Hi Pete01, - you are correct.
However, to get to the point of booking reserves of any size in CBM, you need to spend a lot of capital (tens to many tens of millions of $) to drill and run wells to demonstrate the reserves are there. This also takes a long time (minimum several months) which is also costly. You cannot borrow to fund this sort of activity.
As for asset sales - I don't think there has been a lot of activity in this sector since the end of the boom. I reckon there have been many small companies hoping to sell assets for a few years, but no-one's buying!
Hi Pete01, - you are correct. However, to get to the point of...
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