Pan Orient Energy (TSE:CEC) has released an update.
Andora Energy Corporation, a subsidiary of CanAsia Energy Corp., has finalized the purchase of a 25% working interest in oil sands leases at Sawn Lake from Northern Alberta Oil Ltd. and Deep Well Oil & Gas, increasing their total interest to 100%. The acquisition, approved by the Alberta Court, solidifies Andora’s position as the sole operator of these assets with an investment of $2 million, which includes taking on certain obligations and a credit bid.
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