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LNG, LIQUEFIED NATURAL GAS LIMITED
arty
post Posted: Jan 9 2014, 12:46 PM
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In Reply To: mercury's post @ Dec 14 2013, 09:39 AM

Today's announcement http://www.asx.com.au/asx/statistics/displ...;idsId=01482349 seems to suggest they raised sufficient funds to progress Magnolia. And today's buyers seem happy to get a share at a 10% discount to the fund raiser.

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I know I am smile.gif

Weekly chart looks set to hold the current Fib level, although volume is still a little low.

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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
mercury
post Posted: Dec 14 2013, 09:39 AM
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In Reply To: veeone's post @ Dec 9 2013, 10:48 AM

seems bookbuild didn't get the price they hoped for.

merc




 
veeone
post Posted: Dec 9 2013, 10:48 AM
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Firing on all cylinders at the moment. V1
EQUITY PLACEMENT TO FURTHER PROGRESS MAGNOLIA LNG PROJECT

Highlights:

The Company is undertaking a placement of c.45m shares to institutional and sophisticated investors.

Foster Stockbroking appointed Lead Manager.

ASX BookBuild Facility is being used to allow all eligible investors to participate.

Lead Manager to pay stamping fee of 2.00%.

Pricing to be set via a bookbuild process, with the opening price set at $0.34/sh.

Placement expected to raise a minimum of $15.3m.

Following the equity raising, the Company will be well funded to progress Magnolia LNG on a 100% ownership basis in calendar year 2014.





 
veeone
post Posted: Oct 24 2013, 09:38 AM
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Yup should have dumped WCL!!!


STONEPEAK PARTNERS SIGNS DEFINITIVE AGREEMENTS FOR US$660M EQUITY FUNDING FOR MAGNOLIA LNG PROJECT

New York infrastructure fund Stonepeak Partners LP underwrites full equity requirement of US$660 million, for the construction and commissioning of Magnolia LNG from Final Investment Decision to Commercial Operations Date (first LNG production)

Stonepeak Partners LP to assist Magnolia LNG to negotiate and execute all Definitive Project Agreements and to access Project Debt Financing of US$1.540 billion

Liquefied Natural Gas Ltd ("the Company") is pleased to confirm that wholly owned subsidiaries of the Company and Stonepeak Partners LP ("Stonepeak") have signed a legally binding Equity Commitment Agreement, including the agreed final form of the Magnolia LLC Agreement, to provide 100% of the construction equity for the Company's Magnolia LNG Project ("Magnolia LNG" or "the Project") in Louisiana, United States. The total Stonepeak equity contribution is estimated to be US$660 million.

Stonepeak and the Company signed an equity funding and strategic alliance term sheet on 26 July 2013, the key terms of which are incorporated in the Equity Commitment Agreement. Based on the Project's current financial model, Stonepeak's US$660 million equity investment will provide it with an approximate 50% equity interest in the Project, with the Company retaining around a 50% equity interest.

The Stonepeak equity transaction comprises two documents, namely:

i. Equity Commitment Agreement, which governs the relationship, cooperation, rights and obligations between Stonepeak and the Company in relation to the Project through to a Final Investment Decision ("FID"); and

ii. Magnolia LLC Agreement, which sets out the respective rights and obligations of Stonepeak and the Company from FID, including the construction and funding of the Project, the management and governance of the Project, the allocation and distribution of the Project's future profits, and other related matters. The Magnolia LLC Agreement serves the same purpose as a Joint Operating/Venture Agreement or Shareholder Agreement would in Australia. This marks a major milestone for the Company in the development of the Project with equity funding plans for the Project's construction and operations now in place. The key terms of the Equity Commitment Agreement include:
Stonepeak will commit to provide 100% of the Project equity at FID, which is estimated to be US$660 million. Stonepeak will receive an approximate 50% interest in the MLNG Project (based on a predetermined internal rate of return) in exchange for the Project equity funding;

The Company will receive a oneoff success fee on the Project reaching FID, calculated at 3% of the total Project capital cost (the fee is currently estimated to be US$66 million);

Stonepeak has approved the payment by Magnolia LNG to the Company of an OSMR® technology license fee of US$25 million for trains 1 and 2, with 50% payable at FID and 50% payable at Commercial Operations Date. A further payment of US$25 million will be payable for trains 3 and 4 under the same terms;
Stonepeak will assist the Company in securing long term Project debt financing, which is estimated at US$1.540 billion. In this regard, Stonepeak will work with the Company in ensuring all material Project agreements and other documents are in a bankable form. Stonepeak and the Company have selected three parties to present final proposals for the role of Project Financial Advisor; and

Stonepeak will be entitled to appoint one manager to the Board of Magnolia LNG, LLC (the Project ownership company), with no voting rights prior to FID and the commencement of Stonepeak's Project equity financing contribution.



 
veeone
post Posted: Oct 23 2013, 09:08 AM
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LIQUEFIED NATURAL GAS LIMITED (THE "COMPANY") – REQUEST FOR TRADING HALT

The Company requests an immediate trading halt in its securities pursuant to ASX Listing Rule 17.1. In support of the request we provide the following information:

1. The reason for the trading halt is that the Company expects to execute a legally binding Equity Commitment Agreement for US$660 million in relation to the Company's wholly owned Magnolia LNG project on or about the 23 October 2013. The Agreements are with a wholly owned subsidiary of Stonepeak Partners LP, with whom a Term Sheet was executed on the 23 July 2013;

2. The Company considers the Announcement may have a material impact on trading in the Company's securities and as such the market should be provided time to receive and review full details of the Announcement;

3. The Company proposes to issue an announcement to the ASX on or before Friday 25 October 2013 providing details of the Agreements (Announcement);

4. The release of the above Announcement will end the trading halt;

5. The Company is not aware of any reason why the trading halt should not be granted; and

6. The Company is not aware of any additional information it is required to disclose in relation to the request for the trading halt.




Said 'Thanks' for this post: crooky  
 
Barra
post Posted: Jul 26 2013, 11:39 AM
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In Reply To: wolverine's post @ Jul 9 2013, 11:06 AM

"The volumes weren't massive in the scheme of things. They ran the Sgt Schultz defense on the speeding ticket. Perhaps something is in the wind but not signed or locked away yet. "


Guess we know what was in the wind now. LNG has jumped 40% today.

 


mjwk
post Posted: Jul 9 2013, 11:45 AM
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In Reply To: wolverine's post @ Jul 9 2013, 11:06 AM

Sgt Schultz...Sehr Gute Wolver...



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wolverine
post Posted: Jul 9 2013, 11:06 AM
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In Reply To: persistent/2's post @ Jul 9 2013, 09:43 AM

The volumes weren't massive in the scheme of things. They ran the Sgt Schultz defense on the speeding ticket. Perhaps something is in the wind but not signed or locked away yet.



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persistent/2
post Posted: Jul 9 2013, 09:43 AM
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LNG

Vow!! LNG sp from 14.5˘ to an intraday of 21˘, yesterday closing 20˘, but they said nothing abnormal. Any clues?

 
crooky
post Posted: Apr 12 2013, 07:13 PM
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In Reply To: mercury's post @ Apr 12 2013, 01:52 PM

will run out of cash by June , WCL & LNG farked if deal NOT done

 
 


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