Far East Energy Corporation, the Houston, Texas-based energy developer focused on rich coalbed methane resources in China, with offices in Beijing, Kunming, and Taiyuan, offered an update on drilling activities at the Company’s Shouyang Block today in addition to providing details of an upcoming conference call on the subject.
Drilling has gone well, with two new wells mapping the #15 coal seam’s extremities in the farthest eastern and southern portions of the block to be drilled to date by FEEC. These new wells provide a better consolidated view of the overall permeability of the #15 coal seam at a considerable distance from the current main production area (1H), extending out well beyond the more recently drilled SYS02 and P12 wells.
The P18 pilot development test well in the southeast is some 16 miles east of the 1H area and is now completed, with fracking slated for July. The SYS05 well is currently proceeding according to schedule, recently neared core point and lies some 22 miles south of the 1H area (almost 9 miles south of the SYS02).
Preliminary data shows high probability for excellent permeability in even the farthest wells drilled in the Shouyang Block and the Company is hard at work connecting all of the 19 previously-drilled wells into the master gathering system. The gathering system should hit a total of 56 wells by the time FEEC is done with the current round of operations, after the 3 ongoing and 4 planned wells are added.
A conference call is scheduled for this Monday, July 25, at 11:00 a.m. EDT (10 a.m. CST). The conference call will feature FEEC’s new Executive Director of Operations, David Minor, fresh from the field and the Company’s CEO, Michael McElwrath, as they cover the Company’s current projects/progress as well as current plans for development. McElwrath also intends to provide an overview of the new contingent resource data anticipated for the middle of July.
Participation in the conference call will be made available via a link on the Company’s website at: www.fareastenergy.com
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