These costs include salaries, and benefits for employees, and fees incurred for consultants and contractors. Personnel and premises costs in the three-month period ending Decemand the period from to Decemwere $171 thousand and $260 thousand, respectively.General and administrative expense in the three-month period ending Decemand the period from to Decemof $565 thousand and $782 thousand, respectively, comprised primarily of expenses related to personnel and premises, external services, and public company costs.
Financial results are from completion of the Arrangement (described below) on Augto December 31, 2022. Cash flow used in operations for the fourth quarter of 2022 and the period from (date of incorporation) to Decemwas $514 thousand ( $0.01 per share) and $617 thousand ( $0.01 per share), respectively.
CanAsia had working capital and non-current deposits totaling $6.2 million and no long-term debt at December 31, 2022.It is anticipated that remaining Q1 2023 activities will be directed towards continued Sawn Lake pre start-up related activities and the monitoring of an onshore Thailand oil and gas licensing round that is anticipated to be announced in 2023, possibly as soon as the late second quarter.” Subsequent Q1/23 activities were focused mainly on the Andora restructuring and included an updated Sawn Lake contingent resources report, effective December 31, 2022. Copies of these documents may be obtained online at or the Company’s website, Commenting today on CanAsia’s 2022 fourth quarter results, President and CEO Jeff Chisholm stated: “Through the last quarter of 2022 the Company was focused on items related to: a) the closing of the sale of Pan Orient Energy Corp., b) the restructuring of Andora Energy Corporation, and c) moving the Sawn Lake SAGD project forward, focused mainly on long lead time environmental work that is required for start-up. The Company is today filing its audited consolidated financial statements as at and for the three months ended Decemand the period from (date of incorporation) to Decemand related management’s discussion and analysis with Canadian securities regulatory authorities.
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