CBM Asia Development Corp.: Second Test Well Flaring Gas at South Sumatra CBM Block
NSAI to Complete Resource Assessment 3Q-2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2011) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces that Medco Energi has flared gas at the surface from the CBM-SE-03 test well. It is the second test well to flare gas at the Sekayu coalbed methane production sharing contract in South Sumatra.
As the Company previously reported, the CBM-SE-03 well penetrated over 230 feet of net coal. Medco has isolated a single 50-foot thick coal seam in the well using production packers set at a measured depth interval of 2,300 to 2,353 feet, placing pre-perforated liner across the unstimulated interval. Gas was produced to surface almost immediately, indicating high gas saturation. The flare may be viewed on the Company's website. Weatherford International Ltd. is preparing to conduct a Coreless Critical Desorption Pressure test at this well to measure coal seam gas saturation and gas flow capacity.
Dallas-based Netherland, Sewell, Associates, Inc. (NSAI) is completing its audit of the Company's coalbed methane resources at the Sekayu PSC. NSAI reviewed geologic data on Sekayu at Medco's Jakarta office during late July and is expected to complete its evaluation of the Company's potential coalbed methane resources at the property during the third quarter 2011. This report will be conducted under NI 51-101 Canadian Standards of Disclosure for Oil and Gas Activities.
It's all happened before and it will all happen again. Might as well profit from it.
