HOUSTON, June 22, 2011 /PRNewswire/ -- Far East Energy Corporation (OTC BB: FEEC) today announced a drilling update on the Shouyang Block and details for an upcoming conference call.
Drilling Update
The drilling of pilot development test well P18 is now complete and scheduled for fracture stimulation in the coming month. The SYS05 well is still proceeding and is near core point on the #15 coal seam. These wells represent test wells reaching out as far to the east and south as the Company has drilled to date. The SYS05 well is located far into the lower half of the block, approximately 14 kilometers south and 22 kilometers east of the SYS02 and 35 kilometers south of the producing 1H area. Pilot development test well P18 is located 26 kilometers southeast of the 1H area, in the far eastern area of the block.
These wells give the Company an expanded look at the permeability of the #15 coal seam at a significant distance from its present producing area and considerably beyond the recently drilled SYS02 and P12 wells. Preliminary results indicate high permeability could extend to the furthermost wells of the Shouyang Block.
The Company is presently connecting 19 previously drilled wells to its gathering system. These 19 wells, along with 3 wells currently being drilled and 4 wells at locations prepared for drilling, are expected to add 26 additional wells to our original gathering system, bringing the total number of wells tied to the gathering system to 56.
Operations Update Conference Call
The Company will host an operations update conference call on Monday, July 25, 2011 at 11:00 a.m. Eastern Daylight Time (10:00 a.m. Central Daylight Time), when David Minor, the Company’s new Executive Director of Operations, returns from the field. Michael McElwrath, CEO, will introduce Mr. Minor, who will discuss the Company’s projects and progress as well as development plans. Mr. McElwrath will provide an overview of new contingent resource data which is expected to be received mid-July.
Conference Call Details
To participate in the conference call, participants have the option to listen only to the call; or, to listen and submit questions for the Q&A segment of the call by accessing a link which will be posted on the Company's website. Please note: questions can only be submitted via the conference link which will be posted on the Company's website at: www.fareastenergy.com.
Date:
Monday, July 25, 2011
Time:
11:00 a.m. EDT – 10:00 a.m. CDT
Dial in access:
1-800-860-2442 (U.S. participants toll free)
1-412-858-4600 (International participants toll free)
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