CBM Asia Announces CAD15 Million Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2013) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX VENTURE:TCF)(US:CBMDF)(FRANKFURT:IY2) announces a non-brokered private placement of up to 71,428,572 shares at a price of CAD0.21 per share for gross proceeds of up to CAD15 million (the "Offering").

The net proceeds of the Offering will be used to, among other things, fund the Company's pilot production and/or exploration and development costs on its coalbed methane projects in Indonesia, pay ongoing general and administrative expenses and for unallocated working capital.

A cash finder's fee of up to 6% of the gross proceeds of the Offering may be paid to eligible dealers and finders.

The Offering is subject to the acceptance of the TSX Venture Exchange and is anticipated to close on or about March 29, 2013. All securities to be issued pursuant of the Offering will be subject to a hold period of 4 months and 1 day.

"Resource appraisers from Netherland, Sewell and Associates, Inc. (NSAI) and CBM completion engineers from Advanced Resources International, Inc. (ARI) are conducting their detailed assessments of the Barito Basin CBM blocks in preparation for the Company's drilling projects later this year. Based on discussions with both parties we are more encouraged than ever to pursue this great opportunity," states Al Charuk, President and CEO of CBM Asia. "The funds raised from this private placement will be invested directly into the Barito Basin and Central Sumatra Basin production drilling with the goal of achieving first production by year-end, a critical milestone for CBM Asia. An MOU to sell gas from the Barito Blocks has already been signed."

"Over the past two years investors and the management/Board of Directors have invested alongside one another and have built an impressive portfolio of assets from which our net 15 Tcf ⁽¹⁾ target is based. To date, we have achieved gas to surface at the Sekayu PSC and established a NI 51-101 compliant net prospective gas resource (unrisked) of 981 Bcf ⁽²⁾ from only 6% of our net land position near high priced gas markets. Other companies in the Indonesia CBM industry continue to announce good progress with one MOU to sell CBM for USD10.00/MMbtu."

ABOUT NETHERLAND, SEWELL & ASSOCIATES INC.

Netherland, Sewell & Associates, Inc. was established in 1961 and has offices in Dallas and Houston, Texas. Over the past 51 years, they have built a reputation for reliability matched by a dedication to service and a commitment to integrity. They provide services to the worldwide petroleum industry that include reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services.

ABOUT ADVANCED RESOURCES INTERNATIONAL, INC.

Advanced Resources International, Inc. (ARI) was established in 1991 and has offices in Houston, Texas and Arlington, Virginia, USA. ARI is a leading consultancy providing geology and engineering support on unconventional oil and gas exploration and development to Major and Independent oil companies, governments, and financial institutions.

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 holds various participating interests in five production sharing contracts (each a "PSC") for CBM in Indonesia, with the right to farm-into 4 additional PSCs. Indonesia has one of the largest CBM resources in the world with a potential 453 trillion cubic feet in-place ⁽³⁾, more than double the country's natural gas reserves (Stevens and Hadiyanto, 2004). Since 2008 a total of 54 CBM PSCs have been granted by the Government of Indonesia, representing exploration commitments of well 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". www.cbmasia.ca

ON BEHALF OF CBM ASIA DEVELOPMENT CORP.

Alan T. Charuk, President & CEO

1. See news release dated January 9, 2013.
2. See news release dated January 31, 2013.
3. Society of Petroleum Engineers Paper 88630 (not NI 51-101 compliant). These gas in place estimates have not be 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. There are no assurances that any portion of the estimated gas in place resources will be discovered. Furthermore, the above estimates make no allowance for the recovery of the gas which will depend on, among other things, the reservoir characteristics encountered and future economic conditions.

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. The economics of exploring, developing and operating resource properties are affected by many factors including, but not limited to, the cost of exploration and development operations, conclusions of economic evaluations, unexpected formations or pressures, premature declines in reserves, potential environmental damage, blow‐outs, fires, variations in the amount and saturation of CBM contained in individual coal seams and the rate of production therefrom, fluctuations in gas prices and the availability of capital. There are no assurances that the Company's work programs will result in the discovery of commercially viable or economically producible properties or that the Company will be successful in completing the Offering in whole or in part. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our Canadian continuous disclosure filings available on SEDAR at www.sedar.com including our December 31, 2011 year end annual MD&A dated April 26, 2012 and third quarter 2012 interim MD&A dated November 28, 2012. 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, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL SECURITIES AND THE COMPANY IS NOT SOLICITING AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.