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The March 2024 EIA Short-term Energy Outlook (STEO) forecast growth in 2024 and 2025 for Domestic and International Petroleum and Liquids Production and Consumption. Note: This takes into account the increase in GOM production as well.
https://www.eia.gov/outlooks/steo/tables/pdf/3atab.pdf
https://www.eia.gov/outlooks/steo/tables/pdf/4atab.pdf
The EIA 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
I consider this good news for energy investors.
Mrs. Smith
The GSPE tape is about as exciting as a curling match
Zzzzzzzzzzzz
Meanwhile, a number of conflicts and movements globally are continuing to drive the bus erratically
No shortage of trigger points for escalation and all the smart folks in the room know that weaponized trade and fiat currencies are a very dangerous combination
Civilization inflection point has arrived
spec
WTI slips back from $83 early in the week to $80 currently
In the old gaff-rigged schooner days it was a well worn adage that “Gentlemen don’t sail to windward”
Similarly, my working theory is that the upstream independent exploitation market space was nuked by regulatory constraints as well as socio-financial headwinds
Of course the onset of those were coincidental with the global disaster of Covid
So, at least a plausible course of action after Tau1 failed short, was to just hunker down and be ready to strike if the winds and tides allow a favorable exploration operation
Picking up existing producing properties would obviously have the bulk of production equipment/overhead already completed
Adding a subsea tieback to a platform and drilling subsalt from the shelf … low cost, low carbon
Light, sweet, crude in premium quality sandstone reservoirs
Well, that’s the plan from the beginning
Maybe plan B could be a ihub gofundme and we just pass the hat till we get $40M or whatever
Plan A is a good plan and that’s what I’m looking for
Cheers
spec
GSPE Happy St Patrick’s Day 🇮🇪🧙🍀
Does management intend on filing here soon? End of this month they will enter the grace period of 15 days before entering expert market.
Yup, classic market maker fuckery
Hopefully it’s a blip on the radar and still on to bigger things in the future.
Those little ASK slaps earlier might have been a move to draw more shares/bidders on the bid
Then drop a block on the bid, ugh
spec
Moved up to .0008 before close so only a 33% drop, not 41%…
Dang was the past few days nice little bid/ask bump a set up for today’s massive 41% drop? Ughhhh I was hoping maybe we turned a corner.
Hardly any volume but that ASK is so firm you could bounce a quarter off of it
Someone just did
well, a little more than a quarter, but not much
Meanwhile, the tax man lurks and prowls to extract more fruits of our labor
Don’t ask what it’s for
Deadline draws near, pay up
Cheers
spec
No smoke, fire, flood, earthquake, or SEC filings
But those high quality GOM miocene reservoirs are still treasure waiting to be discovered
If GSPE gets a relaunch, high fives all around
Distress sale, taken private , bankruptcy, SEC halt, all bad possibilities …..
I still think the data and objective analysis of the market support a somewhat bullish view for the higher risk/reward corner of my battlefield
WTI holding upper $70’s and GSPE slumbers
Cheers
spec
Although I find it disconcerting to be posting about the stock of a company (Gulfslope Energy) that has missed the last two SEC filings (the annual 10-K and the first quarter 10-Q) due to “working capital issues”, I want to say that I am in agreement with much of the sentiment expressed in your post 7762.
That said, perhaps there still exists potential for the Tau. So with a focus on the timeline in mind, please consider the following points….
There are NO fees associated with letting a BOEM lease go and relinquishing it. And at this time I can find no evidence indicating that the company or it’s partner ever intended to relinquish the Tau lease. The BOEM lease, G36121 still remains “active”. And for your convenience that detail is made available on the following March 5, 2024 BOEM GOM Lease Data Report, page 2694:
https://www.data.bsee.gov/Leasing/Files/1221.pdf
And although company cash resources were limited, it appears the decision made on how to best allocate the final effect of these resources was to make the Tau lease annual rental payment, even though this action would facilitate the financial reports becoming delinquent. Undoubtably a tough call.
The company may still fail, but I believe this to be a clear sign that Gulfslope management has no intention of abandoning the pursuit of the Tau 2.
It also appears there is ongoing communications between the Tau’s 75% working interest partner, Delek GOM Investments and the BOEM. They still reflect the Qualification Updates “received” but not yet “completed”. Once the BOEM has completed those updates, Delek should be removed from the weekly BOEM Chief Notes.
https://www.boem.gov/sites/default/files/documents/oil-gas-energy/Industy%20Report%2003042024.pdf
Certainly there is much ‘smoke’ being seen by all, but as already mentioned, the source of the fire remains unknown.
