VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2012) -


CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces that further to its news release of December 30, 2011, it has completed a second closing (the "Second Closing") of its non-brokered private placement totalling 16,346,714 units (the "Units") at a price of $0.18 per Unit for gross proceeds of $2,942,409, of which 6,002,361 Units totalling $1,084,425 were purchased by directors and officers of the Company.

Each Unit consists of one common share (a "Share") and one transferable share purchase warrant (a "Warrant") to purchase an additional Share at a price of $0.35 for a period of 24 months, subject to acceleration by the Company, at its discretion, after 4 months from closing upon 30 days notice if the closing price of the Company's shares on the TSX Venture Exchange (the "Exchange") equals or exceed $0.50 per share for 20 consecutive trading days.

A finder's fee of 6% is payable on a portion of the gross proceeds raised from the Second Closing, part of which will be paid in common shares of the Company at a deemed price of $0.18 per share. All securities issued pursuant to the Second Closing are subject to a 4 month hold period expiring June 8, 2012.

The Company also announces that, subject to Exchange acceptance, it has increased the size of the private placement from $5 million to $10 million for a total of 55,555,555 Units at a price of $0.18 per Unit, of which 23,513,968 Units representing gross proceeds of $4,232,515 have been issued to date.

The additional proceeds from the increased offering will be used to, among other things, fund the acquisition and exploration costs of the Company's existing coalbed methane projects in Indonesia, identify and, if warranted, acquire new properties and for general working capital purposes.

In managing the immediate and near-term capital requirement of the Company's Indonesian coalbed methane projects, the Board is conducting a review of financial proposals, including equity and non-equity financing options, from a select group of interested parties. Based on market analysis and independent reports, the Board believes the fundamentals of the Asian gas industry remain highly supportive of opportunities within Indonesia's rapidly emerging coalbed methane industry. The Board anticipates completing the third tranche of the private placement shortly.


CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in Indonesia. The Company holds various participating interests in four production sharing contracts (each a "PSC") for CBM in Indonesia. 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 (Stevens and Hadiyanto, 2004). Since 2008 a total of 39 CBM PSCs have been granted by the Government of Indonesia, representing exploration commitments of over US$100 million during the next 3 years. In addition to CBM Asia, other companies active in CBM exploration in Indonesia include BP, Dart Energy, ENI, ExxonMobil, Medco, Santos, and TOTAL. BP, ENI, and the Indonesian government have confirmed that commercial CBM production started in March 2011 from the Sanga-Sanga PSC and is being exported from the Bontang LNG facility. The Company trades on the TSX Venture Exchange under the symbol "TCF".


Alan T. Charuk, President & CEO

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. See "Risks and Uncertainties" in the Company's annual MD&A dated April 27, 2011 available on SEDAR at These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

CBM Asia Development Corp.
Alan Charuk
(604) 684-2340
(866) 504-4755

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