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Good news coming out of GOM...discovery was sub salt and drilled to 23,000 ft.
Hope this grabs the attention of big money.
https://www.google.com/amp/s/www.rigzone.com/news/oil_discovery_made_in_us_gulf_of_mexico-19-jan-2021-164371-article/%3famp
I think Smith199 should be able to confirm if I’m right.
I thought they voted that any potential reverse split would not be more than 1: 200.
I like to check once in a while to see if any new institutions bought Gulfslope. Looks like Captrust bought a fresh 210k. Institutional ownership is quietly almost at 500k.
This mean anything to anyone??
https://fintel.io/sob/us/gspe
I’ve been patient just as long as anyone else on this board, but maybe it’s best that we don’t discover oil in these next few months due to current market conditions. If GSPE announced a discovery what the heck would impact be on SP??
Iran being between a rock and a hard place may change the outlook on oil and exploration of it as well.
https://www.washingtonexaminer.com/opinion/iran-will-lash-out-over-oil-price-collapse
Meeting is cancelled...
China will definitely be buying more oil after we move on from Coronavirus...
https://www.zerohedge.com/energy/china-takes-axe-alternative-energy-funding-slashing-subsidies-solar-and-wind
Unfortunately I just learned that Clint Moore passed away. Seems that Clint was a strong believer in this GOM play based on the many papers he wrote. GSPE certainly did lose one of the best. Condolences to his wife and family.
https://thetexan.news/clint-moore-republican-party-of-texas-giant-dies-at-63/
Well said Smith...also wanted to share this piece of news. Seitz himself giving a presentation on “Exploration Courage.”
https://2019.gcagshouston.com/all-convention-luncheon/
I think it is a good sign that another company is exploring off the coast of Louisiana...
http://www.offshore-mag.com/articles/2017/05/otto-energy-raises-cash-for-oil-project-in-the-gulf-of-mexico.html
I did feel that that the interviewer wanted the mic back also haha.
We all know it takes a lot of $$$ to bring a mine into production. You can go to the bank for a loan but you'll get pummelled by the terms. If Canarc can prove up FG property and /or AIM properties, sell them and receive the type of return they received for El Compas, then I think they would be in great position to buy property in Mexico and develop a mine with costs denominated in Peso.
It seems to me like this is the plan. Rather than get buried under a mountain of debt with a loan from the bank, what other choice does a junior explorer have? They flipped El Compas for a 500% return in 9 months. Let's see what they can get for FG and Fondaway Canyon.
Weekend listening pleasure...
Doing a little research and apparently there was competition for recently acquired Nevada properties. The Fondaway project seems to have been coveted.
https://www.nzx.com/companies/AOR/announcements/297799
I think the problem now is that the Permian is getting all the "love." I think GSPE will have to wait for Permian bubble to burst.
http://oilprice.com/Energy/Oil-Prices/Wall-Street-Pouring-Money-Back-Into-Oil-And-Gas.html
The only news I was able to discern on my own is that the VP of Engineering and Development, Brady Rodgers, is no longer with the company. He's been removed from the website.
Looks like he moved on to become CEO of a company named Focus Oil. I guess with no investment in their property and thus no drilling, there is little need for a VP of Engineering.
I think investment is going to go both ways with foreign companies looking for exposure in the West. There will now be a pro-energy environment in the White House.
http://oilprice.com/Energy/Energy-General/How-Tillerson-Could-Fuel-A-Russian-Arctic-Drilling-Boom.html
Two things that bother me though,
1) there has been no y/e communication to shareholders as there usually is and
2) VP of engineering, Brady Rodgers has left GSPE
Will GSPE be doing the year end investor call as they held last year? I would appreciate hearing their thoughts for upcoming year.
Saudis are feeling the pain. Sooner or later oil will have to rebound to at least a $75-$80 level which will attract attention to GSPE.
http://www.zerohedge.com/news/2016-11-08/feeling-oil-crunch-saudi-arabia-cancels-266-billion-projects
Thanks Trip
Hi Phil,
It looks like Energulf decided not to make the 400k investment in GSPE properties, hence no news of a deal.
http://www.energulf.com/2016/06/energulf-makes-payment-for-gulf-of-mexico-selectron-shallow-prospect/
Here is an interview conducted with Steve St Angelo. First part deals with energy and the second half deals with precious metals.
What I don't think a lot of investors understand is the amount of debt in the energy sector. This needs to be flushed out before major capex can begin again. Patience is key here as well as trust in management. I will certainly remain long and strong in GSPE.
Interesting interview here. Encouraging to hear from an expert that just because there is a surplus now, does not mean there will be a surplus 3-5 years from now. That being said projects that can come online in a short period of time (like GSPE property) will play an important role in the intermediate future.
I was really pleased to see that Ron Bain presented at this conference. It shows me that GSPE is not sitting on their hands but instead are getting their story out. Some heavy hitters included in this agenda, consisting of public and private companies.
http://louisianaenergyconference.com/html/agenda.html
Phil, is the recent filing which indicates J Askew sold 16m shares "at market" good news or bad news? I'm trying to figure out what we can interpret from this filing.
Eventually the USD will come back to earth, shale producers will go bankrupt, and China as well as other developing southeast Asian countries will come out of the current deflationary period. Then GSPE will begin to pay off.
Buying at this price, with this management team is a great opportunity. "Love when everyone else hates!"
In addition, thinking about 2-3 years down the road, the article below is very encouraging because it tells me that shale plays won't even begin to get going again until a baseline of $60 has been clearly identified. At $60 GSPE can do some serious damage!
http://www.bloomberg.com/news/articles/2016-02-10/oil-explorers-can-t-turn-on-light-switch-to-boost-output-eog
I think this article, which summarises that 2016 guidance of Continental Resources, offers a more rational perspective of the current oil price and where it may be heading in 2H16 or early 2017 as compared to the doom and gloom opinion mainstream media attempts to foster. Often times the mainstream media will tag along and help build the waves of negative sentiment, but be late to the ballpark when the tide starts to turn.
http://oilprice.com/Energy/Crude-Oil/Continental-Resources-2016-Guidance-Oil-Price-Impact.html
As for GSPE I see a management team that has produced in all types of commodity environments and who has "skin in the game," I.e. Insiders own 45% outstanding. Be patient and don't let your confidence waver in management or your original investment thesis.