CBM Asia Development

What CBM Asia Development does

CBM Asia Development is a Canadian-domiciled, pure-play coalbed methane (CBM) operator focused exclusively on Indonesia. The company holds interests in five awarded Production Sharing Contracts (PSCs), which are the contractual instruments used under Indonesian law to grant exploration, development, and production rights over defined geographic areas for upstream oil and gas activity, including unconventional gas from coal seams. Operating from Vancouver, British Columbia with a headcount of 1-10 employees, the company is structured as a for-profit entity and previously traded on the TSX Venture Exchange under the symbol TCF. Its strategic focus is the exploration, appraisal, and potential development of CBM resources across its Indonesian PSC portfolio.

The company's revenue model is asset-heavy and contingent on either achieving commercial CBM production or transacting on its PSC interests (via farm-outs, joint ventures, or asset sales). Monetization under a PSC typically involves cost recovery from production followed by profit-sharing with the Indonesian government, with off-take likely directed to domestic gas buyers or LNG/fertilizer off-takers once production is established. The delisted status removes ongoing public disclosure obligations and suggests constrained access to public capital markets or a deliberate restructuring. With a micro headcount and no documented production, funding events, or strategic transactions in the input, the company appears to be in a transitional or sub-scale phase, where advancing PSC commitments toward production will likely require additional capital, partner participation, or asset-level transactions.

Name

CBM Asia Development

Legal name

Grey Eagle Resort & Casino Calgary

Website

https://cbmasia.ca

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

CBM Asia Development is a Vancouver-based, delisted micro-cap pure-play coalbed methane operator holding interests in five Indonesian Production Sharing Contracts, targeting unconventional natural gas resources from coal seams in Indonesia.

Ownership category

akta.pro rank

Product category

Coal Bed Methane Production

NAICS

Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Coalbed Methane (CBM) / Coal Seam Gas (CSG) (EUAAAAAD)

akta.pro secondary industries

Coalbed Methane (CBM) Gathering Systems (TLAGAJAG), Coalbed Methane & Coal Mine Methane (Degasification, Capture) (IMAKAIAL)

Keywords

• Coal bed methane
• Natural gas exploration
• Indonesia upstream
• Production sharing contracts
• Unconventional gas

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Land-Based Casino Gaming: The resort generates revenue from slot machines, table games (Blackjack, Roulette, Baccarat, Craps, Poker variants), high-limit gaming areas, and poker action on the 84,000 sq ft gaming floor with 975+ slot machines and 31+ table games. Revenue comes from player wagers across all gaming categories.
2. Online Casino Gaming: Online platform generates revenue from real-money gameplay including slots, table games, live dealer tables, and game shows accessible across Canada. Players fund accounts via deposits and the platform retains through house edge on games.
3. Resort Hotel & Hospitality: Revenue from hotel accommodations, dining venues (restaurants, lounges, bars), live entertainment events, and concert venue operations within the resort complex.
4. SIGA Rewards Loyalty Program: Points-based loyalty program where players earn rewards based on gameplay activity, redeemable for comps, resort perks, dining credits, and entertainment benefits, driving repeat visits and player retention.
5. Sports Betting: Wagering on major sporting events and virtual sports simulations, complementing the casino gaming experience both on-site and online.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

CBM Asia Development is a Canadian-based pure-play Indonesia coal bed methane (CBM) operator. The company holds interests in five awarded Production Sharing Contracts (PSCs) in Indonesia, focused on the exploration, development, and production of unconventional natural gas (coal bed methane) resources. Operations are managed from Vancouver, Canada, targeting Indonesian CBM acreage under PSC arrangements with the Indonesian government.

Product overview

Grey Eagle Resort & Casino operates as a dual-channel gaming entertainment company consisting of a land-based casino resort and an online casino platform. The land-based offering (Grey Eagle Resort & Casino – Land-Based Gaming) spans 84,000 sq ft in Calgary, Alberta with 975+ slot machines and 31+ table games, complemented by hotel, dining, and live entertainment. The online channel (Grey Eagle Online Casino Canada) extends access to Canadian players nationwide via web and mobile app, offering slots, live dealer tables, sports betting, and tournaments. The SIGA Rewards program provides loyalty benefits for on-site players, while online promotions include welcome bonuses, reload offers, cashback, and tournament events. All operations fall under Alberta Gaming, Liquor and Cannabis (AGLC) regulatory oversight.

