Agreement Regarding Shouyang Project CBM Purchase and Sale Contract between CUCBM and Far East Energy (Bermuda), Ltd.
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Summary
This agreement, dated June 12, 2010, is between China United Coal Bed Methane Corporation Ltd. (CUCBM) and Far East Energy (Bermuda), Ltd. (FEEB). It clarifies that CUCBM is the sole signatory to the Gas Sales Agreement (GSA) for the Shouyang Project, but FEEB is a beneficiary. FEEB and its affiliates may disclose the GSA to investors, consultants, or as required by law. Both parties are entitled to their respective shares of VAT refunds and government subsidies related to gas sales from the Shouyang PSC area.
EX-10.2 3 v188405_ex10-2.htm
Exhibit 10.2
June 12, 2010
Mr. Liang Li
Director of Business Management Department
China United Coal Bed Methane Corporation Ltd.
With regard to the Shouyang Project CBM Purchase and Sale Contract dated June 12, 2010, CUCBM and FEEB agree that CUCBM is the sole signatory to the GSA, but FEEB is one of the beneficiaries under the GSA. CUCBM and FEEB agree that FEEB and its affiliates may disclose the contents of the GSA to potential investors and consultants or otherwise as required by the rules of any stock exchange, applicable law, or a valid court order. CUCMB and FEEB understand that they are each respectively entitled to their share of any VAT refunds and government subsidies under the current government policies related to sales of gas from the Shouyang PSC area.
| Yours truly, |
| FAR EAST ENERGY (BERMUDA), LTD. |
| /s/ Michael R. McElwrath |
| Name: Michael R. McElwrath |
| Title: Chairman |
Agreed and Accepted this 12 day of June, 2010.
Business Management Department, China United Coal Bed Methane Corporation Ltd.
| By: | /s/ Liang Li |
| Printed Name: | Liang Li |
| Title: |
