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CBM Asia’s Partner Medco Energi Spuds First of Three Planned Coalbed Methane Exploration Wells in South Sumatra
Aug. 31, 2010 05:24PM PST
Industrial MetalsCBM Asia Development Corp. (CVE:TCF) announced that Jakarta-based PT Medco CBM Sekayu, a wholly owned subsidiary of PT Medco Energi CBM Indonesia, its operating partner on the Sekayu coalbed methane production sharing contract, has notified the Company that the second coalbed methane exploration well in the Sekayu Production Sharing Contract block located in the South Sumatra Basin, Indonesia, was spud on Saturday, August 28, 2010.
CBM Asia Development Corp. (TSXV:TCF) announced that Jakarta-based PT Medco CBM Sekayu, a wholly owned subsidiary of PT Medco Energi CBM Indonesia, its operating partner on the Sekayu coalbed methane production sharing contract, has notified the Company that the second coalbed methane exploration well in the Sekayu Production Sharing Contract block located in the South Sumatra Basin, Indonesia, was spud on Saturday, August 28, 2010.
The press release is quoted as saying:
CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane (“CBM”) exploration and development opportunities in Indonesia.