CBM Asia Development Corp. updated its March 6, 2013 announcement of a non-brokered private placement.
The company has received preliminary offers from institutional investors and regional oil & gas companies for multi-year financing structures that would fund the Company through its exploration phases of its coalbed methane Production Sharing Contracts in Indonesia. The company is currently supporting the respective due diligence and expects the process to take several more weeks to be concluded.
The management team and the Board of Directors are evaluating the terms and conditions of each offer and will make further announcements in due course, CBM Asia said.
[mappress] LNG World News Staff, April 02, 2013