CBM Asia Development Corp. has been informed by the operator Newton Energy Capital Limited that final gas content lab reports have been completed for the first coalbed methane exploration test well ("CBM-KW-02") at the Kutai West Coalbed Methane Production Sharing Contract ("Kutai West CBM PSC") block, located in East Kalimantan, Indonesia. CBM Asia holds an 18% working interest in the Kutai West CBM PSC.
"These final gas content results are significantly above our expectations," noted Scott Stevens, Chairman of CBM Asia. "We look forward to confirming these results in the second CBM test well currently being drilled. As mentioned in our previous press release the test results are supported by Dart Energy's exploration results at the Sangatta West PSC to the north and VICO's Sanga-Sanga PSC which lies adjacent to the east."