Andora Completes Acquisition of Additional Sawn Lake Assets from Receivership

CALGARY, AB, May 17, 2024 /CNW/ – CanAsia Energy Corp. (“CanAsia”) (TSXV: CEC), on behalf of its wholly owned subsidiary Andora Energy Corporation (“Andora”), announced today that Andora has completed the acquisition of certain assets (the “Assets”) of Northern Alberta Oil Ltd. (“NAOL”) and Deep Well Oil & Gas (Alberta) Ltd. (“Deep Well” and, together with NAOL, the “Debtors”) from Ernst & Young Inc., as receiver and manager, including the Debtors’ 25% working interest in 11 sections of heavy oil sands leases in Sawn Lake, within the central Alberta Peace River Oil Sands region, for a purchase price equal to $2 million (which includes the…