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Yes the Offshore Technology Conference has started and there are many dignitaries and attendees from around the world indicating broad global interest.
Reading about some of the presentations to be given, the thing that catches my attention is that the contribution of the USA is for the DOE to offer a presentation on ADVANCING OFFSHORE WIND.
In my opinion this would fit in better at a different venue, instead of floating around in the OTC punch bowl. But this administration specializes in wasting taxpayer time and money. I wish I could get a sense about the level of attendance for that presentation. Could be worth a fun comment.
Perspective: the last offshore wind auction in the GOM grossed only 5 million dollars, so not a big player, but a big failure. And salt in the wound, those big East Coast wind projects have also been cancelled due to being too expensive (ie, non-competitive).
These appear to be real-world indicators of the folly of depending on wind for generating electricity. The thing about wind is that some of it results from the hot-air stemming from the comments of progressives.
I, for one, will not accept any investment advice from these looney tunes as it is founded mostly in political rhetoric with the focus of furthering their political agenda, not to generate ROI for investors.
If I wished to kill myself, I would climb to the top of the Biden administration’s EGO then jump off and fall to the level of it’s IQ. That should do it.
Mrs. Smith
The Offshore Technology Conference is underway today through Thursday at the NRG park in Houston
If anyone is attending, it might be interesting to keep an eye out for shelf drilling info/activity/tempo and other general GOM buzz
It’s usually a stimulus for some big contracts and M&A announcements
If I’m able, I’ll scan through the lineup and any online presentation info to see if there’s anything that might shed some light
Cheers
spec
Starting off a great new week here and I will note that WTI weakened last week and slipped below the $80 level
I was curious to see if support in the high $70’s would pivot the week’s trend
Currently $78.60 and finding support here at this level
Globally, the headlines read like there’s a bit more stability in production and consumption, and a lot less stability ideologically with protests showing no sign of settling down
As far as my GSPE shares, I’m locked a loaded!
It has a different meaning today than what it did any other time I have said that
I wonder if there was a decision much earlier to allow the delisting in order to mitigate the share price slide
I dunno, that’s just a curiosity for me
I truly believe that the trust I have in the future is well founded in the brightest members of our society
Cheers
spec
I’ll drop in when I see something relevant and possibly interesting to any readers
Yesterday’s House Republican press conference April 30) was worthy of a listen
If you get the full clip, I think the core relevant section begins with Rep Scalise at around the 10 min mark
One take-away is - the environment of punitive strangulation of fossil fuels is coming to an end
The tide
spec
PBR/A and EC. Big foreign oil companies with big dividends. Own both.
Yes...I am interested. I think it's a great idea. In fact, I have some thoughts I plan to put in a memo and post. I've been covered up on other things. Give me a couple of days and I'll get it posted. Thanks.
Tiger
I am happy to see posting on the board is continuing. As a trading board populated mostly by traders, but with no normal trading occurring, I was wondering if perhaps some will want to post elsewhere. I hope not.
Considering the current situation, I have concerns that we might have difficulty keeping the board going. So far, things appear to be working out okay, and I am genuinely happy to see the posting efforts of many of the board members. Thank you.
Just brainstorming here, but during the interim, until management works through this, maybe we can also begin to include posting about other points of interest in the energy markets, and exchange ideas, comments, etc.
I see it as a way to stay engaged until the company and the partner find a path forward or until they do not. Just saying it might be worthwhile for us to stay informed about which fish are biting and what bait to use (analogy for you spec).
Any interest? If so, we can give it a try.
For example, it occurs to me that the pressure to reduce USA oil production will, by far, have the biggest effects in lost energy jobs (thousands), and increased costs to consumers (us), and very little climate impact or improvement (if any). So, three guesses who benefits the most from all this.
Politicians have already ruined many other industries and regulated them to the point of being uncompetitive. This will be no different, just more of the same, and it could have been avoided.
The ‘iron’ (tubulars, rigs, drilling equipment, etc.) will weather the storm very well and will still be quickly available. The problem will be the people. These jobs are often based in technology as well as labor. So, tech or labor, these are skilled workers, and once laid-off, they will not remain unemployed for long.
They will not need to ‘learn to code’. They will be able to find employment elsewhere, and they will leave the industry. So, once demand increases, and that is unavoidable, the iron will be ready to get back to business, but who will work it? Thus, the problem.
These are things to be concerned about for those interested in keeping the lights on, food on the table, and fuel for transport, to say nothing about the decreasing affordability and it’s impact to household budgets.
Many of us will have already seen this happen in our past work experience, will totally understand the issues created, and will know exactly what to expect. And who is to blame.
Mrs. Smith
Yep it was a teeny tiny itty bitty GSPE ASK
I’m thinking it was just a ledger “adjustment” of some some MM account
The oil and gas markets seem pretty resilient and we had a weekend without any big escalations in war risk sentiment
No shortage of tensions though
It’s certainly an odd point in human history
Simultaneously creeping towards both expanding the human race to another planet, while teetering on global conflict with a smorgasbord of evil, “human extinction level”, threat scenarios
I don’t think we’re quite there yet on either
Rooting for the high road option
spec
Yeah that’s possible and the only thing that would make any sense. If they have literally any commission cost at all it blows the value on that trade.
I don't get it either. If that person is trying to be a MM they need to try harder. They might have been trying to see if a trade would go through?
Something about seeing 100 shares traded at .0001 on expert trading status is laughable. In order to buy on expert you have to have a $ million plus in your account I believe amongst other things. And someone just bought a penny worth of GSPE plus commission. LOL
I'm sure you're right it was the way that post was worded the got me to ask the question.
Yes, many of the posts here are very informative. Nevertheless, I think it is a stretch to believe that company management makes a habit of reading any of them. After all, what can we tell them that they do not already know.
Mrs. Smith
Emails or he reads this board?
My recollection regarding the Gulfslope website is that the layout of the contact page was updated within the last eight to ten weeks or so (February-ish).
At that time the physical address of the office was also changed and the emergency phone number was removed as well.
Maybe it was anticipated that many questions were to be forthcoming and that the emergency number was not the preferred contact path. The main phone number remains listed.
Perhaps, because it apparently works for bossi, email is the best way to go about it. Although any responses will be concise and in writing, I would not expect direct, definitive answers to any questions or anticipate detailed discussions.
Mrs. Smith
Yes he still is a VP with the company.....we have chatted at times for a number of years but not a personal friend
Is John a person you know personally? Is he still with Gulfslope? He's still listed as VP on the website, but the site has not been updated in sometime.
no we did not talk about TAU.......I reposted the exact words that he emailed me.....................although I can ask him again about that, given that I know now he sees our emails
In your conversation with John. Did he talk about Tau at all? If he did talk about Tau? What the latest?
well never mind about buying.....not allowed to by my broker in Canada..i can only sell........................for now
Love it! Thanks Bossi!
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
i may try to buy a bit more....
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
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
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
Not great… not great at all
That’s exactly why I called their number to see if the number was still active.
Am I reading the tape from Friday accurately?! Was there actually a trade at .0001? Woof. (Insert sad emoji)
Will take the good news!
Thanks @noroilguy1!
Well, Gulfslope still has an active phone number.
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
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
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
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.
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
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.
Thanks for asking the question I’m confused myself. Can anyone here help. I did Google search it myself as well.
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.
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
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.
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
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
GSPE a playlist to begin your lovely weekend
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
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
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.
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