Monsieur Wilson, like you, I’m not interested in responding to...

Monsieur Wilson, like you, I’m not interested in responding to attention seeking or automated-like responses, I simply post information for the benefit of long-term shareholders who have invested and lost a lot of money in this Company.

Vesey and other Office Bearers are now strategically placed ‘out of the picture’ allowing the Administrators to go about their job of salvaging what’s left of the Company, by either allowing it to continue operating under a different structure or selling of assets like the OSMR technology (which has been transferred to a US based Limited Liability subsidiary of the Company) to provide a comparatively poultry return to former long-time supporting shareholders.

‘Out of the picture’ does not mean ‘out of sight, out of mind’. Those Office Bearers, particularly Greg Vesey played major roles in getting the Company into the position it is now in and all still remain accountable for statements they made.

Over the last four years we heard many statements referring to this Company being ‘low risk’ and ‘at the front of the next wave of US LNG projects’ and now here we are in Voluntary Administration while those other projects are funded and still have strategies in place to keep them going.


Here are just some of the statements I’m referring to being made over the last four years:

“While our competitors struggle to offer any firm execution plans, LNGL instead continues to provide certainty on all fronts”

“Our fact-based disclosures are truly differentiating Magnolia LNG and demonstrate a significant competitive advantage for LNGL”

“Competitor Projects carry undeniable risk relative to Magnolia”

“Magnolia LNG is the next U.S. Gulf Coast Project”

“It’s not a matter of if, it’s a matter of when”

“Magnolia LNG Delivers Certainty”

“LNG is favourably differentiated from the competition”

“External parties recognizing Magnolia LNG is poised to lead next wave”

“Our projects are best positioned to deliver at the front of next LNG wave”

“Over the last quarter, our discussions with potential offtakers have gained momentum”

“We remain confident in our ability to sign offtake agreements with credit-worthy buyers”

“Magnolia is positioned to be the first second wave greenfield LNG project”

“Our projects are best positioned to deliver at the front of next LNG wave”

“LNGL’s projects are extremely well situated to timely deliver new supply”

“External parties recognize Magnolia LNG is poised to lead next wave”

“Any prediction from other LNG developers as to when they will receive all the necessary permits and approvals is purely speculative and unreliable”.

“Public statements relating to the timing of FID by unpermitted LNG export projects are purely speculative and unreliable”

“I would encourage people to read each of those statements carefully” “Many are headline grabs” and “they contain elements we would never incorporate”