CBM Asia Development Corp.
TSX VENTURE : TCF
FRANKFURT : IY2
OTC Bulletin Board : CBMDF

CBM Asia Development Corp.

February 17, 2011 13:56 ET

CBM Asia Development Corp.: Warrants Expired

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2011) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces that further to its news release of August 6, 2010 the Company was unable to obtain unanimous written approval from the holders of the share purchase warrants to purchase up to 4,083,916 common shares in the capital stock of the Company (the "Warrants"), as required by the TSX Venture Exchange policies. Therefore the proposed extension of the term of the warrants and reduction in exercise price will not be proceeding. Accordingly, the Warrants granted for a term of two years from August 12, 2008 and exercisable at a price of $0.90 per share expired as of August 12, 2010.

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 the right to earn an estimated 12% participating interest in a production sharing contract ("PSC") for CBM on a 58,349 hectare block located in the South Sumatra Basin where initial exploration drilling of a production test well commenced 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. 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. As geotechnical lead, the Company is responsible for directing a US$5.6 million exploration and appraisal program to November 2011, to determine commercial feasibility of CBM production for the Kutai-West PSC and submit a Plan of Development. The Company has 40% net working interests in a second 56,500 hectare block also in the prolific Kutai Basin. 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 conventional natural gas reserves (Stevens and Hadiyanto, 2004). Between May 2008 and August 2009, 15 CBM PSCs were granted by the Government of Indonesia, representing exploration commitments of US$95.68 million over the next 3 years. 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 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.

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