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June 27, 2006 - Calgary, AB - Phasis Consulting (Phasis) is pleased to announce the completion of its study titled: The New Face of Coal: CBM an Emerging Supply Trend prepared by Bettina Pierre-Gilles, chief economist of Phasis. The study provides readers with an economic assessment of the market, price, supply and demand as well as key statistics of CBM (coalbed methane) development in Canada, which while still in its infancy, is growing substantially.

As of December 31, 2005, a cumulative total of approximately 6,500 CBM wells were drilled in Alberta; of those, about 2,500 are actively producing CBM. Almost 90 per cent of those producing wells are located in the dry Horseshoe Canyon and Belly River coals. Another six per cent are producing in the Mannville coals, the most recent commercial CBM play in Canada; and three percent of the wells are in the Scollard (Ardley) coals. Other areas within Alberta, British Columbia and Nova Scotia are also being evaluated for their CBM potential.

The New Face of Coal: CBM an Emerging Supply Trend represents the latest, most comprehensive economic analysis available about CBM development in Canada. The study also assesses the socioeconomic benefits of developing this unconventional resource; and examines the issues that could potentially undermine continued development.

This study is a valuable starting point for companies looking to enter the Canadian CBM market and for investors looking at financing CBM projects in Canada.

To view a sample, or to obtain more information on pricing/ordering, please click here.