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Yup, either they are foolishly spending good money after bad, or they have a plan. I choose to believe wholeheartedly that they have a plan, no matter how procrastinating and how much of a delayed there is.
$1.3MM invested in principal plus accrued interest. Yeah, they have no intention of using this shell...
https://www.sec.gov/ix?doc=/Archives/edgar/data/1066684/000141057824000806/tglo-20240331x10q.htm
Wrong, very wrong. For one, Dino is hardly ever home nowadays, second, Dino has a lot more shares, than what was sold today between 11-14 cents, in other words, if Dino sold today you would have known when the stock crashed below 8 cents, Dino is not an idiot to sell at 11 cents when the ask is 0.1975, Dino is also aware that dynamic could change.
It’s within the 9 months beginning 6/1, if granted. Let’s see what the DOE comes back with.
Only a couple of weeks left before the license expires.
Just dino jumping ship is all...History always repeats itself
I don’t normally comment on the trading action mostly because I don’t care about the day to day price. But after looking at today’s trading tape, it sure looks more manipulated than usual. Come on man! Ask went from .1975 to .11 for a big block trade? Hum?
Agree with XL. January, if it goes that long, DOE will acquiesce and let the boys move forward.
All will be fixed on 01-20-2025
They conceded to submitting a new DOE application if they don’t secure the MARAD license within whatever timeline the DOE establishes.
The inexcusable MARAD and NMFS delay and findings for additional analysis are the only arguments they have really for a suit and it’s an uphill battle years down the road that likely won’t move the project forward.
Sounds like they’re just making the best case they can and willing to go through all the hoops again if it fails.
It was a very frank letter. Written for comprehensive coverage. Sounds like L&W is building a case. No one wants a lawsuit, but when a regulator refuses to do its job, there are only a few paths to rectify that.
Notable absence of recognition of Jerry's public comment in support.
Also notable absence of reply to the negative comment made about TGLO as a financing option LOL
You mean 9 months. They start talking about it on page 10-14.
The document was great, except that part was a bit all over trying to cover each scenario and unsure of itself.
They suggested extending it to 12-15 months or doing away with it all together, but if they didn’t then Delfin would commit to the 9 months with MARAD approval and if they failed to get the DWPA license then they would submit a new application with the DOE.
Cant address this at the moment but could somebody tell me whether they're still looking for the 90-day extension from DOE or did they go all in?
I can provide the actual time frame for the MARAD license.
January 20, 2025 at 1201 hours
“ First, the new and evolving nature of the FLNGV industry is a factor outside of Delfin’s
control that required it to spend years “to refine its project repeatedly to reflect advances being
made in the FLNG industry, to comply with the ‘best technology’ requirements of the DWPA,
market demand and expectation, and the desire to improve efficiency and environmental
performance.” These actions -- including switching from the original plan of a conversion
FLNGV to a new-build FLNGV, and improving on existing FLNGV design to reduce emissions
– which are not present for land-based LNG export projects, have delayed the Project.
Second, the U.S. – China trade war was an extenuating circumstance outside of Delfin’s control which set back the development of its Project after an early concentrated focus on Chinese investment, construction, and off-take.
Third, the COVID-19 pandemic, an incontestable albeit generally applicable extenuating circumstance, had an adverse impact that caused further delays on Delfin’s project by retarding the necessary commercial contracting. Sierra Club and CBD fault Delfin for “fail[ing] to provide any explanation addressing how COVID-19 continues to hinder their construction and operational plans.” Delfin did not and would not suggest that COVID continues to do so: rather the point is that the pandemic further delayed the commercial success of the Project, which took off starting in 2022.
A fourth extenuating circumstance, the MARAD final licensing process – detailed in the Request at 22-27 and updated in the next section of this Answer – is manifestly outside of Delfin’s control. This regulatory process, not applicable to any of the other LNG export projects with non-FTA authorizations, has undoubtedly and significantly further delayed Delfin’s Project.
Finally, in yet another extenuating circumstance outside of Delfin’s control, there are only a few shipyards in the world capable of constructing Delfin’s FLNGVs and they all have limited slots allocated for ship construction and require binding commitments to proceed.
