GulfSlope Energy Inc (GSPE)

[bossi]

well never mind about buying.....not allowed to by my broker in Canada..i can only sell........................for now

[Tbags7]

Love it! Thanks Bossi!

[Bowsaw]

Thanks for your efforts over the years, Bossi.

bossi Re: smith199 post# 4055 Monday, October 26, 2020 4:29:30 PM Post# 4056 of 7833 Good day everyone......John Malanga just informed me there will be an operational update this week or next. I am a long suffering 7 year shareholder sine the Gecko Research days..

bossi Re: smith199 post# 6509 Thursday, May 05, 2022 3:24:17 PM Post# 6510 of 7833 - I just now heard from Mr . Malanga.......He said due to challenging markets given the lack of Capital available due to the war on fossil fuels things take more time in a sense. He said the team is working to make something happen.......I believe him

bossi Re: None Monday, February 21, 2022 1:58:17 PM Post# 6176 of 7833 Upate from GSPE today thru an email I got from John M. a few moments ago...He said the Team is still intact, they have a two-pronged strategy of drilling wells and acquiring properies in GOM and finally said he can be more specific of their plans in the next 2 weeks!!

bossi Re: None Thursday, April 25, 2024 4:58:13 PM Post# 7832 of 7833 just heard from John Malanga one hour ago...he said " John-team is still in place and we're are actively looking for ways to advance business plan. Biden administration has made it very difficult for oil and gas companies"........so I say there good hope left

[bossi]

i may try to buy a bit more....

[bossi]

just heard from John Malanga one hour ago...he said " John-team is still in place and we're are actively looking for ways to advance business plan. Biden administration has made it very difficult for oil and gas companies"........so I say there good hope left

[smith199]

I’m just gonna fish a bit while I wait

That does sound like the best approach. Just remember to hold your breath. I would not want you to get an inadvertent shot of ether. Although it could lead to an interesting post. On second thought….




Mrs. Smith

[spec machine]

Yep, oil is still king in many different modes of our energy and petrochemical needs

Modern civilization (within our current engineering capabilities) is dependent on fossil fuels

And patience with the current draconian policies is wearing thin

Eyes are opening and a renewal on many facets of life will turn us the right way forward

That said, we’re still in for a couple more months of the clown show tragedy

As you noted, the key parts are still in place

Just needs a little shot of ether and crank it up

I’m just gonna fish a bit while I wait

Cheers

spec

[smith199]

What energy sources do you rely on in your life?

I see no popular support for a decline in our collective quality of life in the USA (or globally).

We all still need to heat and cool our homes. We require fuel for transportation in commercial, private business, and recreational travel. We need homes, jobs, food, medicines, manufacturing, clothing, etc.

Insights from Exxon’s Outlook through 2050:

“The world’s future energy needs will be determined by the number of people there are and the level of economic growth they enjoy. On both counts, the numbers are staggering. 2 billon more people and a global economy 2X the size.

“To support a growing population with rising living standards, we project the world will need to produce 15% more energy in 2050 than it does today.

“Even with an unprecedented rise in lower-emission options, oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050.

So despite the political aspirations of some, oil is not going away anytime soon, and energy demand will require that exploration and production become a higher priority just to maintain the standard of living we currently desire and enjoy.

Absent any startling new technological developments in energy production, one should expect to see no substantive evolutionary changes unless it is clear that the majority of voters prefer a decline in their quality of life and will tolerate a third-world lifestyle for themselves and their families.

Those that wish to stifle and punish oil companies need to ‘pull their heads out’ before it becomes too late to avoid the unintended consequences to our society that will result from the incompetency of this approach.

So I support the prediction of the Exxon forecast that oil and gas investments will not only continue, but will increase over time.

These GSPE “Expert Market” travails may just be a hint that I should be prepared to update my alias to ‘No Oil Gal 199’….

And as well as the active phone lines, the company is maintaining their website, complete with recent changes.

The flagrant truth is, Biden has his foot on the neck of GOM exploration, and it is not going to change until he is out of office. Expectations for future good news may come as a result from a new political outcome in November.

So at most, about six months to go the way I see it. Until then, I will continue to hold my @$k and be a moderator for this board.

