LAGUNA BEACH, CA and HOUSTON, TX, United States, via ETELIGIS INC., 11/06/2014 – – SCT&E LNG, who is in the early development stages of a liquefied natural gas (LNG) export facility, announced today that the company has retained the boutique law firm Weed & Co. of Newport Beach, California, for assistance with a $40 million dollar Private Offering. Richard O. Weed of Weed & Co. specializes in public offerings, private placements, SEC compliance/registration, and securities filings. Initially, SCT&E LNG plans to raise $40 million through a self-underwritten private offering and will use the funds for regulatory and operational expenses to be incurred during the early stages of its proposed LNG Facility on Monkey Island in southwest Louisiana. SCT&E LNG’s project is currently modeled as an LNG Tolling Facility utilizing cryogenic technologies to liquefy natural gas for global export. SCT&E LNG estimates that $40 million will move the company through the initial entitlement process, specifically focusing on the Federal Energy Regulatory Commission’s (FERC) authorization of the siting and eventual construction of the Monkey Island LNG export facility. SCT&E LNG believes that after the FERC application is submitted, the value of SCT&E LNG’s project will increase dramatically. Earlier this year, SCT&E LNG submitted two requests for export authorization to the Department of Energy. SCT&E LNG expects the U.S. government to approve its application to export LNG to nations with Free Trade Agreement’s very soon.
In the U.S., a private placement of securities to accredited investors is exempt from the registration requirements of the Securities Act of 1933 under Regulation D of the Securities Act Rules. The proposed offering is consistent with Mr. Weed’s experience. “Rick is a very bright and experienced lawyer and a solid legal choice for this offering,” says Greg Michaels, CEO of SCT&E LNG. “The industry knowledge that Rick brings is impressive. He will represent the company well.” SCT&E LNG expects to have the PPM completed within thirty days.
Mr. Weed holds a Bachelor of Business Administration degree in International Business from the University of Texas at Austin and a Master of Business Administration degree from the University of Southern California (USC), Michaels’ Alma Mater. Mr. Weed holds a Juris Doctor degree from St. Mary’s University School of Law and belongs to the Orange County Bar Association, State Bar of California, and State Bar of Texas. Mr. Weed is licensed to practice law in California and Texas.
About SCT&E LNG:
Originally established by Southern California Telephone Company, a successful twenty-year, privately owned United States Public Utility Company, SCT&E LNG was created for the development of a Liquefied Natural Gas (LNG) Manufacturing and Export Terminal. The SCT&E LNG project is currently modeled as an LNG Tolling Facility utilizing cryogenic technologies to liquefy natural gas for the exportation of natural gas globally. Plainly stated, the SCT&E LNG plan is to liquefy approximately 1.62 billion cubic feet per day of natural gas to create approximately 12 million tons per annum of LNG at its future facilities on Monkey Island, Cameron Parish, Louisiana. Southern California Telephone Company, doing business today as SCT&E, includes its subsidiary North Energy Central whose principals have built over $5 billion in power generation projects worldwide. Originally founded in 1994 by CEO Greg Michaels, SCT&E is a vertically integrated Telephone, Energy, and Power Generation Corporation, offering Telecommunication Services as well as Energy Services, including renewable energy and energy efficiency solutions, thus blending the world of utility mediums.
SCT&E has multiple locations, with its corporate office headquartered in Temecula, California. SCT&E owns and operates a redundant telecommunications network and maintains facilities on both coasts of the United States. SCT&E holds a U.S. Federal Energy Regulatory Commission (FERC) Authority allowing it to buy and sell energy nationwide in both the wholesale and retail markets.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks, uncertainties, and assumptions that include expected earnings, future growth and financial performance, and typically can be identified by the use of words such as “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe”, “optimistic,” “intend,” “will,” and similar terms. Although SCT&E LNG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially from those anticipated in these forward-looking statements. A variety of factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the oil, gas and LNG industries, weather conditions, competition and developments in oil, gas and LNG markets beyond the Company’s control, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the oil, gas and LNG markets, changes in government regulations of markets and of environmental emissions, the condition of capital markets generally, securitization of sufficient capital or a strategic business arrangement to fund its plan of operation, the Company’s ability to access capital markets, management resources and infrastructure necessary to support the growth of its business, unanticipated facilities outages, adverse results in current and future litigation, failure to identify or successfully implement acquisitions (including receipt of third party consents and regulatory approvals), failure to acquire or transact on off-take agreements, and other risk factors related to the liquefied natural gas and related and connected business.
All forward-looking statements attributable to SCT&E LNG or persons acting on its behalf are expressly qualified in their entirety by these factors. SCT&E LNG undertakes no obligation to update or revise any forward-looking statements, other than as required under applicable securities laws, whether as a result of new information, future events or otherwise. The foregoing factors could cause SCT&E LNG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release and should be considered in connection with information regarding risks and uncertainties that may affect SCT&E LNG’s future results.
Assistant to Greg Michaels
Southern California Telephone & Energy
SOURCE: SCT&E LNG, LLC