CBMDF CBM Asia Developmental Corp (CE)

CBM Asia Development Corp. ("CBM Asia" or the "Company") (TSX.V: TCF) (US: CBMDF) (FWB: IY2) announces that Medco Energi has signed a non-binding Memorandum of Understanding (“MOU”), to conduct the sale and purchase of coalbed methane gas produced during the dewatering stage at the Sekayu Coalbed Methane (“CBM”) Production Sharing Contract (“PCS”), South Sumatra, Indonesia.

Mr. Alan Charuk, Chief Executive Officer and President, commented, “This MOU will facilitate the early sale of coalbed gas from the Sekayu PSC, where CBM Asia earlier this month announced its NI 51-101 compliant Best Estimate of 1.062 trillion cubic feet of unrisked, recoverable gross prospective gas resources. We are currently assisting Medco’s engineering staff to design the pilot production program, expected to be initiated during 1Q-2012.”

Under the terms of the MOU, the Sekayu CBM PSC has been approved by Indonesia’s upstream oil and gas regulator, BPMigas, to sell coalbed methane produced during the dewatering stage for local power generation. The parties involved are working to define terms of a Gas Sales and Purchase Agreement (“GSPA”) that would provide the basis for gas sales and deliveries which are expected to commence during 2012.

ABOUT PT MEDCO ENERGI INTERNASIONAL Tbk

MedcoEnergi is a publicly listed integrated energy company on the Jakarta Stock Exchange, with focus in exploration and production of oil and gas business in Indonesia and Maghreb countries. As an integrated energy company, MedcoEnergi also involves in downstream business by producing LPG, trading and distributing HSD, and producing industrial grade bio-ethanol. It also involves in Power Generation business that produces approximately of 1,500 MW of electricity. MedcoEnergi also strives to nurture other energy businesses by entering into exploration and production of Coal Bed Methane, Coal Mining, Gas Pipeline and Distribution, and Oil and Gas Exploration and Production Services. Its operation areas cover Indonesia - from western to eastern tip, Oman, Yemen, Libya, as well as Gulf of Mexico.

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 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 more than 30 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, 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

For further information on CBM Asia Development Corp., please contact Alan Charuk at (604) 684-2340, or (866) 504-4755, email corpcom@cbmasia.ca or visit our website at www.cbmasia.ca.

For investor relations contact: Micro Cap et al at 1 877 642 7622, or info@microcapetal.com

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.

CBM ASIA DEVELOPMENT CORP.

404-815 Hornby Street Vancouver, BC, V6Z 2E6

T.604.684.2340 F.604.684.2474 TF.866.504.4755

www.cbmasia.ca

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 www.sedar.com 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.

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