Combining the unique nature of Delfin’s FLNGV approach and the MARAD process, this extenuating factor of world ship-building capabilities has further delayed the Project. Delfin submits that the combination of all of these extenuating factors resulted in significant delays in the Project and Delfin’s inability to comply with its original export commencement deadline, clearly satisfying one criteria of the Commencement Extension Policy.
Turning to the other criteria of the Commencement Extension Policy, Sierra Club / CBD also argue that Delfin fails to satisfy the “physical construction” requirement. To the contrary, the bulk of Delfin’s Deepwater Port (which does not include the FLNGVs themselves) has already been constructed, as Delfin is efficiently re-purposing existing offshore pipelines to transport feedgas to its vessels.
In response, Sierra Club / CBD counter that “this construction was already completed prior to authorization of this project.”
They do not explain why pre-
existing facilities cannot satisfy the construction prong of the Commencement Extension Policy. Moreover, as stated in the Request, “Delfin has invested tens of millions of dollars purchasing, maintaining, and preparing this infrastructure for use as the foundation of its Deepwater Port.” Thus, Delfin has moved forward with the already constructed infrastructure in the development
of its Project.
Furthermore, as suggested above and emphasized in the Request, project construction for Delfin is very different than for land-based LNG export projects. A land-based project with a FERC authorization in hand – presumably the model contemplated in the Commencement Extension Policy, as the status of all non-FTA authorization holders other than Delfin – can readily commence construction by hiring available labor to begin physical construction of the authorized project facilities. In contrast, absent its final DWPA license, Delfin can neither construct its Deepwater Port (with the limited additional construction that will be added to the existing offshore pipelines) nor rationally commence construction of a multi-billion-dollar FLNGV in an overseas shipyard.”
Thank you for posting
" Yet, Delfin is not submitting a new application to MARAD, which would require preparation of a new EIS from scratch and then a decision within that statutory timeline: rather, Delfin is amending an already conditionally approved application, with supplemental NEPA review of the prior FEIS. In Delfin’s opinion, that supplemental review will confirm the conclusions of the EA submitted to MARAD over a year ago, which demonstrated reduced impacts compared to the prior FEIS. Therefore, Delfin remains hopeful that it may still obtain its DWPA license this calendar year, though admittedly almost certainly not until near the end of the year. "
https://www.energy.gov/sites/default/files/2024-05/Delfin%20Response%20to%20comments%20on%20DOE%20Extension%20Request%20%2851424%20FINAL%29.pdf
What if….and I’m only spitballing ideas here, but what if Delfin leases some of this empty retail space around the nation, and then sells super hot buttered popcorn and giant sodas with extra high fructose corn syrup? Wayyyyyyt for it….all at a 3000% MARK UP?! Oh yeah, and they’ll show Hollywood movies too…because that would be like a 10 dollar stock all day long
History always repeats itself. We will know in time if TGLO will repeat history again.
$TGLO was kinda like the original meme stock....we should be flying today! ;)
I was gonna sell all my ASKH any maybe get 1 GME 😂
It's not this Mexican. CAYO
Any guesses as to who might be dumping to chase GME again?
Hahhaha AMEN!!!!!
Wednesday November 6, 2024. Price will move UP.
Looks to me like you folded.
CHEERS ^^
Just look at the movie "Flash of Genius"
Created the intermittent windshield wiper and got i think 10-15 million. They tried to kill him too, and not over fuel just over a friggin windshield wiper system.
It was a 1960 galaxie, sorry I left that out
The papers i had shower people in F150's getting close to 1100-1200 miles a tank with vaporization.
80 L tank
My father always told the story of my great aunt, who was the head secretary for the CEO of Macy's in New york. She bought a brand new Ford Galaxie 500 off the showroom floor. It was something they weren't supposed to sell. 2 weeks after she bought it the dealership called her and wanted to buy it back, she refused. It had an experimental carb in it. We and her other family lived in Rhode Island, approximately 180ish miles each way. She could make that round trip on 1 quarter of a tank of gas. As the story goes they called her for 3 straight years and basically told her to come and pick a car off the lot if she would trade it in. She finally gave in and got another new car for free. The tech is out there for sure. The big companies just buy out the patents and bury the tech. All about the Benjamins!
