Exploration & Production
CBM Asia Recaps 2012 Indonesian Coalbed Ops
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CBM Asia Development Corp. has detailed a 2012 recap of its coalbed methane properties in Indonesia.
2012 Recap Material CBM Acreage Position. CBM Asia acquired material positions in key coalbed methane (CBM) basins in Indonesia, which the Company considers to be in the final stages of Indonesia's CBM industry land grab. Our gross acreage holdings increased to 2.45 million acres (1.25 mn net), up significantly from 0.69 million acres (0.31 mn net) held at year-end 2011. The company also acquired the optionality to acquire a further gross 4.1 million acres (2.13 mn net). Successful Six-Well De-risking Program. CBM Asia and its partners drilled and tested a total of 6 CBM test wells during 2012 measuring higher-than-expected gas content at the Kutai West PSC (Production Sharing Contract)…Finish this article — free account or subscription
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