CBM Asia hires ARI to evaluate CBM resources
Friday, March 4 2011 - 12:51 AM WIB
Vancouver-based firm CBM Asia Development Corp. announced Thursday that it has signed a technical consulting agreement with Advanced Resources International, Inc. (ARI) to analyze the new reservoir data expected from Sekayu CBM PSC onshore South Sumatra and advise the company on testing its other CBM projects in Indonesia.
ARI's experience bringing international CBM exploration projects to production is expected to be invaluable in commercializing the Company's CBM interests in Indonesia, the company said.
Once the new well data becomes available, likely during the second quarter of 2011, ARI will advise the company and its Qualified Reserves Evaluator in auditing the CBM resources at Sekayu, based on Canadian NI 51-101 Standards, it added.
CBM Asia has the right to earn an estimated 12% participating interest in Sekayu CBM PSC. It also has 18% interest in Kutai West CBM PSC in East Kalimantan.(alex)