The parties completed the business combination by way of a three-cornered amalgamation, wherein Condelta, a wholly-owned subsidiary of the company amalgamated with Batavia and have continued as one company under the Business Corporations Act (Ontario) under the name Batavia Energy Inc.
Batavia will continue to pursue the natural gas exploration and development projects of coal bed methane gas in Indonesia and shallow gas in Alberta.
Batavia and its partners on the Sekayu CBM Block spudded the first commercial CBM well in Indonesia in the fall of 2009. The results from the CBM-SE-2 well indicated an economic project, and a second well is planned for the first half of 2010. Batavia is carried on the Sekayu CBM Block up to $13m of field activities.
Batavia said that it will start field activities in 2010 related to its Alberta shallow gas project. The 2010 exploration program includes an aerial resistivity survey, geochemical work, and exploration wells on 2 1/2 townships of land in Southeastern Alberta.
