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NEWS!!! From 22 mins ago! Delfin Signs LNG Sale and Purchase Agreement with Hartree
https://finance.yahoo.com/news/delfin-signs-lng-sale-purchase-103000531.html
20-year binding SPA for LNG Supply from Delfin Deepwater Port LNG Export Facility Advances Project Closer to Final Investment Decision
First FLNG Vessel is Fully Committed and Marketing of Second FLNG Vessel Underway
Citi Appointed as Financial Advisor with FID expected in Mid-2023
And forgave $1MM in loans due payable to Dancing Bear! Must have been a very nice gentlemen’s agreement as to why Egan would forgive that debt and sell an OTC perfectly clean/reporting shell for $25k. Hmmm. Now did Egan know what future world events would occur (I.e trade war, pandemic etc)..,, soon my friend !
As we all have been saying for a while now. (see article from this morning) about rising costs etc. Delfin has the perfect vehicle to go public and raise capital... TGLO!!! Let's go Delfin, 5+ years is long enough to make your FID and get the show on the road.
https://www.ft.com/content/e7f3681f-3f0a-40de-ab65-65f62c7d6acb
Lots of new information (as expected) surrounding the debt/equity financing. Citibank is leading the group from a financial/banking side. Disappointed to see they are anticipating filing another extension request from FERC to have the pumping station operational. Doesn't really matter, as the project continues to make substantial progress and by the time they file with FERC will have already taken FID on the 1st ship. We know FERC will most certainly re-approve. Let's just hope these guys continue to move quickly and take FID and RM in Q2.
I'm sure JAB will be around with his knowledge and insight. Let's do Delfin!
https://www.energy.gov/sites/default/files/2023-04/Delfin%203_31_2023%20DOE%20Progress%20Report%20%28final%29.pdf
Wonderful JAB, thanks as always for obtaining info! Let’s see what this new report has to offer….
Good point Senor. I would concur, we already know of a done of facts and things going on behind the scenes. Each day that passes is a day we are getting that much closer to the Super 8k.
The usually file everything as planned/scheduled and for this to be late, there must be a reason. The last few semi-annual reports had a lot more detailed information and updates then the ones from years back. I would hope this April 2023 report has some blockbuster info...
That was my point. This report is later then ever, but all good my friend! We are on the cusp of something huge.... Let's go Delfin, get er' done.
.10 spread! Can you say no shares available and the float is locked! This new SEC quote rule etc, truly shows how thin this stock is.
Drop FID & RM news and we go $$$$"s instantly!
Been watching daily Energy.gov for Delfin's Semi-Annual Report. Looking back the past 8+ years in April, this appears to be the latest filing date so far....hmm. Perhaps there are some very important nuggets of information in this pending report.?
https://www.energy.gov/fecm/articles/semi-annual-reports-delfin-lng-dkt-no-13-129-lng-fta-order-3393-and-fe-dkt-13-147-lng
We are soooo close. Let's go Delfin, no need to wait until the end of Q2 to take FID/RM.
Bite your tongue JAB! I certainly don't want the stock price going down at all, especially < .10!
I know you are plenty others would "load the boat" at those prices.
We have been all the over price in regards to stock prices for years now, and I personally hope, from here on out our stock price only increases. Delfin needs the price much much higher, prior to them announcing FID/RM so that we would trade in multiples of dollars right away. Very easy to do with this float and new trading rules. We just need news, which is coming very very soon!!
In regards to Q2 vs Q3, with these lads anything is possible unfortunately. Let's hope they have learned their lessons over the years for dragging their feet, and are ready to take FID this quarter. Clearly everything is lining up for that. As we have discussed, given they have had ample time to get their crap together, once news starts flowing and FID/RM are taken, I think everything falls into place very quickly.
Delfin linkedin page updated 4 hrs ago, with the tradewinds story. Interesting as they usually only post to their page "official" press releases and not interviewed news stories? They appear to be getting the word out, and let's hope they don't need to wait until the end of Q2 to take FID! We're closer then we have ever been, and yes, even after 5+ years!
Thanks to Rhodan for posting the full article (see below), as the link requires a subscription.
https://www.linkedin.com/company/delfin-midstream/
https://www.tradewindsnews.com/gas/delfin-midstream-poised-to-give-go-ahead-to-first-flng-unit-for-us-gulf/2-1-1428297
Would-be US offshore LNG producer Delfin Midstream is closing in on a final investment decision (FID) for its first floating LNG (FLNG) production unit — and is making progress on a second.
