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Asean Energy (CSE: ASA) New Listing

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Asean Energy is one of the latest new listing on the Canadian Securities Exchange, and is trading under the symbol ASA, having previously traded as Rift Basin Resources on the TSX Venture Exchange. Concurrent with its new CSE listing, the company has delisted from the TSX Venture Exchange.

Additional Information:

Company: Asean Energy
Website: http://aseanenergycorp.com/
Stock Symbol: CSE: ASA
Date Published: Aug 26, 2014
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch media

Asean Energy is one of the latest new listing on the Canadian Securities Exchange, and is trading under the symbol ASA, having previously traded as Rift Basin Resources on the TSX Venture Exchange. Concurrent with its new CSE listing, the company has delisted from the TSX Venture Exchange.

Asean Energy is a Canadian-based international oil and gas company primarily focused on oil field redevelopment and near-production opportunities, in addition to well-positioned large-target exploration fields in Southeast Asia.

The company is targeting an area in Indonesia known as the Dandangilo & Beji Block, which contains 110 existing wells within an 80 square kilometre area.

Management believes that Southeast Asia and Indonesia and Malaysia in particular represent excellent oil and gas exploration jurisdictions, with established exploration and production activity, reasonable fiscal terms, and relative ease of doing business, where discoveries can be rapidly commercialized.

The company’s objective is to leverage management’s operational experience and contacts to establish a strategic foothold in the oil sector and employ a strategy of attracting farm-in and joint venture participation to reduce risk and shareholder dilution.

Wayne Koshman, CEO, stated: “The Company’s board of directors and management team have concluded that it is in the best interest of the Company and its shareholders to list the company's shares on the CSE, and rename the Company to more clearly portray our focus on Southeast Asian energy projects. We believe that the CSE provides a more efficient, flexible and entrepreneurial platform to move the Company’s business forward, as we continue to build value on behalf of our shareholders."

In Canada, the company recently entered into a definitive farm-in and participation agreement to earn an undivided 50% working interest in a producing heavy oil project located in Saskatchewan.

The project, consisting of eleven heavy oil wells plus one revenue-generating waste water disposal well, located in a proven energy rich geographical area with significant untapped upside potential, is subject to regulatory approval.

Asean has 79.1 million shares outstanding.

For more information, please visit the company’s website www.riftbasinresources.com or contact Rob van Santen, CFO at 604-608-1999 or email RiftBasinResIR@shaw.ca.

I’m Samantha Deutscher for Investmentpitch media
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