- CEO
- Jeffrey Howard Chisholm
- Full Time Employees
- 3
- Sector
- Energy minerals
- Industry
- Oil & gas production
- Address
- 505 - 3rd Street SW Calgary AB Canada T2P 3E6
- IPO Date
- May 1, 1998
- Business
- CanAsia Energy Corp. (TSX-V: CEC) is a Calgary, Alberta-based junior oil and gas company incorporated in 2022 that engages in the exploration for, acquisition, development, and production of crude oil and natural gas reserves, with its primary focus on bitumen resources at the Sawn Lake property in Alberta's Peace River Oil Sands region through 100% ownership of its wholly owned subsidiary Andora Energy Corporation; Andora operates the Sawn Lake Central area with a 100% working interest in 11 sections of Crown oil sands leases and the Sawn Lake South area with a 100% working interest in 16 sections, employing steam-assisted gravity drainage (SAGD) technology including a proprietary Produced Water Boiler for staged commercial development targeting up to five battery-scale facilities each capable of 5,000 to 6,000 barrels of bitumen per day, supported by a December 31, 2024 contingent resources report assigning risked best estimate recoverable bitumen of 304.9 million barrels; the company targets the upstream energy sector serving industrial and commercial hydrocarbon demand primarily in western Canada while pursuing international exploration opportunities such as a submitted bid in 2025 for a non-operated 30% working interest in Thailand's L8 concession under the 2025 Onshore Oil and Licensing round with results expected in Q1 2026. Recent developments include Andora's May 2024 completion of the acquisition of additional Sawn Lake assets from the receivership of Northern Alberta Oil Ltd. and Deep Well Oil & Gas (Alberta) Ltd., ongoing strategic review initiated in 2025 encompassing potential divestment, sale, strategic partnership, or joint venture for the Sawn Lake project with preliminary discussions underway with multiple parties following market outreach, and planning for Sawn Lake Central Battery #1 restart in 2026 with a new SAGD wellpair at an estimated $13.7 million capital cost to achieve 1,210 barrels per day plateau production in 2027 ahead of further phased expansions contingent on regulatory approvals, crude oil prices, and project cash flows.