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spec wanna run your ideas by me one more time
Exactly, LOL
Another low volume day, about $3K on the tape
Plenty of flight-to-safety in broader markets
Fed 25 BP hike in line with expectations of a lighter hit than the 50 BP expected a week
Fear is the trade
GSPE still had a firm bid all day even following a block sold
Several MMs on the bid too
Continued accumulation is my interpretation
I’m ready for the tide to return to the broader markets before I dip in again but holding my GSPE
Cheers
Decentralize power
Grow a big garden this year
Drill Tau2
spec
Other than that, how was the play Mrs. Lincoln?
A little bump up in the bid, a few at .0076
A few jumped over a bid at .007 earlier (to .0075) and no sellers have whacked it
WTI heads up a tad $68, nat gas falls back to the bottom $2.20
Crude is where the analysts said it should be in a stable, well supplied market
Other than a major war, teetering on banks collapsing, some saber-rattling NK launches, and rumors of an indictment regarding a prominent president candidate ….
Yeah, other than that, everything is cool
spec
Spring is here!
So much market turmoil and anxiety
Bank bailouts and potential charges against former president and leading GOP nominee
WTI still bumping along around $66
Buy antacids manufacturers
Drill Tau2
spec
GSPE guess who’s not wearing any green? I really adore leprechauns
A teeny part of my weekend playlist
Happy Saint Patrick’s Day and a “triple witching day”
Think positive- GSPE Green!
Y’all trade safe today
I’m off to the pub because..
If you’re going to be drunk all day ….
…. you gotta get started early
Cheers
spec
PS - I have a “designated trader” today (hard to find a good sober one)
Yes. Confidence.
I am confident that the incoherent rhetoric postulating the end of ‘fossil fuels’ is being shown to only be propaganda for the manipulation of the gullible and uninformed.
I am confident that informed, sensible, and wise persons realize that oil and gas is vital for our continued well-being and will support and insist on it being supplied to the marketplace in the volumes required to sustain our civilization.
I am confident that EVs will be shown to be useful mostly as niche transportation for those wealthy persons in dense urban environments rather than for the masses.
I am confident that the economics of EV ownership will be shown to be non-competitive against the internal combustion engines and that they best represent those affluent individuals ability to absorb the additional costs of ownership.
I am confident that ‘climate change’ will be shown to be only the primary tool used for the control of our politics by progressives. And that ‘climate change’ will not be able to withstand the rigorous scrutiny necessary for manipulating future energy policy. It will come to represent the effluent politics of the opposition.
I am confident that Gulfslope will find the right deal to move the drilling vision, as well as the purchasing of existing production, forward.
I am confident that Gulfslope will be successful in the pursuit of oil accumulations in the shallow GOM and will thrive to the point of being a mainstream independent producer.
I am confident that my biggest regret as a Gulfslope shareholder will be my inability to find more shares to buy at these low-ball prices as the competition is great for the limited number available.
Yes, confidence. That is what enables me to stand firm with my convictions in the face of these not-so-insurmountable obstacles. And I do put my money where my mouth is. So I join with the other shareholders of that 1.27 billion shares.
Good word choice, spec. ‘Applause’.
Mrs. Smith
WTI dips below $66 on global fear of economic collapse
SBF and the FTX scandal was far bigger and probably plays a bigger part of the financial system weakness today than does SVB
Those losses (FTX) are a big part of the overall weakness in the balance sheet of many large banks (as those losses are just now being marked to market and widely revealed)
There has been a dramatic increase in determination to unleash domestic energy, both upstream and midstream
That should significantly boost the probability of GulfSlope waking from its slumber
The bid remains elevated (by T/A metrics) in a sign of optimism (tiny in size but a welcome development)
The 1.3B shares held tightly indicates confidence
Not a small task to maintain hope and optimism in this market
It’s considerably easier if you’re positioned correctly
GLTA
spec
Market melting and GSPE bid still firm
Powell had the crosshairs on the average citizen and corporations
Using the levers of power to damage the economy and cause pain
We were warned
Banks just got in the way
Oops
The energy super cycle is still in place
We’re just at the top of the second inning
Fire sale prices in most equities
Shop wisely
I’m heavily weighted in safety but holding on GSPE with a dirt bid if it falters
WTI dipped below $70 early today and still falling, currently $66.50 wow!
