LNG Co Tellurian Merges With, Takes Over Magellan Petroleum

As we pointed out to you last December, evil corporate raider Carl Icahn (invests in companies so he can fire a bunch of people, boost the stock and pocket the profit) had fired Cheniere Energy CEO Charif Souki (see Evil Corporate Raider Carl Icahn Claims Another CEO Scalp). Souki hasn’t let it slow him down. He started a new LNG export company, Tellurian, to compete with his old company (see Revenge: Fired Cheniere CEO Starts Competing LNG Company). We kind of had (past tense) a soft spot for Souki, getting tossed from the company he started. But then we read comments he made about Donald Trump, saying if Trump won, he would reconsider his American citizenship (see Will Charif Souki Renounce His American Citizenship?). We’re still waiting for Souki to move back to Egypt. Since forming Tellurian, he’s moved fast to finance the company and its coming Driftwood LNG export facility, essentially by selling off large chunks of it, $25 million from GE Oil & Gas (see GE Oil & Gas Invests $25 Million in LNG Co Tellurian), and $207 million from Total (see French Supermajor Total Buys 23% Stake in Tellurian LNG). Until now, Tellurian has been a private company, no publicly traded shares of stock. That changed last Friday when Tellurian merged with/took over Magellan Petroleum Corporation and began trading stock in the newly merged company on the NASDAQ stock exchange…

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