re: Anyone holding Tellurian?

This Bloomberg article sounds good for TELL. Gail looking to buy an equity stake in a LNG exporter and enter a long term contract. Anyone besides TELL offering an equity stake to potential customers?

LINK

Yeah, Judge, I'm with you on the construction insight.

I read where FERC granted approval for their pipeline recently. I suppose it could be significant if things move forward.

My dad's uncle lived on the shores of Moss Lake when I was a young child. They had a nice farm and were real pioneers. He and his brothers owned schooners that transported lumber to Galveston and returned with cotton when they were younger.

The area where the homeplace was located has been eroded by the waves from the ship channel for many years as it was presented to me.

Up 10% so far today

quote:

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My dad's uncle lived on the shores of Moss Lake when I was a young child. They had a nice farm and were real pioneers. He and his brothers owned schooners that transported lumber to Galveston and returned with cotton when they were younger.

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Olsen road is named after family.

We used to go there when I was a kid. Still some family land there.

They need to figure out something Becks the 14th of this month to get the land lease triggered...

They'd be part of Dutch Cove cemetery down there then I believe.

Halverson's are down there as well.

Small world.

Any news out?

News today
TELL 8k SEC filing

"On July 18, 2023, Tellurian Inc. (the “Company”) entered into a binding commitment letter (the “Commitment Letter”) with a fund of Blue Owl Real Estate Capital LLC (the “Investor”) regarding the sale and leaseback of approximately 800 acres of land (the “Property”) owned and/or leased by Driftwood LNG LLC, a wholly owned subsidiary of the Company or an affiliate (“Driftwood LNG”), to be used for the proposed Driftwood liquefied natural gas terminal facility (the “Driftwood terminal”) in Lake Charles, Louisiana."

It's not exactly lift off: no FID.
But it does seem to buy them more time, albeit at a pretty steep price.
If I am reading it right. Hope The Judge and others will weigh in...
More from yesterday's 8k filing:

"Pursuant to the Commitment Letter, the transaction (the “Transaction”) will consist of (i) the sale by Driftwood LNG, and purchase by a special purpose entity to be formed by the Investor (the “Purchaser”), of Driftwood LNG’s interests in the Property for $1.0 billion (the “Purchase Price”) pursuant to a purchase and sale agreement (the “Purchase Agreement”) and (ii) upon (and as a condition to) the closing of the transactions contemplated by the Purchase Agreement, a 40-year lease of the Property from the Purchaser to Driftwood LNG pursuant to a master lease (the “Master Lease”). Terms of the Master Lease will include, among others, (i) a capitalization rate of 8.75%, (ii) annual rent escalators of 3.00%, (iii) a requirement that Driftwood LNG post a letter of credit equal to 12 months of rent, and (iv) a requirement that joint and several contingent guarantors of the Master Lease (the “Contingent Guarantors”) hold an investment grade rating of BBB or higher or attain an equivalent shadow credit rating, and be otherwise acceptable to the Purchaser."
...
"Pursuant to the Commitment Letter, the period in which the Purchaser may be obligated to consummate the Transaction will commence on July 18, 2023, and terminate upon the earliest to occur of (i) January 14, 2024,... "

CH4 is the cleanest fuel next to hydrogen itself. Europe now classifies it as a green fuel. America has vast gas reserves.

Then there are idiots who want everyone to go all electric because it is "cleaner." I think they don't know where electric power comes from.

NY is now trying to reduce future use of natural gas by banning new construction hook-ups and forcing large buildings to go electric. It is profoundly stupid to make electric power from CH4 and then heat a home, water and cooking with electric power. To my direct experience in NY, electric heat costs 5 or 6 times that of gas. It's ideologically induced insanity.