New Issue: Far East negotiates $49.62 million registered direct offering of stock

By Devika Patel

Knoxville, Tenn., Aug. 20 - Far East Energy Corp. said it plans a registered direct offering of stock to raise between $30 million and $49.62 million.

The company will sell between 90,909,100 and 150,375,000 common shares at $0.33 apiece. The per-share price reflects an 8.33% discount to the Aug. 19 closing share price of $0.36.

Macquarie Capital (USA), Inc. is the agent.

Settlement is expected Aug. 24.

Proceeds will be used to continue the drilling, completion and testing of the company's coalbed methane wells in China, for debt repayment and for general corporate purposes.

Far East is a Houston-based natural gas company focused on coal-bed methane projects.

Issuer:	Far East Energy Corp.
Issue:	Common shares
Amount:	$30,000,003(minimum), $49,623,750 (maximum)
Shares:	90,909,100 (minimum), 150,375,000 (maximum)
Price:	$0.33
Warrants:	No
Agent:	Macquarie Capital (USA), Inc.
Pricing date:	Aug. 20
Settlement date:	Aug. 24
Stock symbol:	OTCBB: FEEC
Stock price:	$0.36 at close Aug. 19
Market capitalization:	$68.67 million

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