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

CBM Asia Development Corp.

May 24, 2011 13:55 ET

CBM Asia Hires Qualified Reserves Auditor Netherland Sewell & Assoc. to Produce NI51-101 Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 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 March 3, 2011 wherein it stated that it would advise on the selection of its Qualified Reserves Evaluator, it has selected Netherland, Sewell and Associates, Inc. (NSAI) to audit the Company's net interests in coalbed methane resources at the Sekayu block. Based in Houston and Dallas, NSAI is a qualified reserves auditor with extensive experience in CBM resource auditing, having worked with most of the top CBM operators in almost every major producing coal gas basin in the world. NSAI will conduct the audit under Canadian standards for disclosure (National Instrument 51-101 Standards of Disclosure For Oil and Gas Activities).

"NSAI's experience working with most of the top CBM operators in almost every major producing coal gas basin in the world is integral to their ability to deliver a report that will be well received." stated Scott H. Stevens, the Chairman of the Company.

ABOUT NETHERLAND, SEWELL & ASSOCIATES INC.

Netherland, Sewell & Associates, Inc. was established in 1961 and has offices in Dallas and Houston, Texas. Over the past 49 years, they have built a reputation for reliability matched by a dedication to service and a commitment to integrity. They provide services to the worldwide petroleum industry that include reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services.

Kutai West Update

CBM Asia Development Corp is pleased to announce that it has been informed by Kutai West PSC operating partner Newton Energy that it has received approval from the Minister of Forestry to proceed with planned coalbed methane exploration drilling within the Kutai West Production Sharing Contract (PSC).

The Kutai West block is located in eastern Kalimantan, Indonesia, directly west of BP's Sanga Sanga coalbed methane PSC. It is about 15 kilometers south of the Bontang LNG facility, which exports liquified about 17 million t of natural gas to Japan annually.

CBM Asia President and CEO Al Charuk comments, "We are very pleased with the work by Newton to acquire this permit and look forward initiating our CBM drilling program."

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 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

ON BEHALF OF CBM ASIA DEVELOPMENT CORP.

Alan T. Charuk, President & CEO

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

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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