Therefore, despite the lack of clarity in our circumstances, I am in agreement with your assessment that there is no upside to be had from selling our shares at this point. This is a helpful perspective on your part that guides the decision regarding what steps to take next.
So with an appreciation for the great value of these recoverable resources if they are ever proven, and considering the resulting effects to the stock price in such a scenario, I too will hold my shares for as long as possible.
But there are many IFs to overcome. If the company can hold on until after the next general election, and if the hostility of the current administration is rejected by voters in a fair election, and if the new administration wishes to support GOM exploration (which I believe they will), and if a new partner is found, and if the Tau 2 is successful, then all will be well with GSPE shareholders.
But those unwilling to make this investment in time and money or to take on this risk will be disappointed.
So it is really not a complicated decision despite the smoke. Only those willing to stay long in the face of potential disappointment can win big. And even then, only if a successful Tau 2 well is drilled.
Those with a short perspective can perhaps chip off a few bucks here and there, but the big payday will evade them. As bottom feeders deserve.
I see it as High hopes and Low expectations.
In the meantime, although I will miss the frequent interactions of posting here, and it has been my distinct pleasure to exchange comments and ideas with you all, I will mostly be focused on other endeavors in the future.
But I do plan to check back from time to time to read recent comments and maintain my duties as moderator. And perhaps a new post here and there as well, provided I have a comment pertaining to any new developments.
So, until then, Good Luck to All and Thank You.
Calm waters, light winds, and good fishing.
Mrs. Smith
I’ve seen smoke here many times but I never actually see any fire. I would like to be optimistic, but I’ve seen this movie before.
Nice little 33% day today! Anyone know what the catalyst may have been?
… and V-ger pops her head up and sez - “hmmm, 1M on the tape and 2M on the bid at 20% higher than the Friday closing price”
We get some volume and it’ll start to be meaningful
Out of the gate, it’s a fresh look for the week
Cheers
spec
WTI ticks up to the $80 mark as more alleged attacks on subsea data cables are reported in the Red Sea
The economics of asymmetric warfare on low hanging fruit (soft targets such as shipping and infrastructure) weigh heavily on Western military costs
No comfort for the high value targets that get lit up by a laser
GSPE is the dry desert wildflower seed waiting for a sprinkling of rain
“Buckle up an keep yer powder dry, global turbulence expected ahead”
spec
If I remember right. Tau was stopped because of a controlled blow out. By the time they got the blow out fixed the lease on the rig was about to expire. GulfSlope did plan to go back and drill the same hole and had a rig rented. The rig never left port due to covid.
I’m basically in the exact same spot as you @Bowsaw and feel the same. Good luck to you!
Letts hope I'm holding out. $$ guess I am still ab believer; Time will tell
My stake in GSPE is a couple of million shares. Seven years ago that stake was a considerable invesmtent of mine. Now it is quite small.
Will I ever sell?
Hell, the stock has lost 97% of my original purchase value, so there is no money to be had by selling.
I wonder why the drilling on Tau quit just a few meters from their target, I wonder why the insurance money is not spent to return to the site and drill, and I wonder why their offices remain open.
Lots of questions, and yet remain a wee bit hopeful with a young man's imagination.
But I won't sell. I may even buy.
I do appreciate y'all, you Tbags, and the NordOilguy, and Spec, especially "Mrs." Smith, and of course, for her upbeat music, Byurwherevergirl.
One of my imaginations is that when Tau and Canoe spill forth, we will all meet in a venue on Memorial near the West Loop.
WTI hugs onto the upper $70’s like a comfort zone
Anti-globalist and anti leftist parties are winning elections abroad as social normality succumbs to the results of failed social engineering
GulfSlope sits in the corner, ready to groove
But no music comes from the regulatory bureaucracy
And no dance partner showing any happy feet …. yet
I’m doing my part to keep fossil fuel demand strong and I will humbly admit that my gallons of fuel/fish ratio could use some improvement
Time and tide….
Cheers
spec
I think as a group we are a pretty good-sized group, but I don’t believe we would be a majority holder.
I wonder how much of the company the members of this board own? diamond hands here!!!! LOL
No one is selling that’s a little bit of a surprise.
Another NT 10-Q filed
No 10-Q due to no $$
Heavier sigh …..
spec
Dead quiet on the board and the tape
Crickets ….
