Far East Energy Corp. (FEEC.OB) to Drill through the Winter, Emboldened by Soaring Output
Far East Energy Corp., a Houston, Texas-based energy corporation that focuses on development and exploration of coalbed methane (CBM) reserves in China, announced a rigorous new winter drilling program today. This robust new program was initiated in response to the skyrocketing gas production of its Shouyang Block in Shanxi Province. Financing for the drilling operations will come from a $4.5M registered direct offering completed Dec 2009. In negotiations with three individual, third party interests to sell the production from this operation, FEEC’s current objective is to speed up water removal in the 1H Pilot Area in order to reduce pressure…