Had papers years ago in how to build these, was incredibly easy.
6' of stainless 1/2 or 3/8 tubing, 3" sch 40 pipe 2-3 feet long. Had an inlet and outlet tied into your exhaust manifold and end caps welded onto the 3" chamber.
Push vaporized fuel into your distributor.
Now that is truly cool information and there's no reason to doubt what you say isn't true. Both sides were doing some pretty amazing things during those years technologically speaking.
We went from the Wright brothers to jets in such a short period of time. It still blows my mind, what we are capable of good and bad!
Fuel vaporization. They were the test group for that tech rumour has it.
Created a chamber off the exhaust, ran a coiled fuel line off it. The chamber would super heat the fuel causing it vaporize. This gave his tanks close ti 1.5-2x their normal running distances
Even better, requiring no fossil fuel nor lithium, was General Patton's FUSAG army group 1943.
It could be argued that these tanks were the most effective during World War II!
Heheh electric tanks. Would be interesting 😂
I mean honestly, we have so much better use to put child labour into than farming for rare earth cobalts etc.
We need to take the surplus EVs, melt them down, and turn them into tanks.
With billions of dollars at stake in U.S. Presidential Elections, we are fools to believe that no rigging takes place. In fact, it is fairly clear that the object of the game is to out rig the other son of a bitch.
I hope Trump gets his billion, because it’s the only shot I have to get my million.
Between ice cream cones and naps, Biden has built an economic house of cards on the side of the Grand Canyon. It won’t take much of a breeze to send the cards fluttering into the abyss. Everyone instinctively knows this whether pride allows them to admit it or not.
Hahahhahahahahhaha
I heard a rumor, but my WP contacts will not confirm nor deny, that he also may auction off Stormy, Melania, Ivanka, and perhaps Eric.
Hey I get frustrated and lash out the FERC thing really did me in I thought everyone was getting their payday then. Oh well live for another day all good here I don’t know the industry but everybody here does keep up the good work and let’s slay these bastards
TGLO (theglobe.com)
Delfin Midstream LLC. (Parent Company)
LNG developer Delfin Midstream LLC is the majority owner (71%) of TGLO with 312,825,952 shares
(https://delfinmidstream.com)
DELFIN DOE EXTENSION REQUEST:
05/31/2024: Notice Tolling Expiration of Non-FTA Authorization Pending DOE Action
03/01/2024: Request of Delfin LNG LLC for Supplemental Order Granting Conditional Extension of the Time for Long-Term Authorizations to Export Liquefied Natural Gas
DELFIN FERC STATUS UPDATE:
10/05/2023: FERC Grants Delfin's Request for a 4-Year Extension
RECENT MEDIA NEWS/BILLION DOLLAR AGREEMENTS:
2/14/2024: Chesapeake Energy Corporation, Delfin LNG and Gunvor Sign Long-Term Liquefaction Offtake Agreement Indexed to Japan Korea Marker
11/27/2023: Delfin Midstream Signs Long-Term LNG Supply Agreement with Gunvor
8/22/2023: Delfin Accelerates the Development of FLNG Vessels in Partnerships with Wison Offshore & Marine
7/11/2023: Centrica Sings Major LNG Supply Agreement
6/8/2023: Delfin Enters Strategic Investment Agreement with Mitsui O.S.K Lines
4/24/2023: Delfin Signs LNG Sale and Purchase Agreement with Hartree
9/5/2022: Delfin Midstream and Devon Energy Enter into LNG Export Partnership
8/9/2022: Delfin signs LNG agreement with Centrica (15 year, estimated at $8 billion)
7/13/2022: Delfin finalizes offtake agreement (15 year, estimated $3 billion in revenue) with Vitol which includes a strategic investment in Delfin
REVERSE MERGER POTENTIAL:
Event Date: 12/31/2017: Delfin Midstream, LLC. became the majority owner (70.9%) of TGLO (theglobe.com) with 312,825,952 shares. Below are the corresponding filings and a subsequent article, alluding to the possiblity of a reverse merger based on the trend of other LNG companies performing reverse mergers (e.g., TELL). NOTE: As of TGLO's last 10Q filing (May 14, 2024), Delfin has continued to fund TGLO through loans, totaling $1,330,000.
