FEIS issued, page-2

2 years of significant effort by LNG culminating in today's FERC issuance of FEIS for MLNG, with key statement being ...

The FERC staff concludes that approval of the proposed projects would result in adverse environmental impacts; however, these impacts would be reduced to less-than-significant levels with the implementation of Magnolia’s and Kinder Morgan’s proposed mitigation and the additional measures recommended in the final EIS.

http://elibrary.ferc.gov/idmws/common/downloadOpen.asp?downloadfile=20151113-4001(31020465).pdf&folder=862258&fileid=14044067&trial=1

So with this regulatory milestone achieved, the EPC contract should be next as there is nothing material to stop it being signed off.

And it's worth recalling that FEIS now confirms regulatory de risking, so potential BTA counterparties will be comforted. From my understanding, Board sign off is just pending and that shouldn't now be long.

And just for the record, here's a summary of what LNG has achieved:

14/2/16 - Notice To Proceed (90d deadline after FEIS)
??/??/15 - BTAs
??/??/15 - EPC Wrap KBR & SKEC
19/11/15 - AGM
13/11/15 - FEIS issued
17/7/15 - FERC publishes DEIS
20/5/15 - $174M CR (early works)
1/5/15 - FERC Notice of Schedule
1/5/15 - US Patent granted for OSMR
24/4/15 - Meridian Tolling Agreement Update

And when you consider LNG’s recent achievements (May investor preso - updates since in italics):

KBR agrees to lead EPC joint venture with SKE&C (KSJV)
Bear Head receives UARB permit to construct; holds 9 of 10 key initial permits
Key staffing positions filled at both Magnolia and Bear Head
Second US-based non-executive director appointed
Bear Head signs MOU with the Assembly of Nova Scotia Mi’kmaq Chiefs
Meridian LNG closes GSA with E.On accelerating Magnolia LTA negotiations
FERC Notice of Schedule for Environmental Review received
EPC contract terms and conditions agreed with KSJV
US OSMR® technology patent granted
Receive Magnolia Draft Environmental Impact Study
Sign Magnolia Turnkey EPC contract
Sign binding off take agreements
Bear Head fully permitted
Commence Magnolia early works program agreements
Receive Magnolia Final Environmental Impact Study
MLNG FID and Financial Close
Receive Magnolia Notice to Proceed

And remember a few weeks back, LNG committed to $40M capex Chart.

So expect reaction to Monday's Ann., potentially rescheduled opening briefing and then the AGM.

Go LNG!