Remembering an old saying “Patience is a virtue that attracts happiness and brings near that which is far”….




Mrs Smith

[Tbags7]

Not great… not great at all

[NorOilGuy1]

That’s exactly why I called their number to see if the number was still active.

[Tbags7]

Am I reading the tape from Friday accurately?! Was there actually a trade at .0001? Woof. (Insert sad emoji)

[Tbags7]

Will take the good news!
Thanks @noroilguy1!

[NorOilGuy1]

Well, Gulfslope still has an active phone number.

[spec machine]

You are correct

My info was correct before 15c2-11 was passed in 2020

And, although there are still some exceptions listed in 15c2-11 ..

GulfSlope is not in any of those particular circumstances

So, frozen until something hits the iceberg or it melts in the warming markets

On a serious note

There is still the same capital structure and share count

Could they issue/sell the equivalent of 3X the current OS to raise cash then RS to get it to $1, relist, and launch?

(In this scenario, the current shareholders would represent a quarter of the market cap)

I think it is at least a possibility

I dream big

Well, if anyone come across anything relevant, post away ..

spec

[smith199]

I greatly appreciate these clarifying insights from both spec and Werbe.

I also share the belief that the company and the stock price could rebound. After all, even though there are no visible flames, the smoke around Gulfslope Energy is visible and hard to miss.

It appears that the biggest issues holding the company back after Tau1 have been the effects that Covid had on the world economies and markets, followed by the huge effect of the Biden administration’s enormously unfortunate energy policies and outlook.

Those of us that remain shareholders are all about to become ‘expert’ watchers, keeping an eye out for certain future developments.

After reading the Delek Group financials released on March 29th, it is evident that Gulfslope’s partner is still holding on to their 23% ownership of the company and continues to maintain a 75% ownership interest in the Tau prospect as well.

These audited financial reports are heavily scrutinized before being released, so I am curious as to why Gulfslope Energy is still being mentioned in the partner’s financials to it’s shareholders, despite being written off for tax reasons in 2019, and Gulfslope itself being delinquent in their filings. This cannot be just a coincidence.

Also, if a billion $$$ company like the Tau partner has no intention of drilling in the GOM, then why does it continue to acknowledge and support the entity managing their GOM assets? And why continue to pay the costs related to these GOM investments?

There are forecasts that predict the price of crude will reach $100/bbl. So should shareholders be expecting internal discussions about another Tau drilling project anytime soon? Like after an election that changes administrations and outlooks on energy. These conversations are very likely to happen.

But itself being a BOEM approved GOM Operator from back in 2018, could the partner be considering drilling Tau on it’s own? Which will be OK for shareholders, because Gulfslope Energy still owns 25% of the Tau lease, and should benefit accordingly from any successful endeavor.

And does the partner have any designs on increasing ownership in the company? This action could result in a needed infusion of cash into the depleted company treasury. Can this activity alone get the company’s SEC filings current?

Coincidentally, it appears the Tau partner continues discussions with the BOEM since they are still listed on the weekly BOEM Chief Notes. This activity confirms the partner’s interest in the Tau.

And what is the value of all those NOLs anyway? Who can use them and when? My answer is that the best bang for Gulfslope’s bucks is for the $70 million in NOLs to stay with the company considering they would be allowable as a deduction against future taxable income.

All these are curious questions lacking satisfying answers. If the situations surrounding any of these questions evolves into impactful activity or actionable operations, how will it affect shareholder risk and the GSPE share price?

Unfortunately, the minutiae of the ‘big picture’ still remains obscured and fuzzy, so I do not have answers to these questions. But for now, I believe that Gulfslope Energy is favored to maintain the BOEM Operating Status for the Tau field.

Waiting to see….



