CBM Asia Development Corp.
OTC Bulletin Board : CBMDF

CBM Asia Development Corp.

March 29, 2011 12:12 ET

CBM Asia Engages Micro Cap et al as Investor Relations Consultant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2011) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(OTCBB:CBMDF)(FRANKFURT:IY2) announces that the Company has retained Micro Cap et al to provide investor relations and corporate communications services. Micro Cap et al has been retained for a period of eighteen months, subject to a three month trial period, and will be responsible for a presentation CD, broker/investor due diligence package, media package, corporate profile and brochure, and handling of shareholder enquiries regarding the Company. Micro Cap et al will receive $5,000 (plus H.S.T) per month in remuneration and be reimbursed for all approved expenses, and the Company has granted stock options to Micro Cap et al to acquire 300,000 shares in the capital of the Company at an exercise price of $0.17 per share, which options shall vest as to 25% every three months during the first year.

Pursuant to the News Release dated March 7th, 2011, the Company advises that it will not be proceeding with the repricing of 1,666,000 stock options to directors and officers. The Company wishes to amend the number of stock options granted from 2,726,000 stock options to 2,454,000 stock options. The exercise price shall remain at $0.17 per share and the options shall have a term of five years.


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 Medco Energi, 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". http://www.cbmasia.ca


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.

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