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

CBM Asia Development Corp.

March 20, 2009 18:49 ET

CBM Asia to Initiate Study on Kutai Block

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 20, 2009) - CBM Asia Development Corp. (the Company) (TSX VENTURE:TCF)(OTCBB:CBMDF)(FRANKFURT:IY2) is pleased to announce that the Company, along with its joint venture partners in Indonesia, PT Ephindo, is commencing an internal study of its Kutai coalbed methane ("CBM") block. The Company intends to submit this study to the Government of Indonesia as part of its application for a Production Sharing Contract ("PSC") on the Kutai Block.

President and CEO Al Charuk commented, "This study is a positive step toward obtaining CBM Asia's second PSC in the area, and is part of our plan to lead the CBM market in Indonesia."

CBM Asia Development Corp. is engaged in the business of investigating and acquiring the rights to CBM exploration in Indonesia, followed by the development and delivery of this valuable resource.

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. Investors 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, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • CBM Asia Development Corp.
    Alan Charuk
    (604) 684-2340 or Toll Free: 1-866-504-4755
    (604) 684-2474 (FAX)
    Email: info@cbmasia.ca
    Website: www.cbmasia.ca