Mrs. Smith

[spec machine]

My understanding is that the trade requires a special disclosure/disclaimer in order to be processed

In short, it’s saying that the broker advises against any purchases of this class of stock and that it has unknown liquidity due to it not being publicly listed

I am not certain on that but when I am able, I will inquire with my broker

The main reason that I haven’t checked on the details is because I don’t anticipate selling (and I have more than a few)

I’m in for the “Drill or Kill”

“Hero or Zero”

AKA “Ride or Die”

Fortunately, my total cost basis of my current position is less than my earlier gains on GSPE

Cheers

spec

[Werbe]

I've never heard of any person buying expert market that used a us broker, does not matter how rich you are because in the United States, we passed a law that puts all brokers on the hook for what they quote. If you weren't piggybacked in and lose your 152c11 status, no one would risk that liability for a simple trade.

[spec machine]

It should be available and allowed to be traded through a broker, but only “accredited investors” can place orders to purchase

Accredited/expert status requires meeting several requirements

$1M net worth, $500K “investment account” or something like that

There will be a higher trade commission or fee on each trade

And no L2 published quotes (as far as I know)

So, anyone can sell, just a different process (broker assisted trade), and buyers must be accredited

And no L2

Trading in the dark and you don’t know if there’s any buyers

spec

PS If anyone knows different, please chime in

[NorOilGuy1]

Thanks Werbe

[Werbe]

You can only sell after placed in expert market in the United States,no buying allowed. And usually it makes you place a trade with a broker, not through the platform. People say Canada can buy them but I do not see the volume in expert market tickers to back that statement up.

[NorOilGuy1]

Thanks for asking the question I’m confused myself. Can anyone here help. I did Google search it myself as well.

[Tbags7]

This is the first I’ve heard of Expert Market. After a quick google search it looks like trading will be dropped from the exchanges and only certain people can trade it? Does that mean we can’t trade it on a brokerage like Etrade anymore? Sorry for asking such basic questions but this is a whole new world to me.

[spec machine]

Yes, that’s what I’m thinking

Insiders holding and no massive dumps from anyone after the filing delinquencies

Any readers or sideliners, GSPE is a good one to have on watch for price action and volume

If it gets a drilling partner committed and has access to sufficient resources, and gets back to current filings/relisted, it’ll be a beautiful run

Lots to hope for but I am a determined optimist

Cheers

spec

[Werbe]

Last day of grace, GSPE I do not own any but you need to do your duty.

Good thing is expert market is not a dead end but just a limbo. You can build momentum while stuck in expert and when it's remedied, have a runaway train that wants to start its engines.

[spec machine]

No disclosure yet, so it looks like GSPE drops into the grey in the next 48 hrs or thereabouts

We shareholders enter the Expert Market

So …. I guess we’re experts at that point

Lots of turmoil in the crude market with the talking heads literally saying exactly opposite viewpoints

Iran gave Israel an expensive slap and now there’s a nervous pause with most parties expecting a significant retaliation by Israel

We’re at a point in geopolitics that wasn’t a surprise, it has been telegraphed for decades

But it’s uncharted territory in today’s technology

GLTA, and hang in there GSPE!

spec

[spec machine]

My prediction of a “commodity super-cycle of our lifetime” seems to have been a bit of an understatement

“Edge of nuclear abyss” wasn’t even on my list of “worst case scenarios”

I sure hope that the same Earth that is on the verge of colonizing Mars …..

… can be capable of averting its own demise

Somewhere in the middle is where we’ll likely end up but the “uncivilized behavior” is certainly spiking higher in many venues

Clearly unsustainable

Clearly a mess

Energy, food, and shelter, all are better than $ in situations like this, IMO

Clothing will always be optional

Keeping a smile in turbulence

spec

[Byurwherevergirl]

GSPE a playlist to begin your lovely weekend

are you super excited about spring and summer vibes w/friends, yuuge ditto too 🌺🌴👙🌴🌺

do you smell coconut

a hui hou

WG

[smith199]

To put the discussion into perspective, the USA uses 21 million bpd. So IF the SPR was completely full, we have a 35 day supply of crude. Except, as things now stand, the country has less than an 18 day supply. This a very precarious position to be in when coping with some circumstances. Joe should have thought about that. The country is counting on these administrations to be up to speed on this stuff….




Mrs. Smith

[smith199]

I do agree with your points about enhancements to the overall design of the Strategic Petroleum Reserve (SPR).

Considering that the SPR came into existence in the 1970’s after an oil boycott, I do support ‘modernizing‘ to better address issues the country faces today. A new administration should be the ones to address it now, and Make It Greater, lol.

