Furthermore, WCS closed Friday at $50.77 which is a far cry from the $87.81 expectation management had last year. So you are in favour of spending $10.00 to pump $50.77 gross? Sawm Lake will not be profitable at the current WCS price. Also, the only news release CEC has issued is executive

[venture009]

Radcat, $50.77 is US dollars. The industry has said anything over $30 cdn oil sands companies can make a good profit. I personally know CNQ iis producing forl less than $20/bbl, so I don't know where you are getting your numbers. Look at ATH, MEG or BTE and their steam oil rations isn't any better  than what CEC claimed they have. The attachment I provide gives a good description of