Differentiator

Problem solved

Functional benefit

Products and services

• Indonesia Coal Bed Methane Operations (Five PSC Interests) Upstream coal bed methane (CBM) exploration, development, and production operations in Indonesia conducted under five awarded Production Sharing Contracts (PSCs). Targets unconventional natural gas resources in Indonesian acreage under PSC terms with the Indonesian government.

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and major.

• Evolution GamingcoreTechnology or IntegrationEvolution Gaming provides live dealer streaming technology powering real-time Blackjack, Roulette, Baccarat, and game show experiences on the online platform. Their professional studios deliver multi-camera live casino experiences with chat interaction and mobile optimization.
• Pragmatic PlaycoreTechnology or IntegrationPragmatic Play supplies online slot games and live casino content to the platform, offering titles including Gates of Olympus, Sweet Bonanza, and live dealer table games through their certified gaming environment.
• NetEntmajorTechnology or IntegrationNetEnt provides online slot games known for advanced mechanics, immersive visuals, and mobile optimization, including Megaways-style games and feature-rich video slots.
• Play'n GOmajorTechnology or IntegrationPlay'n GO supplies online slot titles to the platform, recognized for innovative game mechanics, bonus features, and cross-platform compatibility.
• MicrogamingmajorTechnology or IntegrationMicrogaming provides online casino games including progressive jackpot network games like Mega Moolah-style titles and a diverse catalog of slot games and table game variants.
• Red Tiger GamingmajorTechnology or IntegrationRed Tiger Gaming supplies online slots with daily jackpots, innovative features, and visually engaging gameplay optimized for desktop and mobile platforms.
• Big Time GamingmajorTechnology or IntegrationBig Time Gaming provides Megaways game engine technology powering slot games like Bonanza Megaways and Extra Chilli Megaways with expanding reel mechanics and high win potential.
• Relax GamingmajorTechnology or IntegrationRelax Gaming supplies online slot games and poker content, known for innovative mechanics, rapid game releases, and aggregated tournament functionality.
• EzugimajorTechnology or IntegrationEzugi provides live dealer casino technology streaming real-time table games including Blackjack, Roulette, and Baccarat to online players across Canada.
• Alberta Gaming, Liquor and Cannabis (AGLC)coreTechnology or IntegrationAGLC is the regulatory body overseeing gaming operations in Alberta. Grey Eagle Resort & Casino operates within Alberta's regulated gaming environment under AGLC oversight, ensuring compliance with provincial gaming standards, operational procedures, and responsible gaming requirements.

Scale indicators6 records

Expansion highlights2 records

Broad incumbents

• Arrow Energy: Australia-based CBM-to-LNG producer, jointly owned by Shell and PetroChina. Comparable as a major CBM operator in the Asia-Pacific region, providing a benchmark for what scaled CBM development can look like.
• Saka Energi Indonesia: Indonesian upstream oil and gas company (subsidiary of Pertamina) operating PSCs across Indonesia. Comparable as a PSC operator with deep Indonesia gas expertise and counterparties.
• Medco Energi International: Indonesian-listed integrated oil and gas company with significant upstream gas operations in Indonesia. Comparable operating geography and gas development orientation.

Emerging players

• San Leon Energy: Small-cap energy company with interests in unconventional gas including CBM/conventional gas in emerging markets. Comparable as a small exploration-led operator with geographic focus outside North America.
• Energy World Corporation: Australia-listed power and gas company with LNG and gas-fired power operations in Indonesia and the Philippines. Comparable as an Asia-Pacific-focused independent gas/power developer operating in Indonesia.

Direct peers

• Green Dragon Gas: Coalbed methane producer focused on China, including the Greka Energy and Panjin properties. Comparable as a CBM-focused exploration and development company operating in the Asian region.
• Far East Energy: Hong Kong/SE Asia-listed CBM pure-play with operations in China and historically Southeast Asia. Directly comparable as a small-cap CBM developer operating in the Asian unconventional gas space.
• Indonesia Energy Corporation (formerly ERC): U.S.-listed (NYSE American) operator focused on CBM and crude oil production in Indonesia. Comparable as a small-cap, Indonesia-focused CBM/energy operator with producing and exploratory assets.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat2 records

Key highlights4 records

Customer concentration

• LinkedInlinkedin.com/company/cbm-asia-development-corp-tcf-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CBM Asia Development