HOUSTON, TX and LAGUNA BEACH, CA, United States, via ETELIGIS INC., 02/16/2015 – – SCT&E LNG announced today that it has hired international public accounting firm MaloneBailey, LLP, to conduct an audit of its financial statements prior to a private offering to its accredited investors. The Houston based accounting firm has offices located in Beijing and Shenzhen China. MaloneBailey, LLP has extensive experience in the delivery of SEC audit services to small and mid-cap clients in high level technology, telecommunications, construction, and oil and gas industries. MaloneBailey, LLP will audit SCT&E LNG’s financial statements prior to a private offering to accredited investors.
SCT&E LNG plans to initiate a capital raise of $40 million for the development of its Liquefied Natural Gas (LNG) Liquefaction Plant and LNG Export Terminal to be located on 246 acres of land on Monkey Island, Cameron Parish, Louisiana. SCT&E LNG was recently granted authorization from the Department of Energy (DOE) for export of 12 million tons per annum (mtpa) of LNG to nations with whom the Unites States has a Free Trade Agreement. SCT&E LNG will now begin the next phase of the project development to obtain approval from the Federal Energy Regulatory Commission (FERC) for the siting, construction, and operation of its planned LNG facilities.
The SCT&E LNG project is the largest onshore Greenfield project in the continental United States to have a 30-year export authorization from the DOE to export LNG. CEO Greg Michaels believes the Monkey Island Project offers exceptional value for investors and buyers of LNG. Michaels states, “The project has significant value which will naturally increase as we move through the FERC permitting process and as buyers of LNG execute long-term agreements with the company.”
The project site for the SCT&E LNG Liquefaction Plant and Export Terminal is strategically located in the heart of one of the most robust natural gas transportation networks in North America. Located on the Calcasieu Ship Channel in Cameron Parish, Louisiana, the site is less than three miles inland from the Gulf of Mexico and has deep-water frontage access with additional marine access on the Cameron Loop along Monkey Island’s northern bank. The project, which is expected to bring millions of dollars in tax revenues to the local, state, and federal government, will create more than 2,000 direct construction jobs and support approximately 16,500 to 23,000 jobs nationwide.
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, also 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
SOURCE: SCT&E LNG