7 Aug 2013quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $268 thousand and a net loss of $8.0 million for the period ended 2013-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 May 2013quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $433 thousand and a net loss of $8.2 million for the period ended 2013-03-31.
13 Feb 2013substantial holder notice● Neutral
International Finance Corporation reported a FAR EAST ENERGY CORP shareholding of 1,575,000 shares (4.00% of votes) in a periodic institutional filing.
25 Jan 2013substantial holder notice● Neutral
Ashmore Group plc, Ashmore Investment Management Limited, Asset Holder PCC Limited in respect of Ashmore Emerging Markets Liquid Investmen, Ashmore Emerging Markets Debt Fund, Ashmore Emerging Markets Debt and Currency Fund Limited, Ashmore Funds, a Massachusetts business trust, on behalf of Ashmore Emerging Mar, Ashmore SICAV in respect of Ashmore SICAV Emerging Markets Total Return Fund, Ashmore SICAV in respect of Ashmore SICAV Emerging Markets Total Return Fund II, Stichting Pensioenfonds Van de Metalektro, Ashmore SICAV Emerging Markets Debt Fund, Global High Yield, a sub-fund of Mediolanum Best Brands, Ashmore Growing Multi Strategy Fund Limited, Ashmore Emerging Markets Corporate High Yield Fund Limited, Ashmore SICAV in respect of Ashmore SICAV Emerging Markets Corporate Debt Fund, Ashmore SICAV in respect of Ashmore SICAV Emerging Markets Asian Corporate Debt, Ashmore Emerging Markets Tri Asset Fund Limited, Ashmore Emerging Markets High Yield Plus Fund Limited, Ashmore Global Special Situations Fund disclosed a new substantial FAR EAST ENERGY CORP shareholding (16.30% of votes).
18 Jan 2013capital raising announcement▼ BadMajor
Far East Energy raised $60 million by selling senior secured notes of its Bermuda subsidiary plus warrants, at 13% cash interest or 14.5% if paid in more notes, maturing January 2016. It cleared the immediate bank problem, but committed a company with no revenue to a hard three-year deadline at a punishing rate. Those notes are the largest claim in its 2015 liquidation.
11 Jan 2013substantial holder notice● Neutral
BlackRock, Inc reported a FAR EAST ENERGY CORP shareholding of 15,396,300 shares (4.47% of votes) in a periodic institutional filing.
20 Dec 2012debt default or forbearance▼ BadMajor
Standard Chartered granted another short deferral of principal and interest to mid-January while the company finished documenting a private placement of senior secured notes - the bank lending against a refinancing that had not closed yet.
28 Nov 2012debt default or forbearance▼ BadMajor
Unable to repay at maturity, the company got Standard Chartered to push both the facility's termination date and the payment of all accrued interest out three weeks to 19 December 2012.
7 Nov 2012quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $505 thousand and a net loss of $7.5 million for the period ended 2012-09-30.
22 Aug 2012debt financing▼ Bad
A further $2.1 million was drawn on the Standard Chartered facility for general working capital.
7 Aug 2012quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $352 thousand and a net loss of $6.5 million for the period ended 2012-06-30.
25 July 2012debt financing▼ Bad
The company drew $2.6 million on the Standard Chartered facility and used its option to push the term out three months to November 2012 - the first sign that the nine-month loan would not be repaid on time.
11 July 2012material agreement▲ GoodMajor
The Shouyang exploration period was extended to June 2015 with Chinese government approval - the block that carried the gas sales contract and the bank loan now had three more years to deliver.
21 June 2012material agreement▼ BadMajor
Beijing approved a deal under which Far East Energy handed back the Enhong block in Yunnan and kept the 483 square kilometre Laochang block, with more time to explore it. Ten years after signing for 1,072 square kilometres, the company was giving half of it back.
25 May 2012director officer appointment▼ Bad
The Standard Chartered facility was amended to give the company more time to produce Chinese government approval of its production sharing contract extension, and chief executive Michael McElwrath's contract was extended. The loan was already dependent on approvals the company did not yet have.
7 May 2012quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $297 thousand and a net loss of $7.0 million for the period ended 2012-03-31.
14 Feb 2012substantial holder notice● Neutral
Camomille International Pte Singapore, Persistency Private Equity Limited, Persistency Capital, LLC, Andrew Morris reported a FAR EAST ENERGY CORP shareholding of 15,386,579 shares (4.50% of votes) in a periodic institutional filing.
14 Feb 2012substantial holder notice● Neutral
DART ENERGY INTERNATIONAL PTE. LTD, DART ENERGY LTD reported no remaining FAR EAST ENERGY CORP shareholding in its periodic institutional filing.
9 Feb 2012substantial holder notice● Neutral
BlackRock, Inc reported a FAR EAST ENERGY CORP shareholding of 32,452,100 shares (9.48% of votes) in a periodic institutional filing.
2 Dec 2011debt financing● NeutralMajor
Standard Chartered provided a $25 million facility to the Bermuda subsidiary, guaranteed by the parent, for Shouyang project costs - the company's first bank debt and, over the next four years, the obligation it spent most of its energy refinancing. The initial term was just nine months.
14 Nov 2011quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $268 thousand and a net loss of $5.1 million for the period ended 2011-09-30.
12 Aug 2011quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $250 thousand and a net loss of $4.5 million for the period ended 2011-06-30.
16 May 2011quarterly activities report▼ Bad
FAR EAST ENERGY CORP reported quarterly revenue of $31 thousand and a net loss of $4.9 million for the period ended 2011-03-31.
14 Mar 2011capital raising announcement▼ BadMajor
Arrow's $10 million exchangeable note - now held by Dart Energy after Arrow was broken up - fell due and could not be repaid; the maturity was pushed to September 2011, with Dart free to convert into shares at any time. The 2009 rescue had become a debt the company had to keep rolling.
11 Mar 2011securities registration● Neutral
FAR EAST ENERGY CORP filed a free-writing prospectus - marketing material for an offering in progress.
11 Mar 2011securities registration● Neutral
FAR EAST ENERGY CORP filed a prospectus supplement for an offering off its existing shelf.
11 Mar 2011material agreement● NeutralMajor
Shares were sold at $0.5025 through Religare Capital Markets, a rare raise at a higher price than the last, on the back of progress at Shouyang.
11 Mar 2011securities registration● Neutral
FAR EAST ENERGY CORP filed a prospectus supplement for an offering off its existing shelf.
11 Mar 2011securities registration● Neutral
FAR EAST ENERGY CORP filed a prospectus supplement for an offering off its existing shelf.
11 Mar 2011securities registration● Neutral
FAR EAST ENERGY CORP filed a free-writing prospectus - marketing material for an offering in progress.