Woodside Applies for LNG Terminal Permit

Woodside Natural Gas Inc., a subsidiary of Woodside Petroleum Ltd., Australia’s largest publicly traded oil and gas exploration company, said it has submitted permit applications to the U.S. Coast Guard, the Maritime Administration and the city of Los Angles for approval to build and operate its proposed liquid natural gas terminal, just off the coast from Los Angeles International Airport.

The OceanWay project is designed to bring liquefied natural gas from Australia to California and the Santa Monica-based subsidiary is seeking approval to place two delivery buoys more than 20 miles offshore from LAX. The natural gas will be delivered through an undersea pipeline and join the local gas distribution network. The license review process, including a decision on the license application, must be completed within 356 days of filing. The project is one of several LNG proposals currently being pursed by companies in Southern California.

J2 to Delay Earnings


J2 Global Communications Inc. said it will delay filing its quarterly financial report, as an internal review of its stock-option practices may prompt it to restate prior earnings. The Los Angeles- based company said it going to perform an independent investigation, in addition to a previously disclosed internal review. J2 said any additional compensation expense would not exceed $2.1 million between its 1999 initial public offering through the end of 2005. Shares of j2 Global closed down 2.4 percent at $23.46 on the Nasdaq.

Southwest Water Declares Dividend


Southwest Water Company declared a quarterly cash dividend of 5 cents per share of common stock and 65 cents per share of Series A preferred stock. The dividends are payable on October 20, 2006 to stockholders of record as of September 30, 2006. The Los Angeles-based company provides water production, treatment and distribution; wastewater collection and treatment; and other services to more than 2 million people in California, Texas and New Mexico.