CBM Asia Development Corp. has entered into a Joint Study and Bid Group agreement with Continental Energy Corporation to investigate coalbed methane (CBM) exploration and development opportunities in Indonesia.

Under the agreement, CBM Asia and Continental will jointly and exclusively study selected areas in Indonesia with the objective of identifying geologically favorable areas to be jointly pursued as targets of opportunity for direct acquisition of coalbed methane production sharing contracts (PSC) offered by the Indonesian government. Acquisitions would be by public tender or direct proposal tender conducted under joint study arrangements.

Tags: CBM Asia Development Corp.