Oil and Gas
Commercial Solutions Inc. (TSX:CSA) announced its second quarter financial results for the three-month and six-month periods ended March 31, 2013, and reported revenues of $27.8 million.
Big Sky Petroleum Corporation (TSXV:BSP) reviewed the Company’s activities in Q1 2013 and also announced its future plans for 2013. Q1 2013 was a successful first quarter for the Company, as they announced two lease block acquisitions and the drilling of the first Wolfberry test. In regards to the Schleicher Prospect Evaluation, a NI 51-101 compliant report was filed by Petrotech Engineering Ltd. and can be found on SEDAR. The Company plans to continue expanding their projects in 2013, by continuing to conduct a leasing program within the Schleicher Prospect area that will target highly selective areas for further development.
Saturn Minerals Inc. (TSXV:SMI,FWB:SMK) completed the first phase of a 2D seismic survey over oil & gas Exploration Permit 71 in the northern Williston Basin in eastern Saskatchewan. The results indicate that the seismic line crosses over three significant basement structures.
Westcore Energy Ltd. (TSXV:WTR) released an update on the Riverside oil and gas property, which is owned by Allstar Energy Limited. A six well drilling program commenced in December 2012 on the property and the completions of the first two wells commenced in January 2013. Allstar intends on perforating the Success A zone on the second of the 2 new wells, and oil from the upper zone is reproted to be of a higher quality than experienced in the lower zone.
CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) is reviewing the $15,000,000 non-brokered private placement that was announced on March 6, 2013. Offers for multi-year financing structures from various investors and oil & gas companies in Indonesia have been received, and the Company is currently evaluating the terms and conditions of the offers.
CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) is revising the $15,000,000 non-brokered private placement that was announced on March 6, 2013. The Company has received offers for multi-year financing structures from various investors and oil & gas companies in Indonesia, and the Company is currently evaluating the terms and conditions of the offers.
CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) has chosen Netherland Sewell and Associates Inc. (NSAI) to audit the Company’s coalbed methane resources in Indonesia.
Big Sky Petroleum Corp (TSXV:BSP) drilled the Schafer No.1 vertical Wolfberry Well on January 18th, located on its Texas Midland Basin Property. The Well is scheduled to be completed and frac’d during the week of February 18th.
CBM Asia Development Corp. (TSXV:TCF,US:CBMDF,FWB:IY2) announced that Qualified Reserves Evaluator Netherland, Sewell & Associates, Inc. (NSAI) completed the coalbed methane resource estimate for the Kutai West Production Sharing Contract in Indonesia. There was an estimated 80% probability of geological discovery and a gas content of 300 scf/ton (dry, ash-free basis). The NSAI technical report was filed on SEDAR.
CBM Asia Development Corp. (TSXV:TCF) is a Canadian unconventional gas exploration company with significant coalbed methane (“CBM”) exploration and development projects in Indonesia. The Company holds various participating interests/rights in nine CBM production-sharing contracts (PSCs) and options to participate in a minimum of nine more. Indonesia has one of the largest CBM resources in the world with a potential 453 trillion cubic feet in-place, more than double the country’s natural gas reserves.
