Past year: ▼ 71%(2.00c – 7.00c USD)
Each one in plain English, with the numbers worked through for a shareholder.
7 July 2006capital raising announcement● NeutralMajor
Far East Energy raised $8.94 million selling 6.6 million shares privately at about $1.35, paying 6.75% in fees. Another year, another placement, with no revenue yet in sight.
What it means for a shareholder
6.6m new shares at about $1.35 to raise about $8.9m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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10 May 2006securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
8 May 2006securities registration● Neutral
FAR EAST ENERGY CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
18 Apr 2006securities registration● Neutral
FAR EAST ENERGY CORP amended an already-effective registration statement.
22 Mar 2006securities registration● Neutral
FAR EAST ENERGY CORP registered a securities offering with the SEC using its shelf eligibility.
21 Mar 2006securities registration● Neutral
FAR EAST ENERGY CORP amended an already-effective registration statement.
17 Mar 2006material agreement▼ Bad
The Shanxi exploration deadline slipped again, from March to June 2006 - the fifth extension of the same obligation in fifteen months.
3 Feb 2006substantial holder notice● Neutral
HEARTLAND ADVISORS, INC. #, WILLIAM J. NASGOVITZ disclosed a new substantial FAR EAST ENERGY CORP shareholding (5.20% of votes).
20 Jan 2006substantial holder notice● Neutral
Jawaharlal Gondi reported a FAR EAST ENERGY CORP shareholding of 6,750,000 shares (6.93% of votes) in a periodic institutional filing.
5 Jan 2006material agreement● Neutral
Chief executive Michael McElwrath's salary was set at $300,000 for 2006 with a $20,000 bonus for 2005, alongside pay awards for other executives.
21 Dec 2005material agreement● Neutral
ConocoPhillips agreed to leave the $1 million drilling guarantee in escrow until March 2006 rather than call it, aligning the escrow with the extended exploration deadline. The penalty was deferred, not lifted.
7 Dec 2005material agreement▼ Bad
The phase-two exploration deadline on the Shanxi blocks was pushed from December 2005 to March 2006, another quarter bought from CUCBM.
8 Nov 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
8 Nov 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
7 Nov 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
3 Nov 2005director officer appointment● Neutral
Jeffrey Brown was hired to run the Bermuda subsidiary as president on $150,000 plus a $50,000 China allowance and up to $96,000 of housing - putting a dedicated executive on the ground in China for the first time.
1 Nov 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
31 Oct 2005material agreement▼ Bad
A fourth one-month extension moved the first-horizontal-well deadline to the end of November 2005.
28 Oct 2005securities registration● Neutral
FAR EAST ENERGY CORP registered a securities offering with the SEC.
26 Oct 2005material agreement▼ BadMajor
Far East Energy got its Yunnan partner CUCBM to extend the phase-two exploration deadline at Enhong and Laochang all the way to June 2007, subject to Chinese government approval - the same slippage now affecting its second block as well as its first.
20 Oct 2005capital raising announcement▲ Good
Warrant holders exercised at $1.00, bringing in $4.4 million of cash during October alone. Cheap warrants issued in earlier placements were now the company's most reliable funding source.
13 Oct 2005substantial holder notice● Neutral
SOFAER CAPITAL ASIAN FUND, SOFAER CAPITAL GLOBAL FUND, SOFAER CAPITAL INC., RESTRUCTURING INVESTORS LIMITED, PASSLAKE LIMITED, PERSISTENCY reported a FAR EAST ENERGY CORP shareholding of 8,885,729 shares (9.60% of votes) in a periodic institutional filing.
12 Oct 2005capital raising announcement▼ Bad
A further 2.78 million shares were sold at $0.90 for $2.5 million under the December 2004 subscription agreement - a fraction of the $2.50 warrant price set a year earlier, showing how far the shares had fallen.
What it means for a shareholder
2.8m new shares at $0.900 to raise about $2.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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29 Sept 2005material agreement▼ Bad
A third consecutive one-month extension pushed the first-horizontal-well deadline to the end of October 2005.
26 Sept 2005capital raising announcement▲ GoodMajor
Far East Energy raised $10.9 million selling 12.1 million shares privately, promising to register the shares within 60 days and to get its stock onto the American Stock Exchange within 180 days.
What it means for a shareholder
12.1m new shares at about $0.9008 to raise about $10.9m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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26 Sept 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
30 Aug 2005material agreement▼ Bad
The same drilling deadline was extended again, from August to September 2005 - the second one-month reprieve in as many months.
5 Aug 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
28 July 2005securities registration● Neutral
FAR EAST ENERGY CORP filed the final prospectus for a registered offering.
26 July 2005securities registration● Neutral
FAR EAST ENERGY CORP amended a filing by which it registered a securities offering with the SEC.
