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Article: Far East Energy Announces Signing of Letter of Intent on Shouyang CBM Purchase and Sales and Increase in Gas Production From Distant Parameter Well.
- Article from:
- China Weekly News
- Article date:
- November 10, 2009
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Far East Energy Corporation (BULLETIN BOARD: FEEC) announced that a Letter of Intent has been signed for the sale of gas produced from its Shouyang Project. This agreement was signed on October 16, 2009, by the Chinese partner of Far East, China United Coalbed Methane Co. Ltd. (CUCBM) and Shanxi International Energy Co. Ltd. Under the terms of the Production Sharing Contract covering the Shouyang Block, gas produced by Far East and its partner, CUCBM, is sold by CUCBM on behalf of Far East. Shanxi International Energy Co. Ltd intends to transport gas produced from the Far East Shouyang block through a pipeline that it will build directly to the area of Far East's current ...