The first statement is incorrect because while coalbed methane is indeed extracted from coal seams, it is not pure methane gas. It often contains small amounts of other gases. Additionally, shale gas is not only composed of propane and butane. It predominantly consists of methane. These gases are extracted from shale formations, which are fine-grained sedimentary rocks.

The second statement is also incorrect. India has ample reserves of both coal bed methane and shale gas. In fact, the potential for shale gas extraction in India is estimated to be high owing to the country`s vast reserves of shale formations, particularly in the Gangetic plains, Assam, Gujarat, Rajasthan, and the offshore areas along both the Eastern and Western Indian coastlines.

So, neither of the statements are accurate, thus option 4 (Neither 1 nor 2) is the correct answer.