GLTA
spec
Much appreciated.
Live Long and Prosper. ‘V’
Remember to celebrate it each day, not just on March 26th.
Mrs. Smith
Good info, thanks for posting it
The link for the plain English priority items of the legislation proposed is a must read
Passage of even half of it will be a huge step for investment into exploration
Tide shifting
spec
I am very thankful for the overall strength of the oil and gas industry. It is undeniable that they have managed to withstand the assault from the Joe administration. This is what companies with competent leadership can achieve and accomplish. And at the very least, I expect they will continue to hold firm.
No matter how hard Joe tries to sweep the oil and gas industry under the rug, sanity and reality will not allow it. To say nothing of the requirement presented by the demand for petroleum products.
FYI, his 2024 federal budget allocation to the BOEM for ‘Oil and Gas Development’ finally had a substantial increase of around 20% since 2021. I was not surprised to see Oil and Gas Development once again receiving more dollars than Renewables. Why? Because that is what reasonable and prudent citizens expect and demand. As bad as things might seem right now, try to envision what would be going on in your world if petroleum was suddenly unavailable. And Joe and his boys know it, in spite of the rhetoric they use.
I am hopeful bipartisan victories will continue to be achieved in both Houses of Congress. And remember, one way to apply pressure is through the ‘purse strings’. Spending, or more accurately reduced budgets, will be how to tame certain partisan activities that are in the way of the country moving forward.
The BOEM may hold as many as (3) GOM oil and gas lease sales in 2023. The (2) Biden stalled 2022 GOM lease sales, 259 and 261 from the 2017-2022 National Oil and Gas Leasing Program are now scheduled for the end of March and September of this year. Then there is the (1) scheduled 2023 GOM OCS lease sale, 262 from the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program.
Ecstasy is the emotion I will exhibit if Gulfslope can participate in at least ‘one’ lease sale this year.
Mrs. Smith
Today (3/14/2023), House Majority Leader Steve Scalise (R-La.) introduced H.R. 1, the Lower Energy Costs Act, along with Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-Wash.), Natural Resources Committee Chair Bruce Westerman (R-Ark.), and Transportation and Infrastructure Committee Chair Sam Graves (R-Mo.) as original co-sponsors, to tackle the energy crisis caused by President Biden’s disastrous policies. The bill will be considered on the House Floor in the last week of March.
https://www.majorityleader.gov/uploadedfiles/hr_1_overview.pdf
The Lower Energy Costs Act restores American energy independence by:
* Increasing domestic energy production
* Reforming the permitting process for all industries
* Reversing anti-energy policies advanced by the Biden Administration
* Streamlining energy infrastructure and exports
* Boosting the production and processing of critical minerals
“For the last two years, President Biden and his extremist friends in Washington have waged a war on American energy, and hard-working families across the country are paying the price. Gas and utility costs have skyrocketed to record highs, with the average American paying over 40 percent more for gas at the pump since President Biden took office. Voters gave Republicans the majority in Congress to stop this radical anti-American energy agenda, and to take action that will lower prices, and House Republicans listened. I am proud to introduce today H.R. 1, the Lower Energy Costs Act, to cut red tape and increase energy production here at home so we can lower energy costs and stop our dependence on hostile foreign countries for our energy and minerals. With today’s introduction of the Lower Energy Costs Act, we will show the country how to end the war on American energy, become energy independent again, and lower costs for hard-working families who are struggling under the weight of President Biden’s radical agenda.
“I want to thank Speaker Kevin McCarthy and Chairs Cathy McMorris Rodgers, Bruce Westerman, and Sam Graves for joining me in bringing the Lower Energy Costs Act to the House Floor, and I look forward to its passage,” said Majority Leader Steve Scalise.
