CBM Asia provides an update of its coalbed methane exploration activities (Scandinavian Oil-Gas Magazine)

CBM Asia provides an update of its coalbed methane exploration activities

Published Dec 20, 2013

CBM Asia Development Corp. provides an update of its coalbed methane (CBM) exploration activities in Indonesia.

On December 12 CBM Asia signed a USD30 million Loan with Warrant MoU funding package with a prominent European family office which included a USD15 million letter of credit facility required by ExxonMobil under the Barito Basin farm-in Umbrella Agreement. The MoU was presented to ExxonMobil on December 13. However, CBM Asia was advised by ExxonMobil on December 16 that it planned to exit the Indonesian CBM industry.

Tags: CBM Asia Development Corp.

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