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Far East Energy Corp (OTC BB:FEEC)
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Comments & Business Outlook
Deal Flow
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
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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”).
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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.
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Quick Facts
Industry
Energy - NonRenewable