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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 15, 1997
Cheniere Energy, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-9092 95-4352386
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(Commission File Number) (IRS Employer Identification No.)
Two Allen Center
1200 Smith Street Suite 1710
Houston, Texas 77002-4312
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(Address of principal executive office) (Zip code)
Registrant's telephone number, including area code: (713) 659-1361
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None
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On September 22, 1997, Cheniere Energy, Inc. (the "Company") repaid a short
term promissory note (the "Note") in the principal amount of $500,000 held by an
individual. The Note, which carried an annualized interest rate of 10% and was
collateralized by an approximately 1.85% working interest participation in the
Company's 3-D seismic exploration program in southern Louisiana (the "3-D
Exploration Program"), had a due date of August 28, 1997, which was later
extended to September 29, 1997.
On August 28, 1997, the Company extended the scheduling of additional payments
to Zydeco Exploration, Inc. ("Zydeco") relating to the 3-D Exploration Program,
to December 31, 1997. The Company has currently funded $13.5 million of Seismic
Cost payments to the Program and is responsible for 50% of the remaining Seismic
Costs ("Excess Costs") incurred through December 31, 1997 to earn a 50% working
interest level in the seismic data and leasing and drilling activities of the
3-D Exploration Program. The Company's share of Excess Costs, by its own and
Zydeco's estimate, is approximately $2.9 million. Failure to pay any of the
Excess Costs would result in a proportionate reduction of the Company's working
interest participation.
Item 9. Sales of Equity Securities Pursuant to Regulation S.
During September, 1997, pursuant to Regulation S promulgated under the
Securities Act of 1933 ("Regulation S"), the Company sold an aggregate of
207,000 shares of the Company's Common Stock to two existing offshore
shareholders and received gross proceeds of $591,000. Placement fees for such
sales of $59,100 were paid to Henri-Pierre Duc, a nonexclusive agent.
Gross Cash
Share Gross Placement
Date Shares Price Proceeds Fee Net Proceeds
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9/15 67,000 $3.00 $201,000 $20,100 $180,900
9/16 130,000 $3.00 $390,000 $39,000 $351,000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CHENIERE ENERGY, INC.
By:/s/ KEITH F. CARNEY
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Keith F. Carney
Chief Financial Officer and Treasurer
Date: September 24, 1997
