CBM Asia selects Netherland, Sewell to audit CBM

By Peni Pedriawan

CBM Asia Development Corp. has selected Netherland, Sewell and Associates, Inc. (NSAI) to audit some of the Company's additional coalbed methane resources in Indonesia.

NSAI will conduct the audit under Canadian standards for disclosure (National Instrument 51-101 Standards of Disclosure For Oil and Gas Activities).

Alan T. Charuk, the CEO of CBM Asia Development said on Monday that previously his company selected NSAI to audit its interests in the Sekayu and Kutai West PSC's which determined a net 981 Bcf of recoverable unrisked prospective gas resource.

He said that these two blocks account for only 6 percent of the Company's lease area in Indonesia, while the remaining acreage has not yet been subjected to an independent audit.

?We believe these audits will help to provide empirical evidence to support CBM Asia's 15 Tcf net prospective resource target," he said.

Based in Houston and Dallas, NSAI provides services to the petroleum industry that include reserves reports and audits, acquisition and divestiture evaluations, simulation studies, and exploration resources assessments.

Editing by Benget Besalicto Tnb.