Far East Energy Adds Two International Leaders
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Author: PR NEWSWIRE, May 27, 2004
Released 28 May 2004
HOUSTON, May 27. PR Newswire-FirstCall: Far East Energy Corporation (OTC Bulletin Board: FEEC) has named two new outside Directors to its Board. Thomas Cavanagh, an experienced executive in the international oil and gas industry, and Donald A. Juckett, former Deputy Assistant Secretary of the United States Department of Energy, join Far East as independent Directors.
Tom Cavanagh has had a distinguished twenty-three-year career as an executive and exploration geophysicist with major international oil and gas companies including Ocean Energy International, Saudi Aramco, and Exxon. Cavanagh held numerous senior executive positions at Ocean Energy, including serving as Vice President - New Ventures and Vice President - Chief Geophysicist. Before joining Ocean Energy, he held Senior Geophysicist and Geologic Specialist positions with Saudi Aramco and Exxon, primarily focusing as a senior exploration geophysicist on exploration plays such as the Gulf of Mexico, Malaysia, Sumatra, Saudi Arabia, Yemen, Syria, Pakistan, Egypt, and West Africa.
"Tom is a world-class geophysicist whose talents are respected across the international oil and gas industry," said Michael McElwrath, Chairman and CEO of Far East Energy. "Tom brings rock-solid technical insights to our activities in China and Montana. His impressive record of commercial discoveries and international experience speaks for itself, and his advice and counsel is much sought after."
Don Juckett, now consulting throughout the energy industry, retired from a long career at the Senior Executive Service level with the United States Department of Energy (DOE) in 2003. While there, he held posts as Director of the Office of Natural Gas and Petroleum Import and Export Activities, Director for Natural Gas and Petroleum Technology, and Acting Deputy Assistant Secretary for Natural Gas and Petroleum Technology. He conceived and organized the U.S./China Oil and Gas Industry Forum, a government/industry platform that enhanced China's petroleum sector opening to outside investment. Prior to joining DOE, Juckett worked for Phillips Petroleum in exploration and production technical services and research. He has a Ph.D. in organic chemistry.
"Don will be a tremendous asset to our China operations and to our gas marketing efforts as well," said McElwrath. "Don not only brings the contacts and knowledge of China gained from effectively serving as the Department of Energy's liaison to China, but also is internationally respected for his expertise in liquefied natural gas (LNG), which is one of the markets for our gas in China.
"We are building a Board worthy of our prospects in China," said McElwrath. "These are well-respected experts, and we will continue to build a Board that is second-to-none in that regard."
Based in Houston, Texas, with offices in Beijing and Kunming, China, Far East Energy is focused on the acquisition of, and exploration for, coalbed methane through its agreements with ConocoPhillips and China United Coalbed Methane Company (CUCBM). For more information, go to www.fareastenergy.com.
This News Release may contain forward-looking statements relating to future plans, events or other matters. Such statements involve numerous risks and uncertainties. Actual events may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this News Release. No obligation is undertaken to release revisions to these forward-looking statements to reflect events or circumstances after the date of this News Release. Further information about the risks and uncertainties faced can be found in applicable filings with the Securities and Exchange Commission.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Far East Energy Corp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.