FEIS

FEIS is currently set for 16 Nov 2015. As we have yet to be notified that this will be delayed we can only assume that is when it will happen - with a likely announcement on 17 Nov 2015 confirming it has happened.

FERC is 90 days later - Feb 2016. This period from FEIS is fixed by the USA regulators who appear much more business like and enterprise-aware than their equivalents in Aus.

For the impatient short term thinkers, there is no way to hurry up these government processes which seem much more streamlined than in Australia.

Why wouldn't the EPC occur at the last minute from FERC? Given that they are most unusually providing a fixed price, KBR are unlikely to give a fixed price for the EPC till the last minute before FID. Similarly, as LNG will be getting a six month fixed price they also would be unlikely to want to sign the EPC too long before FID - so they get maximum value from 6mth fixed price period.

Why would any other BTA (Nos 2, 3 & 4) be signed by the clients of Magnolia until FEIS is announced? I have always been expecting the next BTA somewhere between FEIS & FERC - and it could be close to FERC.

AGM is on 19 Nov 2015 when I'm sure we will all get an update on these matters. I'm sure LNG is busy ensuring the project-financing side is firmed up.

As for the shorters and day traders - they would spread any number of negative rumours and prophecies of doom to further their cause, wouldn't they? Just like they have done over the last 3-4 months. They are certainly not out to do any favours to those who are long on LNG - although they may claim they are just trying to inform people because of their altruistic tendencies. After all, it is in their interest to lower the price to make a profit on the way down and change tack to buying if they can pick the bottom.

Whenever more good news comes, which looks to be soon, it is likely to come in a swarm and the rapidity of the price rise will surprise many as it has done previously. I really don't have much sympathy for the parasites, but feel for other retail investors who have had their faith shaken. I don't have a lot of time for the Aussie institutions who have once again largely missed the boat in not supporting this great Australian success story that has unfortunately become increasingly owned in the USA at prices that in future will be seen as give-away prices. The Aussie institutions, with their normal short attention spans and shifting allegiances think that selling out overseas is what success looks like. They don't seem to be able to comprehend that real success is in developing a multinational company - like LNG is now becoming - that will continue to grow strongly over the long term. They have forgotten that Australia was the starting place of quite a few of these - including BHP, Rio, News Corp, CSL, Resmed etc.