Market Overview

Tellurian Reports Second Quarter 2018 Results

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Tellurian Inc. (Tellurian) (NASDAQ:TELL) continued to build its global
natural gas business during the second quarter of 2018. Notable
Tellurian achievements:

  • Generated approximately $115.2 million in proceeds from a public
    offering of common stock.
  • Received a Coastal Use Permit from the Louisiana Department of Natural
    Resources and Air Permits from the Louisiana Department of
    Environmental Quality for the Driftwood Project.
  • Closed two open seasons on proposed pipelines – the Permian Global
    Access Pipeline and the Haynesville Global Access Pipeline – receiving
    non-binding indications of interest for both projects in excess of
    available capacity.
  • Advanced the sale of LNG and Driftwood Holdings' partnership
    interests, with approximately 25 customer/partners conducting due
    diligence.

President and CEO Meg Gentle said, "All the pieces of the integrated
project are coming together as planned, and we remain on schedule to
announce our partners in the third or fourth quarter, begin construction
of Driftwood LNG in first half 2019, and deliver LNG to the global
market in 2023."

 
Estimated Driftwood project timeline
Catalyst       Estimated timeline
Final Environmental Impact Statement       12 October 2018
FERC order and Federal Authorization Decision Deadline       10 January 2019
Driftwood final investment decision       1H 2019
Begin construction       1H 2019
Begin operations       2023
 

Financial results

Tellurian ended its second quarter of 2018 with approximately $196.8
million of cash and cash equivalents and no debt. We have a strong
balance sheet consisting of approximately $373.5 million in assets, of
which approximately $90.3 million represents our proved natural gas
properties.

Tellurian reported a net loss of approximately $35.9 million, or $0.17
per share (basic and diluted), for the three months ended June 30, 2018.

About Tellurian Inc.

Tellurian was founded by Charif Souki and Martin Houston and is led by
President and CEO Meg Gentle. Tellurian intends to create value for
shareholders by building a low-cost, global natural gas business,
profitably delivering natural gas to customers worldwide. Tellurian is
developing a portfolio of natural gas production, LNG trading, and
infrastructure that includes an ~ 27.6 mtpa LNG export facility and an
associated pipeline. Tellurian is based in Houston, Texas, and its
common stock is listed on the Nasdaq Capital Market under the symbol
"TELL".

For more information, please visit www.tellurianinc.com.

Follow us on Twitter at twitter.com/TellurianLNG

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the
meaning of U.S. federal securities laws. The words "anticipate,"
"assume," "believe," "budget," "estimate," "expect," "forecast,"
"initial," "intend," "may," "plan," "potential," "project," "proposed,"
"should," "timeline," "will," "would," and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements herein relate to, among other things, the capacity, timing,
and other aspects of Tellurian's projects and business and potential
related financing transactions. These statements involve a number of
known and unknown risks, which may cause actual results to differ
materially from expectations expressed or implied in the forward-looking
statements. These risks include the matters discussed in Item 1A of Part
I of the Annual Report on Form 10-K for the fiscal year ended December
31, 2017 filed by Tellurian with the Securities and Exchange Commission
(the "SEC") on March 15, 2018, and other filings with the SEC, all of
which are incorporated by reference herein. The forward-looking
statements in this press release speak as of the date of this release.
Although Tellurian may from time to time voluntarily update its prior
forward-looking statements, it disclaims any commitment to do so except
as required by securities laws.

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