I'll tell you why FERC has not been factored in the current price, because it hasn't happened yet. Last May, Magnolia's application was accepted by FERC. That didn't mean it was just mailed off, it meant that FERC was going to diligently go through the process it takes to approve or disapprove them building a plant. Soon after applying, the stock went from .54 to $2 & $3(also true for Austalia, the currency was .10 different then).
When FERC gives approval, I'd say it's safe to say, LNG Limited penny stock days will be over unless there's a crisis.