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HOUSTON - Far East Energy Corporation (OTC Bulletin Board: FEEC) announced the
formation of a strategic alliance with Arrow Energy International Pte Ltd.
(”Arrow”), the Singapore-based international arm of Arrow Energy Ltd., a
large Australian coalbed methane (”CBM”) producer. As part of the strategic
alliance, under a farm-out agreement, Arrow will pay Far East US $8 million
in cash, and Far East will assign to Arrow a 75.25% share of Far East’s
participating interest in the Qinnan Production Sharing Contract (”PSC”) to
develop CBM resources in the Shanxi province of China. The farm-out agreement
is subject to certain conditions precedent, including approval by appropriate
Chinese authorities. Arrow will become the operator under the Qinnan PSC and
fund all exploration costs during the exploration period, including Far
East’s remaining 24.75% participating interest, until Arrow has incurred up
to US $30.0 million of total spending on exploration. If the Chinese
authorities ultimately approve an Overall Development Plan (”ODP”) for
development of all, or a portion of, the block, Arrow will pay Far East a
bonus of US $8 million.
AMSTERDAM - AerCap Holdings N.V. (”AerCap”, NYSE: AER) today announced that
AerVenture Limited, its consolidated joint venture, has signed a facility
agreement with Calyon S.A. and other banks and financial institutions,
outlining the terms pursuant to which the European Export Credit Agencies may
provide guarantees on up to US$846 million of financing to commercial banks
to fund deliveries of A320 family aircraft under AerVenture’s forward order
with Airbus through 2011. This completes the remaining financing requirement
for the Airbus A320 family order of aircraft. The aircraft are part of an
original 70 aircraft order placed by AerVenture Limited in January 2006. The
European Export Credit Agencies consist of Coface in France, ECGD in the
United Kingdom, and Euler-Hermes in Germany. The loans are to be provided by
a syndicate of banks led by Calyon acting as Global Arranger and are subject
to customary ECA requirements.
EINDHOVEN, The Netherlands - The Center for Translational Molecular Medicine (CTMM) - the Dutch
public-private partnership committed to the research and development of new
techniques for the diagnosis and treatment of major diseases - today
announced that eight new research projects will receive funding from the
CTMM. It means that almost 250 million Euros have now been allocated to
Netherlands-based translational projects that could radically improve patient
outcomes for diseases such as Alzheimer’s, rheumatoid arthritis, sepsis,
cardiovascular disorders and the most important forms of cancer.
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