"Last Congress, House Republicans established our Energy, Climate, and Conservation Task Force to develop energy policies that meet the real needs of our constituents and our country. H.R. 1, The Lower Energy Costs Act, is a culmination of that promise. This bill counters President Biden’s attack on our domestic energy, and includes permitting reforms that will speed construction for major infrastructure projects across the country. I commend Majority Leader Steve Scalise, Chairs Cathy McMorris Rodgers, Bruce Westerman, and Sam Graves, as well as every member who spent the past 18 months dedicated to lowering energy costs for American consumers. Because of those efforts, we now have a bill that will grow our economy, strengthen our national security, and ensure clean, affordable, American energy can power the world,” said Speaker Kevin McCarthy.
“From the gas station to the grocery store, President Biden’s war on energy is making life unaffordable for the hardworking people of this country and forcing us to be dangerously reliant on supply chains controlled by the Chinese Communist Party. We must reverse course. H.R. 1 boosts energy production, lifts regulatory burdens for the construction of more energy infrastructure, cuts China out of our critical materials supply chains, and lowers costs across the board. All of this will ensure we build a better and more secure future in America,” said Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers.
"Energy security is national security. Republicans are delivering on our promises to the American people by unleashing the full power of our energy and minerals, cutting permitting delays, creating jobs, growing our economy, and dealing a blow to China and Russia. At long last, H.R. 1 will give Americans the tools to tap into our resources and build stronger, more resilient communities than ever before. When families no longer have to worry about how they'll afford to fill up their gas tanks or turn on a light switch, they have the necessary breathing room to invest in our economy. I believe our best years as a country are still ahead, but we won't get there by taking a backseat and outsourcing an ever-growing demand for natural resources to our foreign adversaries. We are taking back control, putting America first and unlocking access to the cleanest, safest energy production the world has ever seen," said House Committee on Natural Resources Chairman Bruce Westerman.
“Addressing America’s ongoing energy crisis is one of the most important actions this Congress can take. The last thing we need is to be dependent on foreign energy, especially when we can produce and distribute energy here in the United States and maintain our environmental standards at the same time. This legislation will prevent federal water regulations from being hijacked and weaponized to block important energy projects, and I’m proud to have the Transportation and Infrastructure Committee’s work included as part of H.R. 1’s commonsense and comprehensive approach to solidifying our energy independence,” said Transportation and Infrastructure Committee Chairman Sam Graves.
WASHINGTON, March 14, 2023 — American Petroleum Institute (API) President and CEO Mike Sommers and North America’s Building Trades Unions (NABTU) President Sean McGarvey issued the following statement on the Biden administration’s decision to approve the Willow MDP Project:
"We commend the Biden administration for approving the Willow Project and for supporting the over 1,600 family-sustaining union jobs this project is expected to provide. The approval of critical energy infrastructure investments like Willow is essential to strengthening U.S. energy security and creating new economic opportunities across the country. Our organizations appreciate the support shown by the President to safeguard national energy security while securing middle class sustaining employment opportunities that will drive our country forward as we transition to a sustainable future derived from our vast energy resources."
The labor and oil and natural gas industries have united to be a healthy and thriving part of the 21st century of the American economy. Recognizing the importance of providing innovative and affordable access to energy is vital to the American People and the Nation. As part of the American tradition of building and growth in the industrial base, we understand the importance of the strong relationship between labor and the companies that will harvest the wealth of untapped oil and natural gas resources. The two million skilled workers of the American oil and gas industry are part of diverse economic communities across the country by protecting this crucial American resource.
Working together we can protect and promote job growth and be part of the economic future of America. Coming together we will address issues facing American workers in the oil and gas industry and throughout the economic base by enhancing economic development of the oil and natural gas industry, working together on public policy decisions affecting job retention and growth and educating the public on the importance of our economic impact on communities across the country.
Unfortunately that permit wasn’t a final thumbs up
Even then. look at the Keystone XL pipeline, it had a final approval
And the illegal rescinding of the previous lease awards (overturned)
All eyes on “Lower Energy Costs Act” HR1 for 2023
Later this month is the target date for passage
The menu always makes the burger look delicious
But will it fly ?
WTI down a notch $72
Market says SVB going down is not cataclysmic
Blaming crypto and Trump ….
