Far East Touts 303.7 Bcf Proved Shanxi CBM Reserves
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Far East Energy Corporation has released an updated independent engineering report prepared by RISC Operations Pty Ltd. (RISC), an internationally recognized independent petroleum advisory evaluation and valuation firm based in Perth, Australia, with respect to its coalbed methane (CBM) project located in the Shouyang block in Shanxi Province, China as of December 31, 2012.
The reserves estimates in the updated RISC report were prepared in accordance with the standards recognized by the Society of Petroleum Engineers (SPE) in the Petroleum Resources Management System (PRMS).
The updated RISC report indicates that the net total proved reserves under PRMS standards are now approximately 303.7 billion cubic feet (Bcf), with estimated future net cash flow, on an NPV10 basis, of approximately…
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