South Sea Energy Corp (SSGY.OB) is an exciting company that specializes in the exploration and development of coal bed methane (“CBM”) in Indonesia’s vast coal reserves. Currently, the company is well-positioned as the front runner in the country’s unconventional gas sector. The company has been able to put themselves in this position by putting together a top quality and experienced management team. Alan T. Charuk, President of South Sea Energy Corp, joins the company after serving as Vice President of Norwood Resources (NRS.VN). At Norwood, Mr. Charuk shared his expertise in business development and securing financing for major projects in the resource and hydrocarbon sectors.
Joining Mr. Charuk at South Sea Energy is Dr. Harvey S. Price A leading expert on CBM, Dr. Price has consulted with dozens of coal mines on their degasification projects. He helped develop the first theories on CMB’s commercial viability while Executive Vice President of INTERCOMP, an industry consulting firm. Dr. Price was President of a subsidiary of Kaneb Services Inc. (NYSE: XNR) where he managed the worlds’ first simultaneous coal mine degasification and methane production venture. The project produced methane valued at over $300 million during its first 10 years of operation.
Also apart of the South Sea Energy team is Mr. Charles W. Bloomquist. Mr. Bloomquist, a Registered Professional Engineer, has more than 30 years of experience in the oil and gas industry.
South Sea Energy Corp. has entered into a Letter of Intent to acquire 100% of the interest of CBM Asia Development Corp. CBM Asia has entered into a joint venture on a 1,200 km2 exploration block in the Kutei Basin , with estimated competeable CBM reserves of 2.7 Trillion Cubic Feet.
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