One-Page Deal Sheet
CBM Asia, ExxonMobil Ink Indonesian CBM JV
Cbm Asia Development Corp ExxonMobil
Announced Date
December 20,2012
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Barito Basin","Kutai Basin"}
TargetZones:
{"Coalbed Methane (C
Location
Country
Indonesia
Transaction Details: Subscribe to see
CBM Asia Development Corp. has signed a joint venture agreement with ExxonMobil to farm into four existing coalbed methane production sharing contracts (PSC) in the Barito Basin, South Kalimantan, Indonesia and acquire rights to farm into certain additional PSCs in the Kutai Basin, East Kalimantan. CBM Asia and ExxonMobil would hold equal ownership interest in each PSC.
The final terms and conditions of the proposed farm-in remain subject to the negotiation and execution of formal agreements between ExxonMobil and CBM Asia, as well as, among other conditions, government approvals.
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