June 25, 2017 12:43 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Far East Energy (Bermuda) Ltd.

Company Overview

Far East Energy (Bermuda) Ltd. engages in the acquisition, exploration, development, production, and sale of coalbed methane gas (CBM) in Bermuda and adjoining countries. The company is based in Bermuda. Far East Energy (Bermuda) Ltd. is a subsidiary of Far East Energy Corp.

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Bermuda

Key Executives for Far East Energy (Bermuda) Ltd.

Chairman and Chief Executive Officer
Age: 64
Compensation as of Fiscal Year 2016.

Far East Energy (Bermuda) Ltd. Key Developments

Far East Energy (Bermuda) Ltd. Entered into Term Loan Facility Agreement for $16.3 Million Unsecured Credit Facility

Far East Energy (Bermuda) Ltd. a wholly-owned subsidiary of Far East Energy Corporation entered into a Term Loan Facility Agreement as borrower, with the lenders party thereto. The Facility Agreement provides for a $16.3 million unsecured credit facility, of which $8.8 million was used to refinance in full the term loan facility agreement dated February 24, 2015, as amended, between FEEB and the original lenders party thereto, the term loan facility agreement dated April 8, 2015, as amended, between FEEB and the original lenders party thereto and the term loan facility agreement dated June 26, 2015, as amended, between FEEB and the original lenders party thereto. On the date of the Facility Agreement, FEEB shall be deemed to have made a utilization under the Facility Agreement equal to the amounts outstanding under the Existing Outstanding Facility Agreements, and the Lenders will be treated as having advanced their pro rata share of such amounts, such that the Existing Outstanding Facility Agreements shall be discharged in full by way of netting off. The Facility Agreement has a term ending on March 29, 2016. The remaining $7.5 million under the Facility Agreement will be used for certain working capital purposes approved by the Lenders. Loans under the Facility Agreement will be made by the Lenders pursuant to utilization requests delivered by FEEB. FEEB has the right to deliver up to fifteen utilization requests under the Facility Agreement.

Far East Energy (Bermuda), Ltd. and Standard Chartered Bank Enter into Thirteenth Extension Agreement to the Facility Agreement

On September 10, 2015, Far East Energy (Bermuda) Ltd., a wholly-owned subsidiary of Far East Energy Corporation, the guarantor and Standard Chartered Bank entered into the thirteenth extension agreement to the facility agreement to, among other things, extend the maturity date of the facility agreement from September 4, 2015 to October 8, 2015. Interest due on September 4, 2015 will be deferred to the new maturity date of October 8, 2015. The thirteenth extension agreement contains certain customary representations, warranties, releases and confirmations.

Far East Energy (Bermuda) Ltd. Announces Further Extension of Term Loan Facility

Far East Energy (Bermuda) Ltd. has received an extension of its $1.4 million term loan facility agreement entered into on February 24, 2015, with the lenders party thereto, making the maturity date of that loan consistent with the term loan facility entered into on June 26, 2015, also maturing October 8, 2015.

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