Reality is stranger than fiction, BONDS caused the meltdown at SVB
LOL, can’t make this stuff up
Don’t get me wrong, market is still bearish but not because of SVB
SVB is a symptom
spec
Biden just approved an $8 Billion drilling project in Alaska. Please be the sign of some loosening of the grip by this administration on oil exploration / drilling.
The lease info is out as (as far as what is open for bids and term)
Lease auction is March 31
If anyone is interested in checking, I believe that is when the winning bids are announced (rather than the deadline for bids)
I believe that both Delek and GulfSlope are qualified to bid
I don’t recall any info being available on who is submitting bids except when the results are available
Next 10-Q is due May 15th
Stormy markets, batten the hatches
Cheers
spec
When is the next Q report due out? and Spec when do the leases, you have been mentioning come out for bid?
The hey, you say. And not even close. Quite enough money, but could use more time. Since I am not a ‘trader’, I mostly do this just for the intellectual stimulation, and if I make a couple of bucks, that is okay too.
Do not misunderstand. I own enough shares that, if oil is discovered by Gulfslope, I will be very happy. But I am curious, what motivates you to be here?
From your statements on GSPE stock, it seems you have a very negative opinion of the stock, the company, the management, and the shareholders.
All of which begs the question, “why even bother?” After all, if “it is over, nothing here folks”, then why work so hard to get more involved in GSPE’s business?
This is the essence of the question on my mind, and although I expect evasion and not answers, I wanted to put that question in to the record.
Do you see any serious effort to purchase large volumes of GSPE stock at a discount before an anticipated run-up in price occurs?
If getting ‘back in’ at a low-ball discount is an objective, then I am loving that it must be done 100k shares (or fewer) at a time. Sweat equity! Work that ask off! Earn that prize! Talk about borked! And that should put a limit to it.
So no stress here. As the curtain is going ‘UP’ on Act 2 of this show, which is evidently just beginning, and not ending, I am wondering if the curtain is only following the stock price? Does that make sense, or suspense! Dud-de-Dum-Dum.
And make no mistake, some tactics may not gel with GSPE stock anyway. It appears to be protected by the Whales. There are 1.27 billion shares outstanding. And not many shares trade. The Whales have them locked up. How much damage can be done with 100k (or less) share trades? This is the reason many of us swim with the whales, making their hold even tighter.
The chaotic cause will not be helped out. Probably why they did it. Since whales control enough shares, the price is of minimal importance at this point in time, so they can ignore it. They are content to let raiders of the last ask play around some, while they focus on the end-game where the pay-out awaits.
It is difficult to threaten the Whales. Realize they feed on minnows at will. Besides, as long as the Whales stand firm, not much will happen. Perhaps not until the share price increases about 100% from where it is now. Then things can heat up some.
Allow me to propose taking an interest in ‘whale watching’. I have found it to be quite interesting. Others may too. Whales realize the money in this stock will come from drilling. All are welcome to take the ride. Or not. It is a choice. Does not matter to the outcome either way.
I will say this once more in case it was missed the last time. “It is simply a matter of scale. And our level of scale simply does not matter”. At least, not that much. A trade at .0078? Less than the price of a pinch of salt to a whale.
Could be hard to get a stake of an interestingly large volume at a discount. By paying a premium, and acting soon, it ‘might’ be possible to get it around .01 or so, and that can be a generous pay out down the road. A little patience and perseverance is all that is needed. And some cash.
Just a little analysis for our readers. I do not mind taking time for them. My pleasure.
Mrs. Smith
One should not lose sight of investments that have the potential to pay huge returns and dividends. Like oil and gas. Like Gulfslope Energy.
The interview on Cavuto reveals that ‘Woke’ investing was a big contributor to the failure of the bank.
The message was that, when investing with the focus on climate change, ESG, and renewable energy rather than shareholder value, then not only could returns on the investment not be realized, but the investment itself may be settled for pennies on the dollar when it all collapses.
And on top of that, it appears that some bank officers ‘cashed out’ by selling off their stock before the collapse. And if they get away with it, a sad state of affairs for the only losers, those shareholders.
The moral to this story is that if your funds are an investment, not a ‘contribution to a cause’, and management is not supporting the interest of the shareholders as it’s first priority, then ‘Get Out!’ while the getting is still good.
