Message #4 From:
NewsBot Date: March 24, 2008 06:08:07 PM
Far East Energy Announces New COO and New Director
Far East Energy Corporation (OTCBB:FEEC) today announced the appointment
of Phil A. Christian as Chief Operating Officer and China Country
Manager. In this position, Mr. Christian will have responsibility for
all of the Company’s operating activities,
which are focused on coalbed methane exploration and development in the
People’s Republic of China.
Prior to joining Far East, Mr. Christian served in progressive
operations management roles at British Petroleum Company p.l.c. ("BP")
and its predecessor, Amoco Production Company, from 1983 through 2008.
During his career with BP, he has had a particular focus on
international operations, most recently serving as Wells Manager for
BP's Russian offshore operations and as Director of Major Projects in BP’s
Russian joint venture, TNK-BP. Mr. Christian’s
international management background includes almost ten years of Chinese
project management, including service as Operations Manager for Amoco
Orient Petroleum Company from 1991 to 1994. During his tenure with
Amoco, he led teams responsible for drilling the first deepwater well
drilled offshore China as well as the first onshore well drilled by a
major western operator in China. He also served as a Drilling and
Operations Manager for Amoco Production Company in Latin America. Mr.
Christian earned a B.S. in Chemical Engineering from the University of
Texas.
Commenting on the addition of Mr. Christian, Michael L. McElwrath,
President and CEO of Far East Energy, said, “As
we enter a period during which we anticipate production and a major
acceleration of our operations, Phil Christian brings exceptional
international project management acumen, as well as a proven track
record in China. For years now, Phil has been assigned to lead and/or
troubleshoot some of BP’s most critical
worldwide projects from Colombia to Russia to China. Far East is
fortunate to have attracted an individual with Phil’s
record of successfully delivering major international projects.”
Separately, Far East announced the addition of Lucian L. Morrison to its
Board of Directors and the promotion of Andrew Lai to Vice President,
Controller and Treasurer.
Mr. Morrison is an independent trustee and consultant in trust, estate,
probate and qualified plan matters and also manages oil and gas
properties. He currently serves as a director of Erie Indemnity Company,
where he is a member of the audit and compensation committees.
Additionally, Mr. Morrison served as a director of Encore Trust Company
from 2005 to 2007 and of Encompass Services, Inc. from 1997 to 2003. He
founded Sentinel Trust Company in 1997 and continues to serve as a
director and a member of the company's investment committees. From 1998
to 2002, he was chairman and chief executive officer of Wing
Corporation, a publicly traded exploration and production company. He
founded Heritage Trust Company in 1979 and served as its CEO until 1990,
when it was sold to Northern Trust Bank of Texas, after which he
continued as a director and chairman of the trust committee of Northern
Trust until 1992. He is also a development board member of the
University of Texas Houston Health Science Center, a member of the
American Bar Association and a member of the National Association of
Corporate Directors. He holds a JD from the University of Texas School
of Law, a graduate degree from the Southern Methodist University
Southwestern Graduate School of Banking, Trust Division, and a BBA in
Accounting from the University of Texas School of Business
Administration.
Mr. Lai joined Far East Energy in January 2007 as General Counsel and
Director of Financial Planning. Prior to joining the Company, Mr. Lai
held management positions in the Financial Reporting and International
Accounting Departments of EOG Resources, Inc. from 1999 through January
2007. He also served with UMC Petroleum (now part of Devon Energy) from
1987 to 1995 and practiced public accounting from 1995 through 1999. Mr.
Lai was raised in Hong Kong and is fluent in Cantonese and Mandarin. He
holds BBA, MBA and J.D. degrees from the University of Houston and is a
Texas CPA and attorney.
Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan
City, China, Far East Energy Corporation is focused on CBM exploration
and development in China through its agreements with ConocoPhillips and
China United Coalbed Methane Company, Ltd. (CUCBM).
Statements contained in this press release that state the intentions,
hopes, beliefs, anticipations, expectations or predictions of the future
of Far East Energy Corporation and its management are forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. It is important to note that any such forward-looking
statements are not guarantees of future performance and involve a number
of risks and uncertainties. Actual results could differ materially from
those projected in such forward-looking statements. Factors that could
cause actual results to differ materially from those projected in such
forward-looking statements include: the preliminary nature of well data,
including permeability and gas content, and commercial viability of the
wells; risk and uncertainties associated with exploration, development
and production of oil and gas; drilling and production risks; our lack
of operating history; limited and potentially inadequate cash resources;
expropriation and other risks associated with foreign operations;
anticipated pipeline construction and transportation of gas; matters
affecting the oil and gas industry generally; lack of availability of
oil and gas field goods and services; environmental risks; changes in
laws or regulations affecting our operations, as well as other risks
described in our Annual Report on Form 10-K and subsequent filings with
the Securities and Exchange Commission.
