VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 9, 2011) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces that Management will host a conference call and live webcast for analysts and investors on Thursday, May 12, 2011 at 10:00 a.m. Pacific Daylight Time (1:00 p.m. Eastern Daylight Time) to discuss recent well testing results and the outlook for the Company's coalbed methane business in Indonesia.
Conference Call Numbers:
Canada & USA Toll Free Dial In: 1-800-319-4610, local Vancouver 604-638-5340 or Outside Canada & USA Call: 1-604-638-5340.
The call is being webcast and can be accessed at CBM Asia's website at http://www.cbmasia.ca/ or enter the following URL into your web browser: http://services.choruscall.com/links/cbm110512.html
ABOUT CBM ASIA DEVELOPMENT CORP.
CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in Indonesia. The Company has entered into a binding letter of intent to acquire a participating interest in a production sharing contract ("PSC") for CBM on the 58,349-hectare Sekayu block located in the South Sumatra Basin where 3 exploration wells are currently being drilled by MedcoEnergi, following initial exploration drilling of a production test well in the second half of 2009. The Company has committed to fund an initial US$3.25 million in exploration expenditures on the Sekayu PSC to prove reserves and submit a Plan of Development to the Government of Indonesia. Sekayu Block Interests of the Company, Ephindo and Batavia Energy are held in South Sumatra Energy, Inc. The Company also has an 18% net working interest in a PSC for CBM on a 76,000-hectare block located in the Kutai Basin of East Kalimantan. Indonesia has one of the largest CBM resources in the world with a potential 453 trillion cubic feet in-place, more than double the country's natural gas reserves (Stevens and Hadiyanto, 2004). Since 2008 approximately 25 CBM PSCs have been granted by the Government of Indonesia, representing exploration commitments of over US$100 million during the next 3 years. In addition to CBM Asia, other companies active in CBM exploration in Indonesia include BP, Dart Energy, ENI, ExxonMobil, Medco, and TOTAL. The Company trades on the TSX Venture Exchange under the symbol "TCF".
ON BEHALF OF CBM ASIA DEVELOPMENT CORP.
Alan T. Charuk, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Alan Charuk
(604) 684-2340 or (866) 504-4755
(604) 684-2474 (FAX)
corpcom@cbmasia.ca
www.cbmasia.ca
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