Far East Energy Corporation
Far East Energy Corporation is focused on coal bed methane exploration and development in China, with offices based in Houston, Beijing, Kunming, and Taiyuan。
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Far East Energy Corporation wins extension of CBM exploration contracts
Far East Energy Corporation announced that it has received final approval by the Chinese Ministry of Commerce (MOFCOM) of two Modification Agreements that extend the exploration periods of both its Shouyang and Yunnan Production Sharing Contracts (PSCs) by two years apiece to June 30, 2011.
The Modification Agreements also revise other terms of the PSCs and the Company has included the Modification Agreements in the Form 8-K filed with the Securities and Exchange Commission on August 27, 2009.
"While we were quite confident that our exploration periods would be extended due to the fact that Far East has been among the most active foreign companies in CBM exploration over the past five years, nevertheless we are pleased to have formally obtained extensions allowing us time to further expand exploration efforts," said Michael R. McElwrath CEO and President of Far East.
