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 Far East Energy Corp (OTC BB:FEEC)

Tuesday, May 8, 2012
Comments & Business Outlook
FAR EAST ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands, Except Per Share Data)
(Unaudited)
 
   
Three Months Ended March 31,
 
   
2012
   
2011
 
Operating revenues:
           
Gas sales
  $ 226     $ 23  
Other, net
    71       8  
      297       31  
Operating expenses:
               
Exploration costs
    1,409       1,675  
Lease operating expense
    1,668       732  
General and administrative
    2,779       2,108  
Depreciation, depletion and amortization
    358       56  
Total operating expenses
    6,214       4,571  
Operating loss
    (5,917 )     (4,540 )
Other income (expense):
               
Interest expense
    (1,076 )     (198 )
Interest income
    1       1  
Foreign currency transaction loss
    (46 )     (182 )
Total other income
    (1,121 )     (379 )
Loss before income taxes
    (7,038 )     (4,919 )
Income taxes
    -       -  
Net loss
  $ (7,038 )   $ (4,919 )
                 
Comprehensive loss
  $ (7,038 )   $ (4,919 )
                 
Net loss per share:
               
Basic and diluted
  $ (0.02 )   $ (0.02 )
                 
Weighted average shares outstanding:
               
Basic and diluted
    343,972       305,818  

Saturday, December 3, 2011
Deal Flow
On November 28, 2011, Far East Energy (Bermuda), Ltd. (“FEEB”), a wholly-owned subsidiary of Far East Energy Corporation (the “Company”), entered into a Facility Agreement, as borrower, with Standard Chartered Bank (“SCB”), as lender, and the Company, as guarantor (the “Facility Agreement”).

Saturday, March 12, 2011
Deal Flow
On March 10, 2011, Far East Energy Corporation, a Nevada corporation (the “Company”), entered into a placement agent agreement (the “Placement Agreement”) with Religare Capital Markets, Inc. (“Religare”) pursuant to which Religare agreed to act as placement agent on a reasonable best efforts basis in connection with the sale of shares of the Company’s common stock, par value $0.001 per share (“Common Stock”), in a registered direct public offering (the “Offering”). In connection with the Offering, the Company has entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) dated March 11, 2011 with the investors party thereto (the “Investors”) pursuant to which the Common Stock is being sold at a purchase price of $0.5025 per share and will be issued pursuant to a prospectus supplement or supplements filed with the Securities and Exchange Commission (“SEC”) included in the Company’s shelf registration statement on Form S-3 (File No. 333-162019), which became effective on November 4, 2009.