CBM Asia Development Corp. (TSXV:TCF.FWB:IY2) announced its intent to clarify certain statements made in its news release of January 2, 2013. The news release stated that based on recent acreage acquisitions and well testing, the Company was increasing its target of establishing net recoverable gas from its existing acreage positions to 15 TCF (2.5 billion barrels of oil equivalent). The Company clarifies that the figure is the Company’s target goal, and not an actual estimate of resources for its current acreage.
As quoted in the press release:
The Company wishes to clarify that such figure represents the Company’s target goal and does not constitute an actual estimate of resources for its current acreage.