As far as a definition for the SPR, I would prefer that it be crude oil stored in underground caverns and reserved for use due to disasters, economic considerations from oil boycotts, military fuels in time of war, and in response to other catastrophes.

I think the underground storage caverns should be filled to 100% of capacity and maintained at this level at all times. If necessary to release volumes, they must be refilled as soon as practical. Price should not be an impediment (Poor Joe. He may not understand the purpose of the SPR).

This STRATEGIC supply could be all that Americans have to rely on in times of catastrophe or emergency and must therefore be protected at all costs and at all times. How long should we expect to go without power (electricity) and fuel (vehicles)? The current authorized capacity of the SPR is 714 million barrels. But after Joe’s release, it is now filled to only 50 percent of it’s capacity.

And it may also be necessary to use it to provide fuel for military activity (ships, planes) to protect the population during time of war. In this instance having this supply available and ready for refining is critical and may make a difference to the outcome.

And recognizing the time (1-3 yrs) needed to plan the projects, manufacture the tubulars (made overseas), execute drilling, and transport the crude to refineries, to replenish 700 million barrels, makes me uneasy. How about you?

I will admit being upset over the position the country’s (D) leadership has placed us all in while pursuing their political CYA games.

These underachievers supported an inept and naive energy plan intended to force the country toward a goal that will give them more of a political advantage. Manipulative, Not Smart.

They deserve the costs and the price required.

I hope they are made to pay it in November.



Mrs. Smith

[smith199]

Seasonal demands look favorable for oil producers at this time.

‘Global Oil Demand In Summer Months of 2024’ - OPEC Featured Article, released April 11, 2024

https://momr.opec.org/pdf-download/res/pdf_delivery_momr.php?secToken2=accept

In 2024, global oil demand is expected to grow by a healthy 2.2 mb/d, y-o-y, led by robust demand from non-OECD regions, mainly China, Middle East and Other Asia. On a quarterly basis, global oil demand is expected to grow by around 2.0 mb/d, y-o-y, in 1Q24, 2.2 mb/d y-o-y in 2Q24, 2.7 mb/d y-o-y in 3Q24 and 2.1 mb/d y-o-y in 4Q24.

In the upcoming summer months, and focusing on transportation fuels, global demand for jet/kerosene is forecast to grow by 0.6 mb/d, y-o-y, in 2Q24 and by 0.8 mb/d, y-o-y, in 3Q24. At the same time, demand for gasoline and diesel is forecast to increase by 0.4 mb/d and 0.2mb/d, y-o-y, respectively, in 2Q24. In 3Q24, gasoline demand is forecast to improve further and expand by 0.8 mb/d, while diesel is projected to increase by 0.3 mb/d, y-o-y.

In OECD, the upcoming driving season in the US is expected to provide the usual additional demand for transportation fuels. Economic activity is also expected to pick up in 2H24, supported by a likely more accommodative monetary policy by the US Federal Reserve in 3Q24, as fears of inflation risks subside. Overall, OECD Americas is forecast to lead demand growth in the region with around 0.2 mb/d, y-o-y, in 2Q24 and same in 3Q24, while oil demand in OECD Europe and Asia Pacific is expected to also rise, albeit only slightly in both quarters.

In non-OECD countries, China is projected to drive oil demand, supported by strong mobility and industrial activity, growing by 0.5 mb/d, y-o-y, in 2Q24 and 0.7 mb/d, y-o-y, in 3Q24. Similarly, the Middle East is forecast to expand by 0.3 mb/d, y-o-y, in 2Q24 and 0.5 mb/d, y-o-y, in 3Q24. India’s oil demand is forecast to grow by 0.2 mb/d, y-o-y, in 2Q24 and 0.2 mb/d, y-o-y in 3Q24. Other Asia and Latin America are also expected to see healthy growth in the range of 0.2 mb/d–0.4 mb/d, y-o-y, on average in 2Q24 and same in 3Q24.

