The
Toronto-listed
unconventional
explorer
said
that
the
final
terms
remained
to
be
agreed
with
regulator
BP
Migas
for
the
South
Kalimantan
block
after
the
successful
tender.
CBM
is
to
hold
an
80%
operatorship
interest
in
the
1,501-square
kilometre
block,
with
partner
PT
Tranaco
Utama
(Tranaco)
holding
the
remaining
20%.
"We
hope
to
finalize
PSC
terms
with
Migas
within
the
next
two
months
but
have
already
commenced
planning
the
2013
exploration
drilling
program,"
commented
CBM
Asia
chief
executive
Alan
Charuk.
Charuk
pointed
out
ExxonMobil
and
BP
were
already
active
in
the
same
gas-rich
basin.
CBM
Asia
holds
interests
in
a
total
of…
