Far East Energy Announces Spudding Of 43rd Well Of 2013, 4 More Wells Reach Total Depth, 30 Rigs Now In Field

 Far East Energy Announces Spudding Of 43rd Well Of 2013, 4 More Wells Reach
                      Total Depth, 30 Rigs Now In Field

  PR Newswire

  HOUSTON, June 27, 2013

HOUSTON, June 27, 2013 /PRNewswire/ -- Far East Energy Corporation (OTCBB:
FEEC) the US listed company that operates the Shouyang PSC in Shanxi Province,
People's Republic of China, today announced that 13 new wells have commenced
in the 13 days since the last 2013 drilling program update release issued on
Friday, June 14, bringing to 43 the number of wells spudded in 2013.
Additionally, 4 wells reached total depth, and the 2013 frac program is well
underway. Currently there are 30 rigs in the field.

CEO Michael R. McElwrath commented, "We now have 30 rigs in the field,
substantially exceeding our announced target of 25, and have spudded wells at
a rate equivalent to 1 well per day over the past two weeks. This is a level
of activity that is unmatched by our peers in China and for which our team in
the field, led by our two General Managers of Field Operations, Brent Lowson
and Matt Murphy, deserve high praise."

The company also announced that preliminary results from the SYSE-09 appraisal
well located in the far southeast corner of the block and more than 35
kilometers distant from the company's 1-H production Area, reveal a very thick
number 15 coal seam of over 10 meters in thickness, with exceptionally high
preliminary gas content readings. The well was completed to a depth of 1388
meters or 4554 feet.

Alex Yang, Senior Vice President for Exploration commented, "These results
continue to indicate that the entire eastern half of the Shouyang block has
coals of excellent thickness and high gas content representing an exceptional
target for development of future production areas as well as reserves
creation."

Far East Energy Corporation

Based in Houston, Texas, with offices in Beijing, and Taiyuan City, China, Far
East Energy Corporation is focused on coalbed methane exploration and
development in China.

Statements contained in this press release that state the intentions, hopes,
estimates, 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; there can be no assurance as to the volume of gas that is ultimately
produced or sold from our wells; the fracture stimulation and drilling
programs may not be successful in increasing gas volumes; due to limitations
under Chinese law, we may have only limited rights to enforce the gas sales
agreement between Shanxi Province Guoxin Energy Development Group Limited and
China United Coalbed Methane Corporation, to which we are an express
beneficiary; additional wells may not be drilled, or if drilled may not be
timely; additional pipelines and gathering systems needed to transport our gas
may not be constructed, or if constructed may not be timely, or their routes
may differ from those anticipated; the pipeline and local
distribution/compressed natural gas companies may decline to purchase or take
our gas, or we may not be able to enforce our rights under definitive
agreements with pipelines; conflicts with coal mining operations or
coordination of our exploration and production activities with mining
activities could adversely impact or add significant costs to our operations;
our lack of operating history; limited and potentially inadequate management
of our cash resources; risk and uncertainties associated with exploration,
development and production of coalbed methane; our inability to extract or
sell all or a substantial portion of our reserves and other resources; we may
not satisfy requirements for listing our securities on a securities exchange;
expropriation and other risks associated with foreign operations; disruptions
in capital markets affecting fundraising; matters affecting the energy
industry generally; lack of availability of oil and gas field goods and
services; environmental risks; drilling and production risks; changes in laws
or regulations affecting our operations, as well as other risks described in
our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent
filings with the Securities and Exchange Commission.

Website: http://www.fareastenergy.com
Contact: Investor Relations - +1-281-606-1600, Far East Energy Corporation,
Investorrelations@fareastenergy.com, or Jennifer Whitley - +1-832-598-0470,
Far East Energy Corporation, jwhitley@fareastenergy.com, or Catherine Gay -
+1-832-598-0470, Far East Energy Corporation, cgay@fareastenergy.com