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CBM Asia announces new CEO

World Coal,

CBM Asia Development Corporation has announced that Alan Charuk has resigned as the president, CEO and director of the company. The board of directors has elected Charles Bloomquist, formerly VP of Operations, as well as a co-founder and director of CBM Asia, as the new president and CEO.

Bloomquist has a degree in Petroleum Engineering from the Colorado School of Mines and has over 40 years of experience in oil and gas investment and operations worldwide. He began working in Indonesia 1970s and has managed oil and gas production sharing contracts, partner agreements, and exploration and development well operations. Bloomquist has helped pioneer Indonesia’s emerging coalbed methane industry since first recognising the country’s potential in 1995. He has been a Registered Professional Engineer in Colorado since 1975 and is a Member of the Society of Petroleum Engineers and the Indonesian Petroleum Association.

CBM Asia chairman, Scott Stevens, commented: “CBM Asia welcomes our long-time colleague Mr. Bloomquist in his new role to lead the company towards early production from our Indonesia coalbed methane properties. In addition to his exceptional technical expertise, we particularly value Charlie’s experience with contracts, negotiations, and partner relations in Indonesia. Our Jakarta team, led by General Manager Mr. Keith Potter, stands ready to implement the company’s 2014 program under Charlie’s leadership. We also thank Mr. Charuk for his many years of service and contributions to the Company since its founding and wish him success in his future endeavors.”

Adapted from press release by Katie Woodward

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