On the refining side, global crude intakes have declined since the start of the year despite a slight recovery in March. Intakes fell to 79.5mb/d in February, and in March they were still 2.4 mb/d lower compared with the peak level of 82.1 mb/d seen in December 2023 (Graph 2). Refinery runs declines were mostly in the US, China, Russia and Europe on the back of severe weather, seasonality and weakening refining margins. In March, however, refinery intakes improved slightly, with a gradual capacity return in the US and rising demand in select Asian countries.

In the US, gasoline markets on the Gulf Coast strengthened on tightening gasoline availability, elevated octane prices (a gasoline blending component), and a positive outlook for summer gasoline demand. In Europe, ongoing geopolitical tension could further intensify upward pressure on regional diesel markets. Meanwhile, Asia has so far remained well supplied amid strong refinery runs, particularly in India, and product supplies from the Middle East.

Expected growing demand for gasoline and diesel in the Atlantic Basin is expected to establish stronger East-to-West export opportunities for these products. Moreover, strong near-term upside potential for residual fuel in Southeast Asia is expected to add strength to Asian product markets. Jet/kerosene markets are projected to show solid upward potential across regions in the coming months as air travel picks up.. Demand for naphtha, however, may remain soft, amid new capacity additions despite projections for robust gasoline blending demand in the coming months. Outside of the US, propane could become the preferred petrochemical feedstock on the back of stronger margins.

The robust oil demand outlook for the summer months warrants careful market monitoring, amid ongoing uncertainties, to ensure a sound and sustainable market balance. To this end, the countries participating in the Declaration of Cooperation (DoC) will remain vigilant, proactive and prepared to act, when necessary, to the requirement of the market.

[smith199]

The EIA Short-term Energy Outlook (STEO) for APRIL continues to forecast growth in 2024 and 2025 for International Petroleum and Liquids Production and Consumption.

https://www.eia.gov/outlooks/steo/tables/pdf/3atab.pdf

The April STEO also forecasts the “average price” of WTI to remain above $80/bbl in 2024 and 2025.

https://www.eia.gov/outlooks/steo/tables/pdf/2tab.pdf

[spec machine]

Thank you, and your reflection on the state of matters in the sector (and broader domestic policy) are accurate and insightful

On a side note, we need a better definition of Strategic Petroleum Reserve

Whatever name it is given, the standard for “Strategic Reserve” should include a vertical slice of everything involved in the production of oil and gas

Everything from Proven Reserves and drilled but uncompleted wells to the drilling and production rigs

Include pipeline capacity and alternative routings to refineries and product pipelines

Spare capacity throughout and a little planning for disruption (other than the current hurricane readiness planning)

In severe disasters and disruptions, the capacity to produce energy and essential goods can’t be under appreciated

I’m not saying that government should throw taxpayer dollars at spare rigs, BOPs, and pipelines

But there should be a big effort to expedite permitting for the private companies who are building production capacity and strengthening our energy independence

That would be a win for the whole country

But it’s not going to happen with this administration, expect a continuation of exactly the opposite

I’ll also add that targeting of your enemies energy infrastructure is getting more common in daily/weekly reports

Headlines today include Russia and Ukraine trading attacks on refineries and power infrastructure

Tensions still smoking hot and nobody wants to give an inch for peace

WTI still mid $80s

GLTA

spec

[smith199]

I will emphatically “second” your comments regarding the Strategic Petroleum Reserve (SPR) and the changing of administrations. Respectfully, “Kudos”.

Not everything in Texas is big, but the oil reserves are.  Interesting fact about this is, without continuous exploration drilling, the U.S. has about 5 years left before depleting production from all existing wells.

So, without further capital investments in oil and gas exploration over the next five years, our country will be vulnerable to forces from outside our borders.  

The USA will not be energy independent, and will be at risk of pressure from other countries because of a reliance on imports. This is why the replenishment of the SPR is vital.

With our current capabilities, I am wondering how long it takes to drill enough wells to offset this inevitable decline. The answer is ‘Woe is Us’.

We need to get started. Time is a factor. This will not happen overnight, and failure is not the preferred option.

I agree that the USA cannot tolerate another 4 years of attacks on the oil and gas industry. It is an undesirable risk for our quality of life, security, and freedom.  

