Far East Energy Corp. (FEEC.OB) Secures Lucrative New Gas Sales Agreement
Far East Energy Corp., www.fareastenergy.com – the Houston-based energy developer with offices in Beijing, Kunming and Taiyuan, and a focus on coalbed methane (CBM) in China, announced the successful completion of negotiations for a gas sale agreement (GSA) with partner China United Coal Bed Methane Corporation (CUCBM) and Shanxi Provincial Guoxin Energy Development Group Co., Ltd. (SPG). The GSA calls for the sale of all CBM from the Shouyang Production Sharing Contract area (the Shouyang Block) at RMB1.5 per cubic meter (which includes all extant Chinese government subsidies), or $6.55 per Mcf (Mcf = 1,000 cubic feet). President and CEO…