Following the announcement in regard to the development plans of the Kutai West PSC (April 4, 2014), CBM Asia Development Corp. announces an update on coalbed methane production operations at the block, where the Company holds 705 Bcf of net prospective recoverable resources.1 The Company also announces the resignation of board member Adam Clarke and the return of Keith Potter to his former position as General Manager, Indonesia.
During the past few weeks the KW-CBM01 well at Kutai West has been undergoing initial production testing. Operator Newton Energy has installed a progressive cavity pump in the well and is adjusting pump rates and position to optimize dewatering and gas production. Although the well is an isolated CBM test and at a very early stage of dewatering, already gas rates of 16 Mcfd have been measured. This confirms earlier testing which indicated a high degree of gas saturation. The longer term plan is to drill four new wells surrounding the KW-CBM01 well for improved dewatering and higher gas production.