No administration should be allowed to sell our SPR assets on a whim.  Or print additional billions of inflationary dollars to have monies to cover for the failure of the progressive green agenda.  

The bottom line here is, if the progressive ideals on our energy future were workable, why was it necessary to deplete the SPR to keep the country going? And what happens next?

That it was necessary to pirate the SPR is all you need to know to realize the flaws existing in the progressive perspective on energy sources.

So they have only proved to all of us that drilling is required. Because, once the SPR is exhausted, what hope is there for us? 

This is a real-world, vivid example of why the progressive perspectives on oil and gas energy cannot continue.

The saddest thing is that they had to have realized this too, or they would never have compromised the SPR in the first place. But unfortunately, that did not deter them in any way. This is why I believe they cannot be trusted to remain in charge of the destiny of the USA.

Still, there will be a group of people whose thoughts do not venture beyond their day to day secure bubble, and they have no desire to ever be inconvenienced by the truth.  All they seek is the power to control the lives and fates of other Americans for the benefits of their own continued wealth and welfare. We should deny them this outcome.

Now Joe is setting up another token gesture which is doomed to fail and increase costs for all.  I refer to “Green Banks”. And they are fast coming to a community near you.  How is this really reducing inflation? And especially in the poorest of communities?  It will not. In my opinion, this is only a smokescreen to obscure the results from the populace.

I suggest the bulk of these monies will be used for large projects that mostly benefits the profits of those banks. And will not have a great influence on reducing inflation in poor communities.

And thank you for including the wishes for Gulfslope Energy to play a supporting role in rescuing our country from the potential collapse of our energy security.

I now realize that my stomach growling yesterday must not have been due to fasting. But rather, it was because of climate change.




Mrs. Smith

[spec machine]

With the recent events in targeting of energy related infrastructure (Nord Stream, limpet mines and missile attacks on tankers, refineries, dams, nuclear power, etc …)

The SPR depleted and not replenished at the earliest reasonable opportunity …

Underinvestment in upstream beginning to manifest itself in declining production in many mature fields ….

Global hostility at multi-decade highs …

It doesn’t take AI to see that a big change is needed if we’re ever going to survive to colonize Mars

My money is on the big change

We’ll get there

spec

PS I’m hoping GulfSlope can play a tiny role in the big picture …. gotta get to the next administration first

[spec machine]

GulfSlope is still frozen in place but I have this playlist on the big speakers for the eclipse

I remember what happened in 2001 A Space Odyssey though …

I’m hoping for something more like the ending than the opening sequences

Your energy is good energy that’ll get this through to the “Drill Baby Drill” part for a bright future

The celestial bodies are perfectly aligned

Cheers

spec

[Byurwherevergirl]

GSPE may you have a heavenly April 8th ✨🌘✨

Even though I’m far away I feel your energy ☀️ can you feel mine 🎶

my ohana a hui hou

ditto ✌️

WG

[spec machine]

The jobs number came in strong and unemployment remains low

The market slide from yesterday afternoon bounced back pretty well

All the new GDP growth needs energy and demand is projected to keep crude markets tight enough to kiss the low $70’s bye-bye

WTI closed just short of $87

It seems to me that valuations of most equities are still quite lofty considering how volatile the international fabric has become

I’m in an optimistic, but defensive allocation

Big on cash, a selection of strong core equities, and one speculative GOM independent exploration stock

I think GSPE is my most intriguing holding and I find the discussions and information shared here are the most interesting

We have the best tunes here too

Peace … (please)

spec

[spec machine]

WTI closed over $86 and the broader market took a sick slide into the close

That is not a good look for Wall Street

Or geopolitics

Iran now steps into the ring with both feet and talking smack

Needs de-escalation ASAP

Hanging on a thread, valuation wise

GLTA

Cheers

spec

[smith199]

Sometimes when a prediction comes true, it is not a cause for celebrating.

The DOE has just announced it will not be replenishing the Strategic Petroleum Reserve (SPR) after all.

Since this administration took office, the SPR has been reduced from 638 million barrels to 363 million barrels, a 43% decline.

Regrettably, my predictions were correct about this administration being disingenuous when telling us the SPR inventory would be replenished.

