Inside Dating in Asia

CBM Asia Amends Terms of Acquisition of Interest in Coalbed Methane Production Sharing Contract in South Sumatra

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2009) - CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces that further to its news release of August 24, 2009, the Company has elected to enter into a revised letter of intent (the "Revised LOI") with, inter alia, Batavia Energy Inc. ("Batavia") to acquire, indirectly through a holding company ("Holdco"), 24% of South Sumatra Energy Inc. ("SSE") which, together with PT Medco CBM Sekayu ("PT Medco"), the operator, holds a production sharing contract ("PSC") for coalbed methane on a 58,349 hectare block located in the South Sumatra Basin (the "Sekayu PSC"), Indonesia.

Under the terms of the Revised LOI, the Company is required to make a cash payment of US$1,000,000 to Batavia upon closing and incur exploration expenditures totalling US$3,243,500 under the Sekayu PSC on or before December 31, 2012, to earn an estimated 12% working interest in the Sekayu Block PSC. The Revised LOI will also grant CBM Asia the sole and exclusive right to provide, indirectly through Holdco, financing for up to an additional 24% interest in SSE representing the remaining estimated 12% working interest in the Sekayu PSC.

Under the terms of the Sekayu Participation Agreement with Jakarta-based PT Energi Pasir Hitam Indonesia ("PT Ephindo"), Batavia has the exclusive right to earn an undivided 63% interest in SSE (estimated to hold a 50% interest in the Sekayu PSC) for an estimated net 31.5% undivided working interest in the Sekayu PSC, by funding all of SSE's exploration and development expenditures under the Sekayu PSC up to the earn-in cap of US$8,000,000, of which Batavia has funded US$1,500,000 to date. Under the terms of the Sekayu Participation Agreement and the Revised LOI, Batavia and CBM Asia have each committed to incur US$3,256,500 and US$3,243,500 respectively, of the remaining US$6,500,000 Earn in Commitment. Of CBM Asia's share of the Earn in Commitment, the Company is required to spend up to US$1,500,000 within the first 12 months and the balance on or before December 31, 2012. However, the Company may, at its option, elect to terminate the Revised LOI at any time after incurring expenditures of US$1,500,000 for a pro rata reduced interest in SSE. Furthermore, once the Company has made the US$1,000,000 cash payment to Batavia and incurred exploration expenditures totalling US$1,500,000 and provided that it elects to continue to proceed with the project, CBM Asia has agreed to purchase, and Batavia along with its creditor have agreed to sell, CDN$1,000,000 in debt ("Batavia's Debt") 18 months after the Closing Date of the Revised LOI, on terms to be negotiated and mutually agreed to. The acquisition of Batavia's Debt would make CBM Asia Batavia's largest secured creditor as currently constituted. Closing of the Revised LOI is scheduled for November 16, 2009.

ABOUT CBM ASIA DEVELOPMENT CORP. 
CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in Indonesia. The Company has entered into a binding letter of intent to acquire a participating interest in a production sharing contract ("PSC") for CBM on a 58,349 hectare block located in the South Sumatra Basin where initial exploration drilling of a production test well commenced in the second half of 2009. The Company has committed to fund an initial US$3.25 million in exploration expenditures on the Sekayu PSC to prove reserves and submit a Plan of Development to the Government of Indonesia. The Company also has an 18% net working interest in a PSC for CBM on a 76,000 hectare block located in the Kutai Basin of East Kalimantan. As geotechnical lead, the Company is responsible for directing a US$5.6 million exploration and appraisal program to November 2011, to determine commercial feasibility of CBM production for the Kutai-West PSC and submit a Plan of Development. The Company has 40% net working interests in a second 56,500 hectare block also in the prolific Kutai Basin. 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 (SPE, 2004). Between May 2008 and August 2009, 15 CBM PSCs were granted by the Government of Indonesia, representing exploration commitments of US$95.68 million over the next 3 years. The Company trades on the TSX Venture Exchange under the symbol "TCF".

ON BEHALF OF CBM ASIA DEVELOPMENT CORP.

"Alan T. Charuk"

President & CEO

Gas in place resource estimates make no allowance for recovery of the gas. The volumes of gas which may be recoverable will depend on the reservoir characteristics encountered and future economic conditions. These gas in place estimates are not compliant with volumes of oil and gas resources classified as "discovered petroleum initially-in-place" within the meaning of the Canadian Oil & Gas Evaluation Handbook (COGE Handbook). The term "discovered petroleum initially-in-place" is equivalent to discovered resources, and is defined in the COGE Handbook to mean that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production.

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. Investors 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. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.