1/10/2018: Delfin Midstream, Inc., Form 3
1/11/2018: TGLO, Form 13D
1/11/2018: S&P Global Article: "Delfin LNG developer says it may merge into idled company it bought 71% of"
The developer of the proposed Delfin LNG export project said in a Jan. 11 filing with the SEC that it may complete a reverse merger with theglobe.com after buying a 71% stake in the idled technology company on the last day of 2017.
In the filing, Fairwood Peninsula Energy Corp., which owns LNG developer Delfin Midstream LLC, said it was appointing Fairwood Director William "Rusty" Nichols as chairman of the board, CEO and CFO of theglobe.com. "In addition, Delfin Midstream currently anticipates that it may enter into an agreement with the Issuer to merge into the Issuer, sell its assets to the Issuer or otherwise consolidate all of substantially all of the Issuer's business with Delfin Midstream," the filing said. "However, there can be no assurance that the Issuer will be successful in consummating any such transaction in the near future, if at all."
Delfin on Dec. 31, 2017, closed a $25,000 deal to buy a majority stake in idled tech company theglobe.com Inc. for less than a penny per share. As of market close on Jan. 11, Delfin's nearly 313 million shares were worth nearly $63 million.
A source familiar with the matter had previously told S&P Global Market Intelligence on condition of anonymity that a reverse merger was one of the options the company was considering. The Jan. 11 filing is the first official word from the company on the development.
Two other U.S. LNG export hopefuls have gone public via a reverse merger over the past year as they seek access to capital markets to help finance multibillion-dollar project proposals. Tellurian Inc., which was co-founded by the former CEO of U.S. LNG export pioneer Cheniere Energy Inc., in February 2017 closed on a reverse merger with the former Magellan Petroleum Corp. NextDecade Corp. in July 2017 completed a deal with blank-check company Harmony Merger Corp. Both Tellurian's Driftwood LNG and NextDecade's Rio Grande LNG projects are awaiting approval from the Federal Energy Regulatory Commission.
The $7 billion Delfin LNG export terminal is one of four fully permitted U.S. projects awaiting a final investment decision. The developer has signed a nonbinding agreement with China Gas Holdings Ltd. for 3 million tonnes per annum of LNG for 15 years starting in 2022.
The 13 mtpa project in June 2017 received authorization from the U.S. Department of Energy to export to countries with which the U.S. does not have a free trade agreement. The location of the proposed facility, about 40 nautical miles off the coast of Cameron Parish, La., makes the offshore portion of the project subject to the Deepwater Port Act and the jurisdiction of the U.S. Coast Guard and the U.S. Department of Transportation's Maritime Administration, which approved the project in March 2017.
The Delfin LNG project would be the first offshore liquefaction terminal in the U.S.
DELFIN MIDSTREAM'S PROJECTS:
Delfin LNG Overview
Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to four FLNG Vessels producing up to 13 million tonnes of LNG per annum. Delfin purchased UTOS pipeline, the largest natural gas pipeline in the Gulf of Mexico, in 2014 and submitted its Deepwater Port license application in 2015. Delfin LNG received a positive Record of Decision from the Maritime Administration (MARAD) and approval from the Department of Energy for long-term exports of LNG to countries that do not have a Free Trade Agreement with the United States for up to 13 MTPA.
https://delfinmidstream.com/wp-content/uploads/2024/06/Delfin-Midstream-Corporate-Presentation-June-2024.pdf
Avocet LNG Overview
Delfin owns a second pipeline system (Grand Chenier) which can be used for either:
-A second Deep Water Port (Avocet LNG) or a Delfin LNG expansion for an additional 2 FLNGVs of up to 8 MTPA in total; or
-An increased feedgas supply option for the Delfin LNG Deep Water Port allowing Delfin LNG to be fed by two pipeline systems, giving increased gas supply flexibility and security for the Delfin FLNG Vessels.