The smoke they blow at citizens is so thick that I carry eye drops on me 24/7.

Link to article:
https://www.foxbusiness.com/politics/biden-admin-cancels-plan-to-refill-emergency-oil-reserve-amid-high-prices

SPR data:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W

I find it appalling that our government would put us in this position in the first place. Hopefully there will not be cause for further regret.



Mrs. Smith

[spec machine]

It’s not a good look for GulfSlope

Not being well versed in private equity matters, I don’t know if it matters much in a partnership or acquisition scenario in that realm

If they can bring the right partners to the table, being publicly traded mainly affects the exit plans of the parties (as far as I know)

Dropping another quarter in the jukebox and seeing what will play

Hopefully not a Rubenesque woman singing a sad opera number

“Life is short, hang ten” said the old surfer dude

spec

[smith199]

Just thought I would mention that the Tau partner owning 23 percent of Gulfslope Energy, Delek Group, acknowledged this ownership in their recently released financials (March 29, 2024).

So, this partnership continues even though the costs of the partnership was written off by Delek for tax purposes in 2019.

As of April 1, 2024 the Tau lease remains active (Page 2694 of the BOEM Lease Data Report) and does not expire until the end of 2025.

https://www.data.bsee.gov/Leasing/Files/1221.pdf

Feel free to draw your own conclusions.

We still need a change of political leadership to address the hostility towards GOM drilling.



Mrs. Smith

[NorOilGuy1]

This is starting to feel like the end of the end. If so, it was an interesting watch.

[elcheepo]

Someone should tell trump to talk about GS, and maybe that would do something
…. Or it could do a Truthsocial ..lol

[Werbe]

Grace period has started. 15 more days until this hits expert market. Any contact with management here?

https://www.otcmarkets.com/stock/GSPE/disclosure

[spec machine]

WTI creeps back up to $84 and the global military industrial complex continues to “stimulate” production of both weapons and replacements for everything destroyed

Looks like a bridge and a shipload of TEU miles to replace now as well

GSPE sits in a little niche microcap/independent E&P zone

The majors have ample drillable inventory for the near future, so the opportunity to tap the value in GulfSlope is certainly geared to partners who have the $ resources but not the level of capability or track record in discovery, that GSPE brings to the table

Spring has gotten me more unplugged and off-grid lately

The speckled trout and redfish are feeling the pressure

The tape here has been pretty blank lately but still on watch for anything anomalous, curious, or ridiculous

Cheers

spec

[spec machine]

No significant volume still

WTI hovers in the low $80s (currently $81.75)

It was a hammock day anyway

Hump day cheers

spec

and some brass

[smith199]

Just to be clear to all readers, even though the Department of Energy (DOE) has always released the EIA Annual Energy Outlook in prior general election years (at least as far back as 2000), the DOE has declared it will NOT be releasing one in 2024, although the DOE will continue issuing the EIA’s monthly Short-term Energy Outlook.

Considering that the World relies heavily on hydrocarbons, and the data from this annual report is often referenced when companies are reporting financial results to shareholders, or planning business strategies and budgets, this is definitely a curious occurrence.

The good news is the DOE will be issuing the EIA Annual Energy Outlook once again in 2025. Better late than never, especially since this Outlook includes projections out to 2050.

And despite all of the DOE’s efforts to hinder oil exploration, the Tau lease remains active.  It is by now obvious the Tau partners are resilient enough to roll with the punches and stay off the ropes.

In view of the unprecedented actions, policies, regulations, and general hostility directed towards the Oil and Gas Industry by this administration, the presidential election cannot come soon enough.

So, …. Hit the Road Joe….
And do not come back no mo’.


Meanest Ol’ Woman,
Mrs. Smith

[spec machine]

That’s a great observation and an interesting anomaly in the EIA report (delay)

That’s a huge divergence from the normal mid-March report release, 8 months late!

