Far East Energy Updates Guidance on the Timing of Release of Independent Engineering Report With Total Gas Resources Identified for the Shouyang Block

By Far East Energy Corporation, PRNE
Thursday, November 4, 2010

HOUSTON, November 5, 2010 - Far East Energy Corporation (OTC Bulletin Board: FEEC) announced today
the anticipated timing of a release disclosing results of an independent
report being prepared by Netherland, Sewell & Associates, Inc. (NSAI)
estimating total coalbed methane resources (Original Gas-In-Place) in Far
East Energy's Shouyang Block in Shanxi Province, China. This report will
cover three target coal seams (the Nos. 3, 9 and 15) and it is anticipated to
be received by the company between November 15th and November 22nd. Far East
expects to disclose a summary of the results of the report shortly after its

"We are looking forward to receiving this initial report on Gas-in-Place
for the Shouyang PSC," said Michael R. McElwrath CEO and President of Far
East. "We anticipated completion in October; however, we extended our target
to no later than Thanksgiving. Because Shouyang is an enormous Block, and
since we are exploring new areas with new wells on a constant basis, NSAI is
considering as much new data as possible in this first report. We have
encouraged that approach in order to optimize the results of the initial
study, while recognizing that more data gleaned from future wells will result
in supplemental reports. This report will be a very important indicator of
the potential of Shouyang, and we are anxious to receive it."

As previously announced, the NSAI resource report covering the overall
resource base, or Original Gas-in-Place will be followed, subsequent to
year-end, by a report covering SEC reserves in the Shouyang Block calculated
as of December 31, 2010.

About Far East Energy Corporation

Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan
City, China, Far East Energy Corporation is focused on CBM exploration and
development in China through its agreements with ConocoPhillips and China
United Coalbed Methane Company, Ltd. (CUCBM).

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.

Statements contained in this press release that state the intentions,
hopes, 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: 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 CUCBM, 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, +1-832-598-0470, bhuff at fareastenergy.com; or David Nahmias, +1-901-218-7770, dnahmias at fareastenergy.com, Catherine Gay, +1-832-598-0470, cgay at fareastenergy.com, all of Far East Energy Corporation

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