CBM Asia receives approval for Work Program

Vancouver-based firm CBM Asia Development Corp announced Tuesday that it has received approval for its initial coal-bed methane (CBM) drilling program on the Kutai West PSC in East Kalimantan.

"We are sourcing service companies and expect to announce our first spud date as soon as the bid process is completed by BP MIGAS. This process could take several weeks." Al Charuk, president of CBM Asia said.

On November 13th, 2008, CBM Asia, as a member of the consortium of Newton Energy and Kutai West CBM, signed a production sharing contract with the Government of Indonesia to explore, develop and exploit CBM potential in the Kutai Basin. This PSC is 30 km from the Bontang LNG plant.(alex)