And I think your instinct on the reasoning for the change is accurate

Even though the current administration has total control of the content of the narrative, and partial control of the actual data, there must be consensus that there’s no way to craft the report into a “net positive” for the party

So, they just push it to be released after the general election, pure political hackery

And it’s likely that Delek is not interested in participating in another drilling campaign until there is a big change in US domestic energy policy

In retrospect, I know the economic and regulatory conditions have been unfavorable under the current administration, but now it’s a lot clearer that the hurdles were far more than I had imagined

The turbulence in global geopolitics has only intensified with each passing month

I wish we didn’t all have to pay the FO price caused by the FA of those responsible for this situation

Can’t wait to be back in “Drill Baby Drill” status

Western civilization is at an inflection point

It might have been an understatement when I predicted the biggest commodity super cycle in my lifetime

Much broader implications

It will be a benefit to the entire world population if we set the sails correctly

Cheers

spec

[smith199]

Something to think about regarding the Department of Energy’s EIA ‘Annual Energy Outlook for 2024’.

The Outlook is being delayed until after the general election. So the next annual forecast will not be issued until the Spring of 2025.

This is a remarkable new change in protocols but perhaps not that uncommon for the bureaucrats in this current administration.

Could this be due to concerns regarding how their base will react to a forecast that reflects growth for crude prices, oil and gas production, and fossil fuel consumption?

Elections affect many things. Those that believe elections do not matter are wrong.

What will be the first proposed legislation of 2025 if things change up “bigly” in November?  Considering the foremost Bill introduced to the 118th Congress (H.R. 1) was focused on lowering energy costs through strengthening domestic energy production, exports and infrastructure, I will go with legislation or executive orders on ENERGY.

Surely the Tau partners are not the only ones who recall these executive orders under the previous administration.

*13783 of March 2017 - ‘Promoting Energy Independence and Economic Growth’
*13795 of April 2017 - ‘Implementing an America-First Offshore Energy Strategy’,
*13867 of April 2019 - ‘Issuance of Permits With Respect to Facilities’…,
*13868 of April 2019 - ‘Promoting Energy Infrastructure and Energy Growth’

I wonder what influence DJT’s Executive Order - 13795 ‘Implementing an America-First Offshore Energy Strategy’ had on Delek’s decision to partner in the Tau prospect. Conversely, I wonder what effect the Big Guy’s hostility towards oil exploration is having on the Tau2?

After all, this is an Industry that features high investment combined with high risk, and the last thing a partner wants to deal with is a lack of support from the federal government.

The bottom line as I see it is, this can be a big deal for our side if DJT wins. Just saying.

Recalling his ongoing mantra “Drill Baby, Drill”.

Wishing all a joyous Easter.




Mrs. Smith

[smith199]

The Tau BOEM lease G36121 remains “active”, but no SEC filings at this time.

The theme of this post is a true oil exploration story. And the wildcatting moral of the story is essentially ‘if you quit, you will not find it’. But please remember to guard against overlooking the real risks facing the company in the pursuit of a GOM discovery.

Two large international energy companies decided to become partners in an exploration plan drilling for offshore oil.

Six years later, one partner dropped out after millions of dollars were spent, and only a few dry holes resulted.

But the other partner continued on alone, while following trusted seismic data, and found new partners.

The following year (2015), the first discovery was made. Since then, other successful wells have been drilled. And developmental drilling continues.

It is estimated that these reserves are 3X larger than those of Saudi Arabia. A big deal discovery for sure…. Kudos to these exploration professionals.

The company that dropped out (Shell) is scrambling around searching for other drilling blocks in the area with potential for a similar result.

The company that continued on (Exxon) has created wealth for their new partners, their shareholders, and the country of Guyana (which is now considered to have the world’s fastest growing economy as a result of this discovery of more than 11 billion barrels of oil and gas reserves). It is estimated that by 2027 oil output in Guyana will be over 1.2 million barrels per day (currently 645K bpd).

Despite the huge differences between Gulfslope and Exxon, there are a couple of parallels to point out. If there exists good seismic data worthy of confidence, and if the partners are determined to continue the search, then the potential for success still remains. Additionally, Gulfslope obtained much desirable data and drilling experience from the Tau1. Who knows what the future holds?

If any readers see this post as being too optimistic regarding the prospects for the company, I say this is just the way the oil exploration and drilling business works. I offer no encouragement or enticement for following any particular path.



Mrs. Smith