Houston-based Far East Energy Corporation [OTCBB: FEEC] said Dec. 19 that it has entered into an amendment to its bridge facility agreement with Standard Chartered Bank that, among other things, extends the termination date from Dec. 19, 2012 to the earlier of Jan. 15, 2013 or the date upon which the underwriter, note holders or other relevant creditors notify Far East or Standard Chartered Bank of an intent not to proceed with the currently contemplated debt offering.
Far East Energy (Bermuda), Ltd. and its management, due to applicable rules and regulations, are prohibited from making further detailed statements related to the potential senior secured notes offering , which is being conducted as a private placement not registered under the Securities Act of 1933, as amended.
Far East Energy engages in the acquisition, exploration, development, and production of coalbed methane gas properties in the People’s Republic of China. The company holds, through production sharing contracts, interests in three of China’s largest coalbed methane fields: the 485,000-acre Shouyang Block in Shanxi Province; the 573,000-acre Qinnan Block in Shanxi Province; and the 265,000-acre Enhong and Laochang areas in Yunnan Province. The company was founded in 2000. Michael R. McElwrath serves as president, CEO, and is a director of the corporation.