CBM Asia fails to retain interest in Kutai II
Saturday, September 14 2013 - 04:41 AM WIB
By Alexander Ginting?
Canadian coal-bed methane exploration firm CBM Asia Development Corp has failed to retain its interest in Kutai II PSC in East after the ICC arbitration court has ruled against its claim on the block.
The company in its release on Friday did not give detail.
In 2010, the company was involved in joint acquisition agreement on the block and later was in dispute with the other interest holder regarding its ownership interest in the Kutai II Block.
The block is operated by Ephindo Energy with 73.6 percent interest.