CBM Asia Enters Joint Operating Agreement in Kutai Basin
BM Asia Development announced that through Kutai West it has entered into a Joint Operating Agreement ("JOA") with Newton Energy CBM on the Kutai West PSC in the Kutai Basin, East Kalimantan, Indonesia. Kutai West is jointly owned by Ephindo IIthabi CMB Holding and CBM Asia on a 60/40 basis. Newton Energy will act as the operator on the block.
The Kutai West JOA establishes the rights and obligations of participating interest owners in conducting exploratory and development programs on the block. The work program for 2010 consisting of a minimum of four (4) wells has been submitted and accepted by Indonesian Executive Agency for Oil and Gas Upstream Business Activities ("BPMigas").
- CBM Asia Plans to Commercialize Resource in Kutai West PSC in Kalimantan (Apr 07)
- CBM Asia Provides Operational Updates on Indonesia Assets (Aug 23)
- CBM Asia, ExxonMobil Ink Indonesia PSC Agreement (Dec 20)