Politically motivated investing for purely ideological reasons risks a lower rate of return and in extreme cases, gross loss of principal. Perhaps that is why BlackRock, Vanguard, and State Street are all abandoning ESG investing. They have seen the handwriting.
Look at Russia and China. Even much of Europe and the UK. Is this the standard of living you find appealing? Three generation households with six to a room are common. No, I am not talking about the ‘fat cats’. But the typical productive worker trapped in such a society. No wonder the world beats a path to our door. Opportunity draws them here.
The progressive vision may be to bring the less fortunate up to parity with ‘equity’, but the consequence of this approach will actually be to bring everyone down to the level where no one has anything. That is, unless you are employed by the government and are the beneficiary of their gracious good will.
The non-productive can never reach parity with the productive without harming efficiency and reducing output. It is a skill issue and that is what must be addressed. Teach them to read and do basic math. To be on time at work. Pass a drug test. Then they have the opportunity for a better life.
Since there is no initiative to work for the same wages as paid to those who do not work, many workers will allow someone else to carry the load.
The result? No one does enough. Lower output. Poorer quality. Lower standard of living. It has never worked. Anywhere. Anytime.
The ‘equity’ of this action will be that no one has anything. Except ‘fat cats’ skimming off the top.
Please notice that, without the wealth produced by the most productive elements of our society, there would be nothing to redistribute. A case of the parasite killing the host? Exactly. And that is the problem with equity. How will it be paid for with no wealth? That is why it always fails.
So, Joe’s executive order to allow pension funds the option to purchase ESG investments has been blocked by both Houses of Congress, and absent his veto, we are spared for now.
But recognize the jeopardy these socialists in government can put all of us in by simply changing investment rules (ERISA) to allow willing bureaucrats to invest your money to further their political ambitions rather than your financial goals. This will not be the last act in this play.
Best to stay informed.
Mrs. Smith.
I was happy to see the share price showing strength. I was also pleased that the volume appears to be returning. If this trend continues, the momentum will have a positive effect on both the price and the volume.
For the record, I never believed there would be an analysis. Because the premise is not supported by the FACTS.
Continuing the search for useful ‘nuggets’ that will provide FACTS to guide our future expectations.
By the way, I do recall a LOI, but I cannot recollect the name of the privately held company. Since there is no public data it might be hard to track down. V-ger might be your best chance. Sorry I could not be of more help.
Cheerio.
Mrs. Smith
Nice close but just a tiny slap on the ASK at the end
.0078 at the close
The bidder (one at least) came back at the end of the day
Not even as much as yesterday but a painted close anyway
More words from the swamp just seems to inflame the jittery markets (Manchin, energy)
Also, a small bank meltdown that is getting way too much attention, IMO
Crazy markets but closing the week in the green is certainly positive
Enjoy your weekend y’all
spec
Okie Dokie I’ll keep my peepers open for GSPE news. Anyhoo, yesterday while running a very warm and tingly feeling came over me. Yeah at first I thought it was GSPE too. Nope it was the bee who stung me
My GSPE bestie vibe
Big red day across all sectors, sheesh
Sellers are selling anything they can
only 100K on the tape currently,
L2 is .0065 X .0078
Bid has been thin and the standoff continues across a wide spread, although the ASK did drop a bit from .008 to .0078
On the road today so I don’t have my fingers on some data, does anyone recall the name of the company that partnered on the “shallow prospects”?
Texaskew is something from my cobwebs but it might have been a different one, anyone know?
Not Texas South
I was thinking of turning V-ger loose to scour up anything interesting on the other party that GulfSlope had a relationship with
300K on the bid @ .0065 now
It’s not much, but it’s someone that believes GSPE has a future
It does
and we do
Drill Tau2
spec
Are you serious ? .0061 stock (not even a penny) and you want an analysis ?
