Far East Energy Releases Original Gas-in-Place Report for Shouyang Block Prepared by Netherland, Sewell & Associates, Inc.

By Far East Energy Corporation, PRNE
Wednesday, November 17, 2010

HOUSTON, November 18, 2010 - Far East Energy Corporation (OTC Bulletin Board: FEEC) announced today
the results of an independent engineering report prepared by Netherland,
Sewell & Associates, Inc. (NSAI) estimating the total coalbed methane
Original Gas-in-Place (OGIP) in Far East Energy's Shouyang Block situated
in Shanxi Province, China.

The report covers three target coal seams (the Nos. 3, 9 and 15) and
concludes with a best estimate of Original Gas-in-Place of 7.0 trillion cubic
feet (Tcf) of coalbed methane (CBM) gas and a high estimate of 8.5 Tcf
covering the 487,000 acres under the company's Shouyang Production Sharing
Contract (PSC). This is the first time the entire Shouyang Block has been
assessed by a third-party engineering firm.

"We are pleased to receive this report on Original Gas-in-Place for the
Shouyang PSC," said Michael R. McElwrath, CEO and President of Far East
Energy. "This report is a clear indicator of increased potential of the
Shouyang Block, and we are excited about the results. As previously
announced, this NSAI Original Gas-in-Place report will be followed,
subsequent to year-end, by a report covering SEC reserves in the Shouyang
Block calculated as of December 31, 2010, and gas sales are expected to begin
at that time, as we continue to tick off milestones. All of this comes at a
time when, based on current exchange rates, the pricing of our natural gas in
China is approximately $6.00 to $6.45 per Mcf, which includes enacted and
announced government subsidies and compares quite favorably to the November 3
Henry Hub US natural gas price of $3.35 per Mcf."

Far East Energy previously received data in 2003 from ConocoPhillips for
the northern 204,000 acres of the Shouyang Block estimating Original
Gas-in-Place at a low of 3.9 Tcf, a median of 4.8 Tcf, and a high of 6.1 Tcf.
The current NSAI report estimates OGIP at a low of 5.4 Tcf, a best estimate
of 7.0 Tcf and a high of 8.5 Tcf.

The NSAI report on OGIP estimates, which contains further information and
qualifications, can be found on Far East Energy's website at:
www.fareastenergy.com, in the left hand column of the home page.

Far East Energy Corporation

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

About Netherland, Sewell & Associates

Netherland, Sewell & Associates, Inc. provides integrated consulting
services encompassing geophysics, geology, petro physics, engineering,
reservoir modeling and economics. NSAI has performed geophysical, geologic
and engineering studies of reservoirs around the globe — from the North Sea
to South America, from the North Slope to South Florida, and from West Africa
to the Middle East and Indonesia — for leading major integrated petroleum
companies, both small and large independent oil and gas companies, and
various financial institutions and government agencies. For more information
about NSAI, please visit their website at www.netherlandsewell.com.

The United States Securities and Exchange Commission ("SEC") permits oil
and gas companies, in their filings with the SEC, to disclose only proved
reserves that a company has demonstrated by actual production or conclusive
formation tests to be economically and legally producible under existing
economic and operating conditions. We use certain terms in this press
release, such as "original gas-in-place," that are not consistent with
"proved reserves" and are not permitted to be included in filings with the
SEC. This term "original gas-in-place" refers to discovered and undiscovered
gas-in-place, which is the quantity of hydrocarbons which is estimated, on a
given date, to be contained in known accumulations, plus those quantities
already produced there from, plus those estimated quantities in accumulations
yet to be discovered. Investors are urged to consider closely the disclosure
in our Form 10-K, File No. 0-32455, available from us on this website under
the heading, "SEC Filings." You can also obtain our Form 10-K and our other
SEC filings over the Internet at the SEC's website at www.sec.gov.
Additionally, you can obtain any document we file with the SEC at its public
reference facility. Please call the SEC at 1-800-SEC-0300 for further
information on the operation of the public reference facility.

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; 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, Ltd., to which we are an express beneficiary; 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; certain of the proposed transactions with Dart
Energy (formerly Arrow Energy) may not close on a timely basis or at all,
including due to a failure to satisfy closing conditions or otherwise; the
anticipated benefits to us of the transactions with Dart Energy may not be
realized; the final amounts received by us from Dart Energy may be different
than anticipated; Dart Energy may exercise its right to terminate the Farmout
Agreement at any time; the Chinese Ministry of Commerce ("MOC") may not
approve the extension of the Qinnan PSC on a timely basis or at all; our
Chinese partner companies or the MOC may require certain changes to the terms
and conditions of our PSC in conjunction with their approval of any extension
of the Qinnan PSC; 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;
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 2009 Annual Report and subsequent filings with the Securities and
Exchange Commission.

Bruce Huff, bhuff at fareastenergy.com, or David Nahmias, dnahmias at fareastenergy.com, or Catherine Gay, cgay at fareastenergy.com, all of Far East Energy Corporation, +1-832-598-0470

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