CBM Asia Development Corp. (TSXV:TCF) announced its plans for 2013 to support first commercial gas flows, upgrade resources and potentially generate revenues.
As quoted in the press release:
Following the exploration successes of 2012, our 2013 work program is production orientated incorporating two production pilot programs, one in the Barito basin and the other in Central Sumatra, as well as dewatering activities at the Sekayu PSC and the Kutai West PSC. The production pilots are planned in areas where CBM Asia holds operatorship, thus avoiding reliance on outside partners.
CBM’s President and CEO, Alan Charuk, said:
With the number of core wells drilled and dewatering tests conducted by us and other CBM companies in Indonesia we believe there is enough geological evidence to support an accelerated drive into small-scale production pilots. We are currently gearing our operations towards that goal and with the Company in operatorship control we can reduce unforeseen delays as witnessed at the non-operated Sekayu PSC in 2012.
To view the whole press release, click here.