Acknowledgment Letter Regarding Coal Bed Methane Gas Sales Agreement for Shouyang Project between CUCBM and Shanxi Provincial Guoxin Energy Development Group

Contract Categories: Business Operations › Sales Agreements
Summary

This letter from Far East Energy (Bermuda), Ltd. acknowledges the completion and acceptance of the Coal Bed Methane Gas Sales Agreement (GSA) between China United Coal Bed Methane Corporation Ltd. (CUCBM) and Shanxi Provincial Guoxin Energy Development Group Co. Ltd. for the Shouyang Project. The letter confirms that the GSA terms are accepted and clarifies that neither the GSA nor the referenced correspondence will affect any rights held by Far East Energy under the Shouyang Production Sharing Contract (PSC).

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EX-10.3 4 v188405_ex10-3.htm
Exhibit 10.3

June 11, 2010

China United Coal Bed Methane Corporation Ltd. ("CUCBM"):

RE:
Coal Bed Methane Gas Sales Agreement for Shouyang Project ("GSA") by and between CUCBM and Shanxi Provincial Guoxin Energy Development Group Co. Ltd. ("Buyer")

Thank you for your letter titled "Regarding Shouyang Project CBM Purchase and Sale Contract dated June 8, 2010," identified as CUCBM Business Management Dept. document No. [2020]25.  We are pleased with the completion of the negotiations and finalization of the GSA in accordance with Section 14.6.1 of the Shouyang PSC.  We accept the current terms of the GSA.
 
Neither the GSA nor your letter will modify any rights of FEEB under the Shouyang PSC.

Yours truly,
 
FAR EAST ENERGY (BERMUDA), LTD.
 
/s/ Michael R. McElwrath
Name: Michael R. McElwrath
Title:   Chairman