CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) has chosen Netherland Sewell and Associates Inc. (NSAI) to audit the Company’s coalbed methane resources in Indonesia.
As quoted in the press release:
Based in Houston and Dallas, NSAI is a qualified reserves auditor with extensive experience in coalbed methane (CBM) resource auditing, having worked with most of the top operators in every major producing coal gas basin in the world. NSAI will conduct the audit under Canadian standards for disclosure (National Instrument 51-101 Standards of Disclosure For Oil and Gas Activities).
CBM Asia Development Corp. CEO, Alan T. Charuk said:
CBM Asia previously 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. These two blocks account for only 6% of the Company’s lease area in Indonesia, while the remaining acreage has not yet been subjected to an independent audit. We believe NSAI’s experience in all major producing coal gas basins worldwide is integral in their ability to deliver qualified and balanced reports on some of our additional CBM interests in Indonesia. Once NSAI has completed its initial review, CBM Asia will provide an estimate for the report’s release. We believe these audits will help to provide empirical evidence to support CBM Asia’s 15 Tcf net prospective resource target.
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