Avocet LNG’s MARAD permitting process will be significantly cheaper and more efficient as the company can leverage the Delfin LNG’s successful permitting work.
The GrandChenier pipeline system connects to major interstate pipelines providing access to abundant pipeline-quality natural gas.
DELFIN AND TGLO MANAGEMENT:
Dudley Poston
Chief Executive Officer
-EVP at Golar LNG from 2010-2018, focusing on the commercial development of Floating Storage and Regasification Units, Floating Liquefication, and small-scale LNG
-Prior to joining Golar, 16 years of experience in the U.S. natural gas industry as a financial and physical trader for Koch Industries, The Williams Companies, and Citigroup
-B.A. in Government from the University of Texas, M.A. in Economics from The State University of New York, and M.S. in Finance from Texas A&M University
Wouter Pastoor
Chief Operating Officer
-Head of Commercial and Director of FLNG Development at Golar from 2014-2018, focusing on the Hilli, Fortuna and Tortue projects and leading new FLNG design & business developments
-Prior to joining Golar, 13 years of experience in the LNG industry, primarily focused on technical and commercial development of Floating LNG projects
-Ph.D. and M.Sc. in Naval Architecture and Ship Hydromechanics from the Delft University of Technololgy in the Netherlands
Oscar Spieler
Executive Chairman of the Board
-Previous CEO at Golar LNG, Frontline and Sea Production and Chairman of Quantafuel
-Board experience from multiple companies within the shipping, drilling and finance sectors, including Offshore Merchant Partners, Energy Drilling Ltd, Jasper Investments, Archer, Avenir LNG, North Atlantic Drilling and Sealift
-M.Sc in Naval Architecture and Engineering from the Norwegian University of Science and Technology
TGLO (theglobe.com) Management
Frederick P. Jones
President, Chief Executive Officer, CFO & Director, theglobe.com, Inc.
Frederick P. Jones founded Fairwood Peninsula Energy Corp. and Delfin Midstream LLC. In his past career, he held the position of Chief Executive Officer of Fairwood Peninsula Energy Corp. and Chief Executive Officer at Delfin Midstream LLC. Mr. Jones was a founder-shareholder of March Rich and Co. AG, now Glencore plc. He is also a former Advisor to the President of OPEC. Mr. Jones was one of the early investors in U.S. shale gas. Together with his partners he developed assets in the Barnett shale starting in the mid-1990s.
Throughout his 40 years of experience in the energy industry, Mr. Jones has developed projects and businesses in LPG marketing, coal bed methane extraction, hydroelectric power, and natural gas. He has led numerous ventures with various public and private entities throughout the world.
SHARE STRUCTURE, FILINGS, LINKS, ETC.
TGLO Share Structure (as of last filing, May 14, 2024)
Common Stock
Authorized Shares: 500,000,000
Issued: 441,480,473
Preferred Stock
Authorized Shares: 3,000,000
Issued: 0
Delfin Midstream Ownership Structure (as of June 12, 2018 - 95.43% reported)
Ownership Reference Document:
https://fossil.energy.gov/ng_regulation/sites/default/files/programs/Delfin_CIC_07_11_18.pdf
Fairwood Peninsula: 30.7%
Talisman (Global Alternative Master 25.5% and Global Capital Master 20.1%; Indirect ownership through Fairwood shares 8.17% ): 53.77%
Frederick Jones (9.3% Delfin Midstream and 1.66% indirect ownership through Fairwood shares): 10.96%
Filings
https://www.otcmarkets.com/stock/TGLO/disclosure
Significant Headlines:
2.13.24 https://lngprime.com/americas/chesapeake-seals-lng-deal-with-delfin-and-gunvor/104761/
"US shale gas producer Chesapeake Energy has entered into an offtake deal with Delfin Midstream, the US developer of a floating LNG export project in the Gulf of Mexico, to supply LNG to Geneva-based trader Gunvor. Chesapeake said in a statement on Tuesday that the LNG export deal includes executed sales and purchase agreements for long-term liquefaction offtake. Under the SPA, Chesapeake will buy about 0.5 million tonnes per annum (mtpa) of LNG from Delfin at a Henry Hub price with a targeted start date in 2028... Delfin said in November it had secured commercial agreements for LNG sales and liquefaction services and the firm was “in the final phase towards FID on its first three FLNG vessels”.
