CBM Asia Development Corp. announced that Mr. Alan T. Charuk has resigned as the President, Chief Executive Officer and Director of the company. The Board of Directors of the company has elected Mr. Charles W. Bloomquist, formerly VP of Operations as well as a co-founder and director of CBM Asia, as the new President and Chief Executive Officer.

Bloomquist has over 40 years of experience in oil and gas investment and operations worldwide. Working in Indonesia starting in the 1970's Mr. Bloomquist has managed oil & gas production sharing contracts, partner agreements, and exploration & development well operations.