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CBM Asia Development Corp. (TSXV:TCF,FWB:IY2) reiterated its focus on achieving commercial gas production this year and selling it into the high-priced Asian markets.
As quoted in the press release:
Our new CEO Charles W. Bloomquist (B.S., Petroleum Engineering, Colorado School of Mines) has 40 years of operating experience in Indonesia and North America. Charlie knows our assets and is single-mindedly focused on commercializing the Company’s nearly 1 Tcf of audited resources this year. He and Chairman Scott Stevens were among the first to recognize and promote the exploitation of Indonesia’s CBM beginning 20 years ago. Our Indonesia GM and VP Operations, Keith Potter, with 10 years experience in the coalbed methane and natural gas industries in Indonesia, is a key element of our management team working closely with Charlie to realize this objective.
CBM Asia has substantial CBM resources – nearly 1 Tcf of audited net recoverable prospective resources in two well-positioned blocks. The Company strongly believes that even small-scale levels of commercial production will greatly enhance the already substantial value of these assets.
Click here to read the CBM Asia Development Corp. (TSXV:TCF,FWB:IY2) press release
Click here to see the CBM Asia Development Corp. (TSXV:TCF,FWB:IY2) profile.