Liquefied Natural Gas Ltd Stock Market Press Releases and Company Profile
A$49.5 Million Capital Raising to Fully Fund Magnolia LNG
A$49.5 Million Capital Raising to Fully Fund Magnolia LNG

Perth, May 5, 2014 AEST (ABN Newswire) - Liquefied Natural Gas Limited (googlechartASX:LNG) (googlechartLNGLY:OTCMKTS) (LNGL or the Company) advises that it has raised A$49.5 million with a placement of 90 million ordinary shares at A$0.55 to US and Australian institutional investors (Placement). The Placement will be made in two tranches with 31,207,254 shares placed under the Company's placement capacity in accordance with ASX Listing Rules 7.1 and 7.1A, and the placement of 58,792,746 shares subject to shareholder approval.

The Placement received very strong demand from existing Australian institutional shareholders and a group of US institutional investors, with the Company welcoming Fairview Capital Asset Management, LLC (www.fairviewcap.com) as a new substantial shareholder and Claren Road Asset Management, LLC as a significant new shareholder.

Foster Stockbroking Pty Ltd acted as Sole Lead Manager and was supported by the Company's US advisor, New York based EAS Advisors LLC, acting through Merriman Capital, Inc.

Managing Director and Joint CEO Comments

The Company's Managing Director, Maurice Brand, said: "This is a significant milestone for the Company and the strong demand for the Placement is recognition of the outstanding progress that Magnolia LNG has achieved to date. In regard to the FERC application filed last week, the Magnolia LNG Project is placed among a small group of projects to have formally filed".

"The Company plans to use some US$30 million to fully fund Magnolia through to 30 June 2015 with the balance of funds to be used for LNGL working capital including the identification of other LNG opportunities".

"To the end of April 2014, the Magnolia LNG Project has expensed a total of US$11 million, including the delivery of its filing application to FERC. While these costs are substantially lower than what has been reported by other US LNG developers, Magnolia LNG has had the benefit of a considerable amount of technical, engineering and development work that was associated with the Company's Fisherman's Landing Gladstone LNG project in Australia".

"With this funding in place the team is now fully focused on delivering the EPC contract and entering into binding Liquefaction Tolling Agreements", said Mr Brand.

Placement Timetable
-----------------------------------------------------------Event                                          Date-----------------------------------------------------------Settlement of unconditional Placement                  Monday, 12 May 2014shares (tranche 1)                                             Allotment of new shares under the                    Tuesday, 13 May 2014unconditional Placement (tranche 1)Extraordinary General Meetingto approve                              Monday, 16 June 2014conditional Placementof shares (tranche 2)Settlement of conditional Placement shares           Tuesday, 17 June 2014(tranche 2)Allotment of new shares              Wednesday, 18 June 2014under theunconditional Placement (tranche 1)-------------------------------------------------------------
Note - the above timetable is indicative only and subject to change.

About the Magnolia LNG Project

The Magnolia LNG Project is 100% owned by Magnolia LNG LLC, which is a wholly owned subsidiary of Liquefied Natural Gas Limited. The project comprises the proposed development of an 8 mtpa LNG project on a 115-acre site, in an established LNG shipping channel in the Lake Charles District, State of Louisiana, United States of America.

The development is based on the development of 4 x 2 mtpa LNG production trains using the Company's wholly owned OSMR® LNG process technology and the completed LNG plant front end engineering and design of the Company's Gladstone Fisherman's Landing LNG Project in Queensland, Australia.

The business model being adopted for the Magnolia LNG Project is to provide liquefaction services to LNG buyers who pay a monthly fixed capacity fee, plus all LNG plant operating and maintenance costs. In addition, each LNG Tolling Party is responsible for supplying and transporting gas to the Magnolia LNG Project at its own expense.

To view figure 1 and the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-LNG-676797.pdf


About Liquefied Natural Gas Ltd

Liquefied Natural Gas Limited (ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:

- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;

- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;

- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and

- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.

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Contact

Liquefied Natural Gas Limited
T: +618-9366-3700
F: +618-9366-3799
WWW: www.lnglimited.com.au



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