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Message: NR results 1st well and spud 2nd
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February 02, 2010 CBM Asia Announces Further Test Results From First Exploration Well In South Sumatra; March Spud Date Set For Second Well |
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| VANCOUVER, BRITISH COLUMBIA, February 2, 2010 - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSXv: TCF) (US: CBMDF) (FWB: IY2), together with Jakarta-based operator PT Medco Energi Internasional Tbk ("Medco"), Ephindo Ilthabi CBM Holdings Inc. ("Ephindo") and Batavia Energy, Inc ("Batavia"), announces further results from the CBM-SE-02 coalbed methane test well in the Sekayu Production Sharing Contract ("Sekayu PSC") block, located in the South Sumatra Basin, Indonesia. CBM Asia also announces the March 2010 projected spud date for Medco's second coalbed methane test well at the Sekayu block. CBM-SE-01 will be located approximately 18 km south of the first test well. Coal seam objectives in the planned well are projected to be below 1500-foot depth, with the potential for significantly higher gas contents. Medco has contracted a rig for this well and initiated site preparation. Protocols for core recovery and gas content measurement at the new well have been strengthened. Core Laboratories has completed a comprehensive analysis of two coals sampled from the CBM-SE-02 well. These tests indicate the methane storage capacity at the relatively shallow sample depth (1074-1082 feet) ranges from 75 to 85 standard cubic feet per ton (scf/ton), computed on a dry, ash-free basis. Based on these measurements, the storage capacity at the deeper planned SE-01 well is projected to be in the range of 90 to 110 scf/ton, or possibly higher. Laboratory analysis of other coal samples from the SE-02 well continues and further results are expected within coming weeks. CBM Asia President and CEO Al Charuk noted that "recent analyses conducted by Core Laboratories on the CBM-SE-02 coal samples confirm the gas storage potential at the Sekayu PSC. In addition, the highly favorable 500-millidarcy permeability measured in this well is an excellent indication of reservoir quality, comparable to permeability found in Wyoming's prolific Powder River CBM basin. While this project is still at an early stage of reservoir evaluation, we are encouraged by the results to date. We anticipate that Medco's planned stepout well will help to extend the CBM potential into a deeper, more prospective portion of the Sekayu block." |
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February 02, 2010 CBM Asia Announces Further Test Results From First Exploration Well In South Sumatra; March Spud Date Set For Second Well |
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| VANCOUVER, BRITISH COLUMBIA, February 2, 2010 - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSXv: TCF) (US: CBMDF) (FWB: IY2), together with Jakarta-based operator PT Medco Energi Internasional Tbk ("Medco"), Ephindo Ilthabi CBM Holdings Inc. ("Ephindo") and Batavia Energy, Inc ("Batavia"), announces further results from the CBM-SE-02 coalbed methane test well in the Sekayu Production Sharing Contract ("Sekayu PSC") block, located in the South Sumatra Basin, Indonesia. CBM Asia also announces the March 2010 projected spud date for Medco's second coalbed methane test well at the Sekayu block. CBM-SE-01 will be located approximately 18 km south of the first test well. Coal seam objectives in the planned well are projected to be below 1500-foot depth, with the potential for significantly higher gas contents. Medco has contracted a rig for this well and initiated site preparation. Protocols for core recovery and gas content measurement at the new well have been strengthened. Core Laboratories has completed a comprehensive analysis of two coals sampled from the CBM-SE-02 well. These tests indicate the methane storage capacity at the relatively shallow sample depth (1074-1082 feet) ranges from 75 to 85 standard cubic feet per ton (scf/ton), computed on a dry, ash-free basis. Based on these measurements, the storage capacity at the deeper planned SE-01 well is projected to be in the range of 90 to 110 scf/ton, or possibly higher. Laboratory analysis of other coal samples from the SE-02 well continues and further results are expected within coming weeks. CBM Asia President and CEO Al Charuk noted that "recent analyses conducted by Core Laboratories on the CBM-SE-02 coal samples confirm the gas storage potential at the Sekayu PSC. In addition, the highly favorable 500-millidarcy permeability measured in this well is an excellent indication of reservoir quality, comparable to permeability found in Wyoming's prolific Powder River CBM basin. While this project is still at an early stage of reservoir evaluation, we are encouraged by the results to date. We anticipate that Medco's planned stepout well will help to extend the CBM potential into a deeper, more prospective portion of the Sekayu block." |
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