VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/04/11) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX-V:TCF - News)(US: CBMDF) (Frankfurt:IY2 - News) announces that MedcoEnergi penetrated 147 net feet of coal in the CBM-SE-04 exploration well at the Sekayu coalbed methane production sharing contract in South Sumatra, Indonesia. More than 20 coal core samples are undergoing gas content desorption.
On-site contractor Core Laboratories N.V. estimates gas content of up to 96 ft(3)/ton (as-received basis). As desorption continues, final gas contents are likely to be in excess of 100 ft(3)/ton (dry, ash-free basis). The new gas content data confirm the high (93%) coal seam gas saturation level measured by Weatherford International Ltd. at the CBM-SE-02 well, located 7 km northeast of the CBM-SE-04 well.
The coal cores, recovered from the Palembang B coal interval at an average depth of 2,100 feet, were observed to be naturally fractured and effervesced gas bubbles at the surface, which may indicate good gas content and permeability. CBM Asia's VP of Exploration James M. Charuk supervised coring and desorption operations along with Medco Energi geologists.
MedcoEnergi now plans to core the nearby CBM-SE-01 and CBM-SE-03 wells, which already have been pre-drilled and cased to the top of the coal section. Final gas content measurements for the three wells are expected to become available during the coming weeks, after which the Company plans to engage the services of a Qualified Reserves Evaluator to audit the coalbed methane resources of the block based on Canadian Standards of Disclosure for Oil and Gas Activities.
About Core Laboratories N.V. and Weatherford International Ltd.
Core Laboratories N.V. and Weatherford International Ltd. are leading global oilfield service companies active in testing and evaluating conventional and unconventional petroleum resources.
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