Golar LNG bags 2025-delivery yard slot for next-up FLNG conversion job
Read more
Speaking to TradeWinds in Oslo, Delfin chief operating officer Wouter Pastoor said South Korean shipbuilder Samsung Heavy Industries is working on full pricing proposals that are due to be delivered in May for its first 3.5-million-tonnes-per-annum-capacity FLNG unit.
In tandem, Delfin is negotiating the engineering procurement and construction contract with engineers Black & Veatch, working on financing and finalising the main commercial agreements.
Delfin has already lined up offtakers for this first unit, with trader Vitol buying 500,000 tonnes per annum, UK energy company Centrica pencilled in for one million tonnes per annum and the US’ Devon Energy Corp a further one mtpa, while also targeting investment opportunities in the floater.
Pastoor said Delfin has made “very good progress” on selling additional offtake since announcing these deals in the third quarter of 2022.
He added that the company is in “active negotiations” on additional sales from its first FLNG unit, as well as from its second planned floater — and expects to make further announcements shortly.
Pastoor said Delfin is working towards taking a FID at the end of the second quarter of this year on this first FLNG unit for the company’s 13-mtpa anchor project Delfin LNG, located 40 nautical miles off the coast of Louisiana in the US Gulf.
The fully permitted initiative — dubbed Delfin Deepwater Port — will use pipeline gas to supply four FLNG units, which will weathervane around single-point mooring systems.
Pastoor said being located offshore means there is no one-way traffic and congestion for shipping, which can dog onshore facilities and Delfin’s floaters will be less affected by fog.
Delfin refers to its FLNG units as “liquefiers” to differentiate them from LNG floaters, which are directly hooked up to gas reservoirs.
Pastoor said its units will use more standardised onboard technology, minimising technical and operational complexities along with the overall risk profile of the project, which he claims helps when locking in financing.
Delfin Midstream chief operating officer Wooter Pastoor is a naval architect, and was previously head of commercial and director of FLNG development at Golar LNG. Photo: Delfin Midstream
“We are plugged into the most liquid natural gas pool in the world,” Pastoor said.
“Financing an infrastructure project like this in the US is more favourable than financing an upstream project.”
Under Delfin’s model, each FLNG unit would be an individual company with commercial contracts and finance. FIDs would be taken separately on each floater.
Pastoor said this gives the company a great deal of flexibility on how to handle the financing, structure and the way the company sells the LNG from the unit.
“The market is good and there is a lot of interest from a subset of investors who firmly believe in a long-term strong LNG market,” Pastoor said. “They seek commodity exposure. They believe in the upside of the market.”
New Fortress Energy targeting first FLNG production in July
Read more
Aside from its anchor project, Delfin has identified other sites for its liquefiers, which it said provides the company with more than 40 mtpa of liquefaction opportunities. But it sold out of the three-mtpa Cedar LNG in Kitimat, Canada, in which it was a partner with the Haisla Nation, although it still has an economic interest in the project.
Pastoor said the investor interest in LNG changed after Russia invaded Ukraine last year.
“We experienced specific interest because the cheque size is less,” he said, explaining that compared with an onshore project that may want to take a FID on a 15-mtpa project, Delfin can do this after securing just 2.5 mtpa in offtake agreements.
“That is of interest to investors,” he said. “There are fewer partners around the table. There are less offtakers, lenders and parties that we need to bring for the equity. It is much more easy to structure a deal.”
Gabon FLNG project plans to deploy FSU and multi-purpose vessel conversion
Read more
Privately-owned Delfin has now built up its team to between 40 and 50 people, including advisors, and Pastoor said the company is in “expansion mode”. Technical activities are run out of Oslo and the outfit is expected to grow by between 12 and 15 staff by the middle of the year, with commercial offices in London and the US.
Pastoor said Delfin has had interest from companies that want to take stakes in the FLNG units.
“We have had very good discussions with a number of infrastructure parties,” he said.
“We are talking to a number of strategics who want to participate in Delfin Midstream. We see strong interest from producers in the US who seek opportunities to develop their gas assets and seeking exposure to international gas markets.”
Agreed Senor. We know Delfin has to "greenlight" the project sooner then later. As we all know, it's going to happen and I concur, the time is now!
Market & financial conditions have further squeezed them, and going public is their only real/easy way now to raise capital and fund/support their project.
Delfin (in Oslo) is looking for 3 new employees (job postings just listed yesterday).
https://www.linkedin.com/company/delfin-midstream/jobs/
They must be getting ready for Q2 FID and reverse merger!