Sweet lord you have more time than money obviously
The bidders at yesterday's close didn't show up today
100K dropped on the bid took us from the tiny trade of 10K @ .008 all the way down to .0061
More market turmoil and financial institutions under pressure after the implosion of SVB
So many huge market moving events/disasters, so few dependable sectors
sheesh, what a mess
Jobs report good, bad news for Fed rate hike (likely to be 50 BP)
GSPE, I hope there's a silver lining somewhere
WTI up slightly ATM
spec
It’s a binary, if there are no bids from GulfSlope or Delek then it’s a zero, no change from the current available info
If there is a bid, the implication is - drilling program imminent
I expect that an 8-K would precede the lease auction to announce whatever contracts for partnership update and financials
Could be nothing ahead, I don’t know
Just a thought on what might happen if there is a chance of drilling before our next presidential election
There are a few other possibilities regarding producing properties and M&A
A rebound from tax selling is expected for financially sound tickers
For zero revenue micros, it’s encouraging at least
spec
Why are the upcoming lease options relevant to what's going on with GSPE? I can't figure this thing out at times there seems to be smoke but nothing ever becomes of it. Once in a while there's a little movement after the tax sell offs but it seems to me that's just the MMs having their way with the situation.
A quality post! Much appreciated. With my distraction behind me, I will refocus.
Mrs. Smith
Everything took a hit today
Energy was hit really hard and overseas windfall taxes are causing pain (layoffs and drastic capex cuts)
Domestically, it’s headline-induced fear to add fuel to the selloff with only words
Specifically, the budget proposal calling for “war on fossil fuels” tax and spending items
It won’t pass the house, but it’s a blueprint for one side of the upcoming debt ceiling battle
GSPE is in the battle space but has no ammo
Existing and potential partners certainly have the $$ to deploy if conditions are reasonable
Hardly a mark on the tape today but we did end up with a better closing bid than anything recently seen
2 MMs bidding at .007 and .008 on the ASK
I like how it’s trading under the current conditions, except for the tiny volume
Not seeing any dumping
WTI slides to $75
Nat gas pulls back to $2.50
Cheers
spec
You aim a lot of derogatory statements at GSPE stock. But, I never once have observed any coherent argument with facts or data to support your position and point of view.
Why is that? Is it because there is actually nothing of substance behind what is being said? If not up to the challenge, then just Discard the Discord and Chaos before regrouping. Perhaps this is the part of the show that is over.
So share that Petroleum Engineer expertise. Surely you have the clue, at least you try to sound like you do. So let us review the evidence. It is not really that hard. At least not for those that drill for a living. We will wait. Dude, do not turn out to be a dud.
This is just a request for clarification regarding the statements that you post. Please organize and present the arguments on GSPE stock that you wish for us to consider and take seriously, if there are any. So, once again, put up, or ‘not’. Which is it to be?
Take all the time you need. And like I already said, “we will wait”. But until you can justify those statements, I pronounce them to be of not much use and of limited interest. I will not heed them, nor will many others at this board.
This is a different game, and although you are not a whale, you are being watched.
Mrs. Smith
A “cultural neutral” standoff again so far
.007 on the ASK showing just 10k but it’s through GSTM so there’s likely more backing it
WTI jumps to $78 briefly and currently $77
Here’s the thing about GSPE -
Reality plows through good intentions like a dozer over daisies
Reality - the global market for crude may waver and wiggle but it will be RELENTLESS
GulfSlope has “drill-ready” prospects, both on the Tau lease block and blocks that will be auctioned this month
In addition, the Tau prospect is optimal in several key areas, low royalties, high permeability and production flows (reasonably assured by analog Mahogany), lower capital requirements than deep drilling (shelf jackup and existing pipelines nearby), faster time to first oil, etc….
So, the pitch is still as good as day1
The market environment is domestic exploration is dramatically different, some huge hurdles and one big positive (crude pricing having an apparent floor in the low $70’s)
The bulldozer is coming and upstream investment MUST return to GOM oil & gas
If GSPE catches a little fire, we’re off to the big party
I’m an optimistic person but I never bet against the bulldozer
spec
soon to be .0007... nothing here folks, show is over
Yep, it’s crickets again with no volume
400K showed up on the ASK today at .007 but no slaps were heard
Energy sector is getting hit this week, it seems like the global growth projections (and crude consumption estimates) from Friday have been forgotten
The short attention span theatrics are focused on the Federal Reserve’s war on the economy
Half of the people looking for a soft landing are soft between the ears
Good or bad, we’re going to have a nugget of data from the lease auction in a few weeks
WTI softer to $76
Nat gas still near record lows $2.60
spec
Dam no movement here at all for two days what gives. I thought there could have been some news after the movement last week. No new information coming from the board just a little family in fighting nothing useful.
