Far East Energy Corp. (FEEC.OB) – Exploring for Coalbed Methane in China
As its name suggests, Far East Energy's attentions are focused in China where the company hunts down precious reserves of coalbed methane. This form of natural gas is one exceptional alternative to conventional fuels, and as worldwide oil stores rapidly diminish, even the oil giants themselves are seeking to acquire exploration rights for methane. Yesterday the company announced the completion of its first horizontal well, in the coal beds of Shanxi Province, China. The well was cut nearly three kilometers into the coal seam, with a short-reach and a deviated also being completed. According to initial findings, the well area…