11.27.23 https://www.reuters.com/business/energy/delfin-signs-15-year-lng-supply-agreement-with-gunvor-2023-11-27/
Nov 27- Delfin Midstream Inc said on Monday it had entered into a long-term liquefied natural gas (LNG) supply agreement with global commodity trader Gunvor.....The company secured commercial agreements for LNG sales, liquefaction services and is in the final phase towards final investment decisions (FID) on its first three floating LNG vessels, the release added.
8.26.23 https://maritime-executive.com/corporate/delfin-accelerates-the-development-of-flng-vessels-with-wilson-offshore
Delfin Midstream announced today that it has entered into a design and engineering contract with Wison Offshore & Marine to develop Floating LNG (FLNG) vessels for application on the Company’s Deepwater Port projects currently under construction in North America... Commenting on the announcement Wouter Pastoor, COO of Delfin says: “Wison has been visionary to develop its design, engineering, and construction capabilities for the LNG industry and in particular the floating LNG segment. Sharing our commitment and entrepreneurial spirit, Wison’s goal is to continue into a full FEED later this year such that FLNG vessel construction can start at their shipyard in mid 2024.”
07.11.23 https://www.centrica.com/media-centre/news/2023/centrica-signs-major-lng-supply-agreement/
"Centrica and Delfin Midstream Inc. today announced the signature of a long-term Sale and Purchase Agreement for 1.0 million tonnes per annum (MTPA) of Liquefied Natural Gas (“LNG”) for 15-years on a Free on Board (“FOB”) basis at the Delfin Deepwater Port, located 40 nautical miles off the coast of Louisiana. This agreement will see Centrica take delivery of around 14 LNG cargoes per year and could provide enough energy to heat 5% of UK homes for 15 years."
6.08.23: https://www.globenewswire.com/news-release/2023/06/08/2685156/0/en/Delfin-Enters-Strategic-Investment-Agreement-with-Mitsui-O-S-K-Lines.html
"We are delighted to announce our partnership with Delfin, marking the beginning of a fruitful endeavor together. Drawing on our extensive expertise gained from previous LNG Carrier and FSRU projects and other ventures, we anticipate collaborating with Delfin to successfully drive forward this project toward our initial shared goal of quickly making Final Investment Decision on the first FLNG vessel."
3.27.23: https://lngprime.com/lng-terminals/delfin-plans-to-take-fid-on-first-floating-lng-producer-in-q2/77184/
“With fully termed agreements signed and others under negotiation, Delfin is well on its way to FLNG 1 FID and has laid the foundation for FLNG 2 FID,” the firm said in the presentation. Delfin plans to FID on the first vessel by the end of Q2 2023.
9.30.22: https://pemedianetwork.com/petroleum-economist/articles/gas-lng/2022/delfin-eyes-emerging-us-export-strategy/
9.12.22: https://oilprice.com/Energy/Natural-Gas/This-Large-US-Driller-Just-Made-A-Big-Move-Into-LNG.html
1.19.22: https://jpt.spe.org/delfin-lng-expects-investment-decision-on-floating-lng-project-this-year
10.15.20: https://www.rivieramm.com/news-content-hub/news-content-hub/first-us-floating-lng-export-facility-clears-engineering-feat-61305
6.1.17: https://www.energy.gov/articles/us-department-energy-authorizes-additional-liquefied-natural-gas-exports-offshore-project
https://delfinmidstream.com/wp-content/uploads/2024/06/Delfin-Midstream-Corporate-Presentation-June-2024.pdf
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