TheGlobe.com Inc (TGLO)

[Chenteddybear]

Golar LNG and Delfin Midstream Inc to form a joint venture company to own and develop Delfin LNG, which will be reverse merger into TGLO.


According to the filing for a change in control in the Delfin LNG project on July 10, 2018
https://fossil.energy.gov/ng_regulation/sites/default/files/programs/Delfin_CIC_07_11_18.pdf


This is the ownership structure of Delfin Midstream Inc which owns 100% of Delfin LNG and the shell company TGLO.

Fairwood Peninsula 30.7%
Talisman Global Alternative Master 25.5%
Talisman Global Capital Master 20.1%
Frederick Jones 9.3%
Others 14.4% (could be Golar as well....)

Since Delfin does not post any NEWS to the public, you can connect the dots through their communications with the U.S. Department of Energy.

Must read: https://www.energy.gov/sites/prod/files/2018/10/f56/Delfin_13-129_147oct%202018.pdf


Recent changes in leadership and sponsorship put the Delfin project on a clear path to FID and see the project take on an increased level of activity for Golar. When connected to Delfin's existing pipeline infrastructure, the Mark II FLNG solution is expected to deliver the lowest cost liquefaction solution in North America giving Delfin and Golar an early mover advantage marketing a relatively small parcel of LNG into a demand driven market. Further to the Joint Development Agreement signed in June 2017, Golar and Delfin are now working to finalize terms for the establishment of a joint venture company to own and develop the first floating liquefaction vessel.
https://globenewswire.com/news-release/2018/11/05/1645119/0/en/Interim-results-for-the-period-ended-30-September-2018.html


Finally, the change of ownership and management at Delfin FLNG project provides sources for enthusiasm about this project in the future as it is already starting to turn its performance around.
https://seekingalpha.com/article/4227356-golar-lng-great-quarter-macro-concerns-keep-us-hold?page=3