Can’t remember many days on any stocks that had <$1 in dollar volume unless it was zero trades
Brandon has one foot out the door and the other one on a banana peel, no signs of improvement in any geopolitical matters
WTI has crept back up to high $70’s on a day of broad declines in the markets
Heavy sigh ….
spec
I’m still keeping tabs on everything but my trading in general has taken a back seat to several other projects and pursuits
Another side factor is that for the past several months I’ve rarely spent any significant amount of time in my office, my time on a computer other than my phone has been zero this week except one earnings conference call that I was on
When the tide finally turns on this current insanity regarding domestic energy policy and/or GulfSlope awakens from its slumber, I will almost certainly be in “4-alarm fire mode”
I still think there’s a glowing ember there and the DNA of the organization is good, always has been a great mix of capabilities and serious business minds
In comparison, most microcaps are contaminated with dreamers, snake oil salesmen, and well intentioned, but ill-prepared newbies
Nothing in life is guaranteed, especially in volatile times and distorted markets
But I’ll accept the risk with GulfSlope
Hero or Zero
This board has some really capable and interesting participants
Unfortunately, for now, there’s not much besides the ongoing battle for and against domestic energy to comment on
Eventually that will change
Hopefully soon we’ll see a restart and definitive direction for GulfSlope
Fortunately, I have some speckled trout and red drum in my crosshairs to keep me amused
Weather permitting, of course
Cheers
spec
Spec why so quite no thoughts?
Ha! This cracked me up. Well played
I think I was to surprised a real person answered the phone and a verry chatty person as well. The number is on the website if you want to try it.
Still signs of operations…
Stock up 28.5% today…
Some good laughs in our message board…
As good of a day as I could expect here on a casual Monday in February.
You should have told her it was an emergency. We are all dying here.
Something else I should have thought of. I did call their number last night fully expecting to get a recording. To my surprise a real person answered. it was an answering service. Th voice on the line identified the line as Golfslope then asked if this was an emergency. The whole call surprised me. When I told her it wasn't an emergency, she provided me with an email address at Gulfslope. I did email the address no reply yet.
Now we are talking! LOL
Clerk at jail: “Sorry sir we don’t accept your pennies to bail out your internet friend.”
Me: “no I said penny stocks”
Maybe someone can borrow a uniform from J-Bar-M Barbecue and deliver an order
Take a couple extra plates to “tip” the building’s doorman, receptionist, security….
A gopro body cam, a good line of BS, and a smile
“Yeah, I got a delivery for suite xxx , supposed to be a surprise from Carol …. uhhh, can’t read the last name …..”
I got the tab if someone wants to try
spec
LOL mine as well donate them to a good cause at this point!
Jezz more than likely the entire board would have to donate if we are going to use GSPE shares
Hahahahha just make sure the courts accept GSPE stock as payment.
Do you intend to send bail money if I go back?
LOL just pull up your phone and say “I am here to represent this thread…” would have been worth the story. There is always next time!
Why didn't I think of that ☹️
Did you inform security that you were there on behalf of the investorhub GSPE message board? That should have done the trick lol
No, I couldn't get into the building without a badge. That wasn't a big surprise. I've worked in several buildings that required a badge to enter Although I tried. I started to get some attention from security. I even tried to go through the parking garage. So, I can report nothing of interest. It was just kind of my science project while I was in Houston.
Punxsutawney Phil didn’t see his shadow yesterday so Spring should be early this year
That said, it feels like GulfSlope is still dragging butt until someone cracks open the checkbook for some investment in GOM exploration (or currently operating properties)
There are a few possible funding entities like Quantum Capital Partners that invest directly into this type of project
Direct M&A is also a potential route besides Delek as a duet partner (they certainly have the capital to fund another drilling program)
The parts and pieces are all there, it just takes the willingness to accept the risk/reward spread that is presented
There’s no question that a shift in sentiment for GOM oil and gas is upon us
All that is needed is the leverage to pry the heavy boot of regulatory abuse off the neck of domestic energy production
When that happens, it’ll be like a champagne cork popping
I look forward to that and I am certain it is coming
Cheers
spec
Did you ever see the office @noroilguy1? Sorry I don’t have DMs in here so asking publicly.
Thanks, I did
Great info, thanks for posting that
The latest magazine (winter 2024) has a pretty good article with a section about the policy issues currently hindering GOM upstream
A link to the main NAPE website
https://napeexpo.com/
The magazine can be reached through the main menu, the section on current policy/permitting that I referenced is at page 57-58
WTI still upper $70’s, situation continues to deteriorate in the Middle East, ESG investments are post peak, Cushing crude inventories are low
Not a peep from GulfSlope so even with a strengthening bid there’s no volume and no urgency to slap the ASK
Current situation leaves a lot to be desired but I am still optimistic that there is a lot brighter future and a pathway to get there
Cheers
spec
Next week is the NAPE conference, hopefully the CEO is mingling and rubbing elbows.
Miracles can happen! ElCheepo commented and GSPE went up 10% the following day! Let’s gooooooo!!!!
.0011 is the highest we have traded at in some time!
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