Last $0.04 USD
Change Today +0.0015 / 3.90%
Volume 404.9K
FEEC On Other Exchanges
Symbol
Exchange
OTC US
Stuttgart
As of 3:53 PM 12/17/14 All times are local (Market data is delayed by at least 15 minutes).

far east energy corp (FEEC) Key Developments

Far East Energy Announces Further Extension of Existing Loan Facility

Far East Energy Corp. announced a further extension of the maturity date of its existing Facility Agreement with Standard Chartered Bank (SCB). The maturity date of the Facility Agreement with SCB has been extended to December 31, 2014, from the previous maturity date of December 5, 2014.

Far East Energy Announces Further Extension of Existing Loan Facility; Announces Completion of Gas Plant

Far East Energy Corporation announced a further extension of the maturity date of its existing Facility Agreement with Standard Chartered Bank (SCB). The maturity date of the Facility Agreement with SCB has been extended to December 5, 2014, from the previous maturity date of October 31, 2014. The construction of a large scale gas consuming facility adjacent to FEEC's final compressor station has now been completed and put into operation. The complex comprises a combined cycle power plant, and an LNG plant, designed to use CBM as a gas supply. Additionally, the complex can also supply vehicles with CNG. The power plant is the large peak load provider in Shanxi Province and was completed in just under two years, highlighting Shanxi Province's commitment to improving its environment by utilizing more natural gas and less coal in its energy mix. The facility has the ability to consume up to 1/Bnm3 (Billion cubic meters) of natural gas per year, ensuring a strong future demand for CBM gas in the Shouyang area. Gas from FEEC's Shouyang project is already being dispatched to this new facility.

Far East Energy Corporation Announces Further Extension to the SCB Loan Facility

Far East Energy Corporation announced that the maturity date of the bridge facility with SCB has been extended to October 31, 2014, from the previous maturity date of September 15, 2014.

Far East Energy Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Far East Energy Corp. reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net loss of $8.71 million, or $0.03 loss per share, compared to a net loss of $8.04 million, or $0.02 loss per share, for the same quarter ended June 30, 2013. Total operating revenues were $1.14 million, compared to $268,000 for the same quarter ended June 30, 2013. For the six months, the company’s net loss was $17.68 million, or $0.05 loss per share, compared to a net loss of $16.21 million, or $0.05 loss per share, for the same period ended June 30, 2013. Total operating revenues were $2.17 million, compared to $701,000 for the same period ended June 30, 2013.

Far East Energy Corp. Reports Earnings Results for the Second Quarter and First Six Months Ended June 30, 2014; Reports Production Results for the First Six Months Ended June 30, 2014

Far East Energy Corp. reported earnings results for the second quarter and first six months ended June 30, 2014. For the quarter, the company reported revenues increased 324% to $1.1 million. For six months, the company reported revenues rose 209% compared to the same period in 2013, reaching $2.2 million for the first half of the year. This performance reflects (1) the strong increase in gas production and gas sales resulting from the 2013 drilling and fracing program and (2) the significant increase in gas prices being received in 2014 compared to 2013. For six months, the company reported gas sales volumes averaged 1.35 MMcf/d, up 126% from the same period in 2013, resulting from the newly drilled and fraced wells.

 

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Price/Sales 3.4x
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