In case that link doesn't work, at the bottom of their Linkedin home page it shows as well:
https://www.linkedin.com/company/delfin-midstream/
We should find someone to fill the position and become a "mole" for us.....
Agreed JAB. Something is going on.... according to Poten we might have a good idea as to what. TIme will tell, but good things forthcoming!
Interesting. I get the following message:
If true, wonder what they are updating? Perhaps adding an "investors page" amongst other things...
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Let's go Freddie and team! Nice LNG article below... The time is now!
https://oilprice.com/Energy/Natural-Gas/EU-Energy-Crisis-May-Lead-To-100-Billion-In-New-US-LNG-Projects.html
Well said JAB. Funny, we should be hearing news of the new SPA today (as it's month end).... then again, probably not. But we can only hope. As each day passes, Delfin's hands are getting more and more forced to move and act. Time isn't on their side, and they need to once and for all finally get the ball rollin'!
Yet more headwinds for Tellurian (link below), and they are still trading > $1.50? Then we have TGLO, with Delfin ownership and pending r/m, trading at .15-.20? Makes no sense to me, knowing what we have known for 5+ years and what's about to come. If we can just get these boys to just follow through with ANYTHING they say they will do, or just say something, we too could be trading at > $1.50. Delfin has soooo much more potential then T@LL, always has and always will!
https://finance.yahoo.com/news/tellurian-faces-setback-lng-project-090000835.html
:) Devon is performing very well. Let's hope the Q & A session might yield some analyst questions on Delfin?? Also, I look forward to when Delfin is holding Quarterly earnings calls.
Right. I quickly read NGI articles, but it seems they just took the highlights from Poten's article/info. No additional "nuggets" of information in theirs? I could be wrong and will have to read again. Regardless, it's great all the recent attention LNG and specifically Delfin is getting. We are certainly closer to FID & R/M then we have ever been!
JAB - NGI article from today. Is this your guy?
Investment Boom Nears as U.S. LNG Projects Race Toward FID
BY JAMISON COCKLIN
https://www.naturalgasintel.com/investment-boom-nears-as-u-s-lng-projects-race-toward-fid/
Thanks Jab! Yes, very easy registration and I'm registered and excited to hear what Poten has to say.... I agree with you, they must be in the know and have some inside connections to the executives @ Delfin. They have provided more "concrete" information then any other news outlet in the last 5 years..... News before the event would be fantastic!
Poten & Partners is hosting a virtual webinar on February 22nd (see link below):New Contracts Bring US LNG Projects to the Brink of FID | February 22 Webinar
Same here! Many emails sent over many years...never a reply! These guys just don't talk, which is fine, I mean what can they really tell us. But just saying anything would go a long way.
Someone should reach out to their communications guy: I did twice, over the past few weeks, and what do you know..... Dan too doesn't seem to be able to communicate. He's perfect to work with Delfin. A company that doesn't acknowledge an email or call, and a communication guy in the same category! Nice...
Dan Gagnier – Founder and Managing Partner
https://gagnierfc.com/
Phone: +1 646 342 8087
Email: info@gagnierfc.com
Perhaps someone will have better luck than me?
JAB - Who is Delfin Midstream! Led by a group of well-renowned industry experts, yet NO ONE knows how to speak. FID & RM imminent after a very long 5 year wait.
Well said Senor! If I recall, their original filing from December 2017, came out ridiculously late @ night. Then other releases are very early in the am.... I'll be awake, no matter what time of the day, to watch the Super 8k filing drop!!
What a damming article on Tellurian (T@LL). Read below: Calling Tell a "pipe dream", which we all knew it was from years and years ago!! Their pricing model is such a ripoff, and when you compare ANY LNG project to Delfin, well.... there is NO comparison! Delfin is light years ahead of everyone else (as their project is Brownfield ready) and was ready years ago. Delfin's time is now and my god, I would love a little "black Friday" holiday love from Mr. Jones and the team. Certainly they ain't going to drop news on a short trading day, but again, ya' never know... Regardless, we are weeks away (at the most) from FID on two ships and a reverse merger.....
Love the summary of Seekingalpha's article below:
Also, look at the dilution expectation from Souki & T@LL. They are preparing for a dilution rate of 4x!!! T@LL has already been diluted to heck, and still can't raise the $13B needed to build their project... Just insane. TGLO has ALL their preferred shares ready if needed to raise capital, plus Delfin can easily convert some of their 71% ownership stake to equity as raise. Factor in the fact TGLO should easily hit multiple $$'s prior to FID or shortly thereafter, Delfin won't need to raise much capital.
