EXHIBIT 10.30
Xxxxxxxx China Inc.
000 X. Xxxxx Xxxxxxx Xx.
Xxxxxxx, Xxxxx 00000
December 15, 2003
Xx. Xxxxxxx X. XxXxxxxxx
Chairman & CEO
Far East Energy Corporation
000 X. Xxx Xxxxxxx Xxxxxxx Xxxx, Xxxxx 000
Xxxxxxx, Xxxxx 00000
Re: Amendment to Farmout Agreement - Shouyang PSC between Xxxxxxxx China Inc.
("PCI") and Far East Energy Corporation ("FEEC")
Dear Xx. XxXxxxxxx:
The purpose of this amendment agreement is to extend the term of the Farmout
Agreement for the Shouyang PSC that was executed by and between PCI and FEEC on
June 17, 2003 (the "Shouyang Farmout Agreement"), subject to the approval of the
extension of the term of the Shouyang PSC as described in paragraph 1 below. The
Shouyang Farmout Agreement provides in Article 2.1(b) that it will terminate on
December 31, 2003 if the required governmental approvals have not been received
by such date. Article 2.2 of the Shouyang Farmout Agreement further provides
that the Parties may mutually agree to extend the term for a reasonable period
of time.
The terms used in this amendment agreement that are not otherwise defined herein
shall have the same meaning assigned to them in the Shouyang Farmout Agreement
and the Shouyang PSC.
1. The Parties hereby agree to amend the first line of Article 2.1(b) of the
Shouyang Farmout Agreement by deleting the date "December 31, 2003" and
replacing it with the date "June 30, 2004," thereby extending the term thereof
to June 30, 2004, provided that such extension shall not become effective unless
the extension of the term of the Shouyang PSC has been approved by the Ministry
of Commerce of the PRC on or before December 31, 2003.
2. The term of this amendment agreement shall commence on the date first written
above and shall terminate on the same date on which the Shouyang Farmout
Agreement terminates.
3. This amendment agreement constitutes an amendment to the Shouyang Farmout
Agreement. Neither Party may make any press releases or other public disclosures
of the existence or the contents of this amendment agreement without the prior
written consent of the other Party.
4. This amendment agreement shall be construed and interpreted in accordance
with the laws of the State of Texas, U.S.A., except those laws that would apply
the laws of another jurisdiction. Any dispute between the Parties arising out of
or relating to this amendment agreement, which cannot be settled amicably by the
Parties, shall be submitted to arbitration in accordance with the provisions of
Article 12 of the Shouyang Farmout Agreement.
5. This amendment agreement shall inure to the benefit of and be binding upon
the successors and assigns of the Parties.
6. Except as otherwise provided in this amendment agreement, the Shouyang
Farmout Agreement shall remain unaltered and in full force and effect.
If the foregoing accurately reflects your understanding of this amendment
agreement, please indicate your acceptance by signing and dating this letter
agreement in the space provided below and return one executed copy to PCI.
Sincerely yours,
XXXXXXXX CHINA INC.
By: /s/ X. X. Xxxx
------------------------------------
Name: X. X. Xxxx
Title: Vice President
AGREED TO AND ACCEPTED
this 15th day of December, 2003
FAR EAST ENERGY CORPORATION
By: /s/ Xxxxxxx X. XxXxxxxxx
------------------------------------
Name: Xxxxxxx X. XxXxxxxxx
Title: Chairman & CEO
