Wednesday, February 29, 2012

Far East Energy seeks refinancing to boost drilling

David Nealis President of Blue Bridge








Far East Energy seeks refinancing to boost drilling


Far East Energy, a United States-based developer of coal bed methane gas projects in Shanxi province China, is seeking to refinance a project loan it obtained in November 2011 to finance a ramp-up in drilling. The nine-month US$ 25million loan carries an effective interest rate of 9.8%. Far East Energy was among the earlier foreign firms to venture into
China's nascent coal bed methane industry. China has the world's third-largest geological reserve of coal bed methane, but the industry has yet to achieve large-scale commercial success like those in USA.

China continues to be an ideal place for firms looking for growth, what is your firm’s China Market Strategy?

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