Thank you, and yes, a very happy and healthy Thanksgiving to all. DLFN in the upcoming few weeks.
Not surprising, how smart Fred Jones and the entire Delfin team is. While they have had to drag their feet for years (due to world/economic events) they certainly knew what they were doing since inception. Per FERC's re-approval from last week, they even admitted that when Delfin had originally asked for a 3 1/2 year extension, that they were right and that would have been a more appropriate timeline.
Well... fast forward 5+ years and our time has come! FID right around the corner on 2 ships! Plus R/M and Super 8k filings to be dropped upon us... The recent stock price manipulation is pathetic and the MM's continue to short the stock and try to scare shares from the weak. Good luck with that!!!
When news drops this stock will absolutely go Parabolic!!! No float, all shares tightly held and wound tight... Going to get exciting real soon. I also like the recent uptick in followers on Delfin's linkedin page. Not that those numbers necessarily matter, but Delfin always publishes its news releases on it's website and Linkedin page. It's almost like people in the know understand what's coming and starting to follow more closely waiting for the news to drop.
It's coming JAB! And as if we needed any more reassurances... nice article from yesterday on FLNG.
https://oilprice.com/Energy/Natural-Gas/Floating-LNG-Projects-Boom-As-Europe-Races-To-Stock-Up-On-Gas.html
Well JAB, you appear to be 100% correct. Another weak attempt by the MM's to shake out the weak and grab some cheapies. We know what we own, and now that FERC has re-approved their CUP, we will see plenty of news and RM filings in the immediate future. I'll continue to watch, regardless of how far down the MM's try to shake the tree... Long and strong baby! We should be trading in $$'s within the upcoming few weeks.
Agreed! I think news will start flowing very quickly now. As we all eluded to, no way in hell, Devon, Centrica and Vitol would have signed contracts & HOA's w/Delfin, if any of them felt there would have been any regulatory hurldes.
We are all clear now..... news to come, FID, R/M and TGLO becoming DLFN. Of course all this along with our stock price finally reflecting multiple dollars!!! $$$$
It's coming...... I bet Delfin, it's partners and attorneys have everything already lined up to roll. They will need to move quickly and I would think are ready to rock n' roll!
FERC has APPROVED Delfin's CUP renewal. Let the fun begin. I suspect we will see new contracts, HOA's converted to contracts and R/M details very shortly.
The time is now, and many of us have waited for what feels like an eternity!
JAB, You and X are definitely correct. Delfin is up next, and more then likely this will be a daily notational and not needed to be on the Sunshine schedule.
Both are extension approvals were granted by FERC because the companies showed "good cause". Clearly Delfin too has shown good cause, signed recent contracts, HOA's and is ready to take FID. Let's hope Delfin's daily notational is received any day now. Then they will proceed, announce new contracts, take FID and R/M and go public!!! I smell multiple dollars forthcoming.
30k shares traded and the MM shorters (ASCM/VERT) are back! I can't wait for news and when we trade 5MM+ shares in one day and this MOASS pushes us to $$'s+.
Good point, and I know my numbers were a bit off :) If we dropped to .10 on more shorting, I think the 3%-5% float would be flipped and gobbled up in 5 minutes!
It will and it's going to happen. I personally don't think Delfin will need until year end to take FID and R/M. If it took that long, then so be it. If the MM's drive our share price down to .10, that would suck, but I'm ok with that as well. I'm not going to be on the "outside looking in" and being left in the dust. TGLO and Delfin is like hitting the powerball and a once in a lifetime event (Reverse Merger). Besides, I like our legal counsel representing us... We're in good hands :)
https://www.lw.com/en/people/joel-patrick-nevins
Love the experience he has w/FERC:
Mr. Nevins’ experience includes representing:
A major interstate gas pipeline and one of the country's largest gas storage operators as principal outside FERC counsel for more than 15 years
An existing LNG import terminal with expansion of their regas operations and the development of its US$4 billion liquefaction and export project
Several greenfield LNG export projects, including the only proposed FLNG deep-water port project
The largest owner of a joint venture in the project development of a US$7 billion, approximately 600-mile, 1.5 Bcf/day natural gas pipeline
A midstream company providing gathering, processing, and fractionation services for new shale production, and related NGL transportation
Various sponsors of, and lenders to, LNG, and oil and gas pipeline projects in financing and M&A transactions
Trans Alaska Pipeline System owner, and of all the TAPS owners as lead discovery counsel in rate litigation before FERC and RCA*
Several natural gas storage facilities successfully securing FERC certification, with authorization to charge market-based rates*
*Matter handled prior to joining Latham