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cbm asia development corp (TCF) Snapshot

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cbm asia development corp (TCF) Details

CBM Asia Development Corp., an exploration stage company, engages in the acquisition, exploration, and development of gas properties. It holds interests in the five production sharing contracts for coalbed methane in Indonesia. The company is based in Vancouver, Canada.

cbm asia development corp (TCF) Top Compensated Officers

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cbm asia development corp (TCF) Key Developments

CBM Asia Development Announces Transfer Of Listing From TSX Venture Exchange To NEX

In accordance with TSX Venture Policy 2.5, CBM Asia Development Corp. has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on February 13, 2015, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX. Further to the Exchange Bulletin dated July 3, 2014, trading in the shares of the Company will remain suspended.

CBM Asia Development Corp. Announces Executive Changes

CBM Asia Development Corp. announced that Mr. Clint Sharples, a director of the company, has been appointed Chief Financial Officer. Separately, Mr. Keith Potter has resigned as General Manager, Indonesia. Mr. Potter had been with the company as GM Indonesia since April 2012.

CBM Asia Development Corp. Provides Default Status Report; Announces Executive Changes

CBM Asia Development Corp. announced that it has received breach notices from Ephindo International CBM Holding Inc. under its participation agreement dated January 17, 2007, as amended and shareholders agreement dated April 16, 2009 governing the company's participating interest in the Kutai West production sharing contract. The declared breaches arise from the non-payment of two cash calls totaling USD 125,430 due from the company in March and April. The company has 30 days from the date of receipt of the breach notices (being June 9, 2014) to rectify the breaches, failing which the company's interest in the Kutai West PSC may be forfeited. The company also announced the resignation of James Hurren as Chief Financial Officer. Mr. Hurren has agreed to continue with the company in a consulting role to assist in the completion of the company's outstanding audited financial statements for the year ended December 31, 2013, and unaudited financial statements for the first quarter of 2014 pending the company's appointment of a new CFO. Donna Moroney has resigned as corporate Secretary. She and her company, Wiklow Corporate Services Inc., will continue to provide services to the company on a consulting basis.

 

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