CBM Asia Development Corp. has signed a Production Sharing Contract with the Government of Indonesia for the Kuala Kapuas I CBM block, located in the Barito in the Basin of South Kalimmantan. The signing of the PSC took place during a ceremony at the 12th Gasex Conference 2012 held at Bali, Indonesia.

CBM Asia holds an 80% working interest in the 1,501-km2 Kuala Kapuas I CBM block and will be the operator, with CBM Asia's partner PT Tranaco Utama holding the remaining 20% interest.