The Fed turns the screws and the equity markets bleed red
Powell has been very deliberate in using the word “pain” in his speeches and writings for months
The stillness in trading for GulfSlope (and micros in general) is typical of big volatility days
Anticipation ….
If we can only end a few wars
Let’s start with the easy ones
War on fossil fuels
War on profitable big corporations
War on political dissidents
Seriously, even a small shift would make a huge difference
The world NEEDS a strong America
spec
The GOM rig count fell by 1 rig this week, but is still up by 33% from this same time a year ago. So the Industry predictions regarding a significant uptick in GOM drilling for 2023 appear to be accurate and coming to fruition.
Other oil and gas Annual forecasts are scheduled for this month. I am particularly interested in the U.S. EIA’s 2023 Annual Energy Outlook and OPEC’s 2023 World Oil Outlook.
WTI is up slightly to $80.75/bbl. Due to tightness in supply and increasing demand from China, we should probably expect crude prices to rise even further.
More later.
Mrs. Smith
Looking very thin and nothing significant showing on L2
.0065 X .008 but vapor thin
full moon on deck
that’s good for big tides and wildlife
spec
An old joke about Biden drilling for oil….
Joe is drilling in the ice for oil when he hears a voice call out from above,
“There is no oil under the ice.”
Joe looks up but doesn't see anyone. He asks - ‘can I at least drill and see for myself?’
The answer is in a louder tone,
“There is No Oil under the ice!”
Joe looks up and still can't see anyone. He thinks to himself - maybe I'm just hearing voices as he continues drilling.
The voice bellows louder than ever,
“There is No Oil under the ice!!!”
Joe begins to tremble as he asks - ‘who speaks to me?’
“I am the owner of the hockey rink.”
Joe should just let Gulfslope handle the drilling.
Mrs. Smith
Playlist loaded and cranked up to 11
Loud enough that the neighbors come over to join in the Friday groove
GSPE bid looking nice heading into the close
Tick tock
Enjoy your weekend with a green GSPE trend
spec
I really don’t think my GSPE ASK is big enough for them to float for 60 days. Maybe if I combine assets
GSPE I hope you get to use your weekend for making connections with places, ideas and people that truly enrich your lives. Yep, the very best kinds of commodities!
My tootsies will be doing a little dance with those weekend waves.
Freaky Friday vibe
Yep, high GTC sell orders is one way to skin a cat (or obstruct the short selling)
For a minute there in yesterday’s trading, I wasn’t sure if .007 was going to flip into a .0069 or slap that .008 ASK
Slap the ASK and set the shorts on FIRE!
Just smoldering is a lot better than sinking so that’s what I’m seeing
Like watching molasses flow uphill
Tick tock
WTI climbs to $79 and Nat gas to $2.85 on a generally positive market day
I have faith in good people and there are some good and brilliant people at work around the globe to better our world
Cheers
spec
Love it…
FYI - I have gigantic 60 day sell orders for all of my shares. If they hit I can retire. The reason I do it is so that the brokers can’t borrow my shares to sell to others. I hope you all do that with your shares. As the momentum builds it will be more and more important that there are less shares available on the float for stuff like that.
If anyone wants more info on it I am happy to explain but basically I put a 60 day good to close order sell out for like $5 per share.
Have to re-enter every 60 days or so. But that way no broker can “borrow” my shares to sell to someone else. It helps eliminate the messing around with price. Just an FYI.
Someone is soaking up shares smartly and deliberately (patiently)
Still GSPE lifts generally higher
Considering how “risk-off” the current situation is in micro cap world, no volume available for sale at these levels
JMO
Cheers
spec
Thank you WG, another great playlist and I really feel the vibe “diamonds taking shape”
Oil and gas trends are upward on China economic headlines (do we really trust the accuracy there?)
