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CBM Asia provides operational updates on Indonesia assets


Published Aug 26, 2013
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CBM Asia Development Corp.

CBM Asia Development Corp. provided an operational update on its coalbed methane (CBM) properties in Indonesia.

ExxonMobil Joint Venture

CBM Asia and ExxonMobil have agreed to extend the Umbrella Agreement signed on Dec. 19, 2012. Both companies are engaged in amending certain terms of the agreement and the Company with approval from ExxonMobil will announce details in the near future.

“Our confidence in the commercial viability for CBM in Kalimantan is high and we look forward to success in the coming drilling season,” states Alan Charuk, president and CEO of CBM Asia Development Corp. “We expect to be able to release full details of the contract amendment in the near future.”

Tags: CBM Asia Development Corp.



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