Search results for: CBM Asia

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  • 29 April 2014

    CBM Asia Development announced an update on CBM production operations at the Kutai West PSC, where the company holds 705 Bcf of net prospective recoverable resources. The company also announced the resignation of board member Adam Clarke and the return of Keith Potter to his former position as General Manager, Indonesia. During the past few […]

  • 19 December 2013

    CBM Asia Development provided 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. […]

  • 23 August 2013

    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 December 19, 2012. Both companies are engaged in amending certain terms of the agreement and the Company with approval from ExxonMobil will announce […]

  • 28 July 2013

    CBM Asia announced a non-brokered private placement of up to 50,000,000 shares at a price of CAD0.10 per share for gross proceeds of up to CAD5.0 million in place of the Company’s previously announced private placement on May 9, 2013. The net proceeds of the Offering will be used to, among other things, fund the […]

  • 27 January 2014

    CBM Asia Development Corp. said that Alan T. Charuk has resigned as the President, Chief Executive Officer and Director of the company. The Board of Directors of the company has elected Charles W. Bloomquist, formerly VP of Operations as well as a co-founder and director of CBM Asia, as the new President and Chief Executive […]

  • 19 February 2013

    CBM Asia Development Corp. said it has selected Netherland, Sewell and Associates, Inc. (NSAI) to audit some of the company’s additional coalbed methane resources in Indonesia. Based in Houston and Dallas, NSAI is a qualified reserves auditor with extensive experience in coalbed methane (CBM) resource auditing, having worked with most of the top operators in […]

  • 16 September 2013

    The International Chamber of Commerce (ICC) has ruled against CBM Asia’s claim on the Kutai II CBM production sharing contract, East Kalimantan. The company had previously written off 100% of its $40,546 investment in the property during the second quarter of 2011. TCBM Asia entered into a partnership with PT Ephindo for initial study of […]

  • 21 February 2014

    CBM Asia Development announced that the Board of Directors has promoted Keith Potter to Vice President of Operations of the company. Potter joined CBM Asia in November 2012 as general manager, Indonesia. He will continue in this role as well as assuming his new position as VP of Operations for the company. Keith has a […]

  • 27 September 2013
    Project & Tenders

    CBM Asia Development saids that it has signed a non-binding Memorandum of Understanding (MoU) with a Multinational Gas Company (MGC) to conduct a technical and market study of a CBM-to-LNG facility(s) with a potential capacity of up to 50 MMcf/d in South Kalimantan, Indonesia. As specified under the MoU CBM Asia’s responsibilities are; 1.      To […]

  • 8 November 2012
    Project & Tenders

    CBM Asia Development Corp. announced that it is in negotiations with ExxonMobil to farm into three existing coalbed methane production sharing contracts (PSC) in the Barito Basin, South Kalimantan, Indonesia and acquire rights to farm into certain additional PSCs in the Kutai Basin, East Kalimantan. CBM Asia and ExxonMobil would hold equal ownership interest in […]

  • 21 December 2012

    CBM Asia Development said that it has signed a joint venture agreement with ExxonMobil to farm into four existing coalbed methane production sharing contracts (PSC) in the Barito Basin, South Kalimantan, Indonesia and acquire rights to farm into certain additional PSCs in the Kutai Basin, East Kalimantan. CBM Asia and ExxonMobil would hold equal ownership […]

  • 21 November 2011

    CBM Asia Development Corp. announced that Mr. Keith Potter, M.Eng. has been appointed General Manager for Indonesia, effective immediately. Mr. Potter brings to CBM Asia over 29 years experience in the international oil and gas industry, including 10 years in Indonesia and 12 years successfully financing and developing early stage coalbed methane projects. Most recently, […]

  • 8 January 2013

    CBM Asia Development announced its 2013 work program designed to see first commercial gas flows, upgrade resources and potentially generate revenues. Following the exploration successes of 2012, 2013 work program is production orientated incorporating two production pilot programs, one in the Barito basin and the other in Central Sumatra, as well as dewatering activities at […]

  • 31 January 2014

    CBM Asia Development Corp. sad it has elected Anton Tjahjono as a Director of CBM Asia Kuala Kapuas, a subsidiary of the company. Tjahjono is a 40-year veteran of and distinguished figure within Indonesia’s oil and gas industry since he co-founded PT Tranaco Utama in 1977, where he currently is Senior Vice President. Tjahjono was […]

  • 6 March 2013

    CBM Asia Development announced a non-brokered private placement of up to 71,428,572 shares at a price of CAD 0.21 per share for gross proceeds of up to CAD 15 million. The net proceeds of the Offering will be used to, among other things, fund the Company’s pilot production and/or exploration and development costs on its […]

  • 14 December 2011

    CBM Asia Development Corp. said that it has been informed by the operator Newton Energy Capital Limited, that the first coalbed methane exploration core well (CBM-KW-01) in the Kutai West Coalbed Methane Production Sharing Contract block, located in East Kalimantan, Indonesia, was spud on December 12, 2011. CBM Asia holds an 18% working interest in […]

  • 4 January 2013

    CBM Asia Development Corp. announced that due to a sharp increase in the level of interest from the UK investment community the Company has retained the service of Buchanan Communications Ltd., subject to the acceptance of the TSX Venture Exchange. Buchanan Communications Ltd., based in London, UK, will provide investor relations services to the Company […]

  • 8 June 2012

    CBM Asia Development Corp. announces that it has completed the final tranche of its non-brokered private placement totalling 12,876,208 units at a price of $0.18 per Unit for gross proceeds of $2,317,717. In total, the Company issued 88,972,222 Units representing gross proceeds of $16,015,000 for a total of 167,761,809 common shares currently outstanding. Each Unit […]

  • 15 May 2012

    CBM Asia announced it 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 […]

  • 2 October 2012

    CBM Asia announced that it has received formal notification from the Director General of Oil & Gas (MIGAS) to begin a Joint Study of the 1,382 km2 Riau Area CBM Block. Under the Joint Study Agreement CBM Asia and its partner PT Tranaco Utama will conduct geological studies in cooperation with an Indonesian University to determine […]

  • 5 September 2012

    CBM Asia Development said it has been informed by the Director General of Oil and Gas (MIGAS) of Indonesia that its tender submitted for the Kuala Kapuas I CBM block, located in the Barito Basin of South Kalimantan was successful. CBM Asia will now be invited by MIGAS to finalize terms and conditions for a […]

  • 27 November 2013

    CBM Asia signed a Memorandum of Understanding with PT Navigat Energy to supply up to 5.0 MMscf/d of coalbed methane from its planned production pilot to gas engine power generation projects in the Barito Basin, South Kalimantan, Indonesia. The two parties will proceed to negotiate with PT PLN, Indonesia’s state power supplier, on the sale […]