Mixed metrics here so volatility is the watchword
GulfSlope is still in a great position for investments into domestic oil & gas exploration
Isn’t this the M&A season?
If GSPE is going to bid on leases, I think they will almost certainly hit a disclosure threshold for an 8-K definitive agreement before the auction
Tick tock (the sound, not the malware app)
Cheers
spec
GSPE I’m having one of those special weeks where a gorgeous butterfly from the D Butterfly Garden might end up landing on my forehead just so it can give me a light kiss. You might receive a gentle kiss too if you stand right next to me Yep it never felt so gooood!
WTI drifts higher ~$77 Nat gas continues to rise from the extreme lows
GSPE gets just a few more ticks on the clock. bid-whacking a tiny amount just gets soaked up
Float appears locked up tightly and rational views on energy issues are being spoken
Enough with words
Drill Tau2
Cheers
spec
Runup to the lease sale?
March 29
BOEM GOM lease sale #259
WTI remarkably flat mid $70’s
Nat Gas bouncing off record lows Henry Hub currently $2.60 ish
Geopolitics smoking hot and less than cordial, watch your 6 at any critical infrastructure (just my take on current trends on risks)
spec
Peeking out of the shadows for a few moments.
From my perspective, the ‘challenge’ to GSPE shareholders is in the volume, not the price. The company however may prefer a higher share price because it reduces the potential costs of securing partners and financing. On Friday, we got a taste of both. And it tasted good.
Low volumes (whether buys or sells), and the prices that accompany them, are mostly meaningless in the overall scale, scope, and scheme of a company with 1.27 billion shares outstanding. But they do still have negative impacts by deterring interest from new investors.
Low volumes are bad for everyone, and low prices are not favorable for creating investor interest either. This is undesirable because, without actively participating investors, traders are reduced to ‘chipping’ away at each other. Recognize that investors are more critical to the future of the stock than traders. You decide if there is a benefit to driving them away. Or to damaging the stock.
Since many low volume trades are sacrificial moves meant to lower the share price, they are destined to lose money. The preferred trade is one of ‘fewer shares = less loss’. This results in even less interest from new investors. Show of Hands, which of us engages in this to LOSE money on purpose? Anyone???
Is this a rational strategy for ethical traders to embrace? The math simply does not work for making MONEY if measuring profit by counting dollars. Is the point of doing this for dollars, or to count minor trading victories?
All shareholders have different reasons for owning this stock. But none of us bought it for the outstanding earnings and financial performance.
I personally own it due to the potential for an explosion in the share price when oil is discovered. It will positively shake things up…. G-!!!!!-A-!!!!!-I-!!!!!-N.
Meetings, discussions, and interested people? An absolute probability. I may be talking to the wrong crowd or situated in the wrong location, but I have personally heard no ‘buzz’. Yet. Among traders I wonder if our buzz is focused on the correct topics to pique or hold the interest of an investor?
And be assured, I share my own buzz. “More (shares) is Better!” and so forth. So do I get partial credit?
Also, management is full-time beating the bushes for a partner. Just as many appointments as they can set up and as often as they can. Trust in it.
These people will also have contacts with others. So the word gets out. Among them, there is likely to be some with money enough to take personal positions. Especially when it appears the stock price might be strengthening.
These partner discussions are happening. So, wait for an announcement. We should then see .02 with no sweat. Drilling begins at +.04. You know the rest….
Please note…. If these low volume, low demand gyrations become the prevalent trend with GSPE stock, they might eventually kill our ride due to lack of interest. It will be difficult to jump-start and get going again. So we will then need to sit and wait. Or walk….
Yes, ‘challenge’ is the right word.
In conclusion, just a fun little ‘ditty’ set to the theme song from an old TV western re-run with Clint Eastwood (see link):
Churning, Churning, Churning….. Keep those shares a-churning….. Stir it up! Shake it up! Spit it out! Skim it off! Slap that Ask!... And keep going, going, going… on, and on, and ‘oh-oh’….. Sorry.
But I do find the use of a whip interesting to get volumes moving. Perhaps we could refer to it as ‘whipping the ask’, lol.
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