CBM Asia Reports Final Gas Content Analysis for the CBM-KW-01 Exploration Well at the Kutai West Coalbed Methane PSC, Indonesia
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/07/12 -- CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) reports high final gas content values with excellent gas quality have been measured at the Kutai West Coalbed Methane Production Sharing Contract ("Kutai West CBM PSC"), located in East Kalimantan, Indonesia. Newton Energy Capital Limited operates the Kutai West CBM PSC, in which CBM Asia holds an 18% working interest.
Contractor PT GeoServices measured the gas content of seventeen (17) coal samples that were cored from the CBM-KW-01 exploration well. The final gas content ranged from 155 to 359 ft3/ton (average 275 ft3/ton), reported on an industry-standard "dry, ash-free" basis. The concentration of methane and other hydrocarbon gases averaged over 97% with low CO2.
"Gas content averaging 275 ft3/ton is much better than expected and some of the highest measured to date in Indonesia," noted CBM Asia Chairman Scott H. Stevens. "By comparison, it is over five times higher than in the Powder River Basin, Wyoming, USA, which the US Geological Survey considers to be Indonesia's closest commercial analog and the world's second most productive CBM field at 1.4 Bcfd. High gas content is an excellent indicator for the upcoming production pilot program at Kutai West."
