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I just checked the BOEM website for the Tau blocks, in the hope that I would be able to find some well data. Alas, there is nothing there. Even if something was posted, it would probably be necessary to get someone who is currently working the GoM to download the info for us. I don’t know who that would be, but if we have anyone following GulfSlope who has access to GoM well database stuff, let me know. I used GomSmart software a couple of years ago, but I don’t know if that is still available. It isn’t a big deal, but I was looking forward to sharing some of the well results with interested parties. Also, there was no application for permission to drill, but that just means they don’t have a rig lined up yet, which isn’t a surprise. Very disappointing.
One time when I was talking to Clint Moore he pointed out that everyone he knew in the Houston oil business (and he knew pretty much everybody in the industry had a piece of GulfSlope. John Seitz’ vision appealed to a lot of folks, and they all were anxious for him to succeed. The fact that he is still striving and hasn’t declared bankruptcy and gone away is duly noted. So I think any moves on the part of GulfSlope to gear up for a second Tau well would set off a lot of interest in the industry. The grapevine will be humming. That is undoubtedly how we will hear anything before any official pronouncements. GulfSlope could swear everyone to secrecy, but there are so many interested parties in so many aspects of the business that the word would be out instantly. Don’t know if that is what is going on with the recent buying surge, but it wouldn’t surprise me.
People don’t realize how great the oil companies have it in the GoM. Most places I worked during my exploration career had basic royalty rates of 75% and higher. When I worked Qatar for BP, the rate was 90%. So you had to spend all of the money to explore, drill wells, put in infrastructure and if you were lucky you got to keep 10% of what you produced. If you had negotiated a good deal, you could sometimes get reimbursed for your exploration and production expenditures, but more than once the country which owned the leases just refused to abide by the contract terms. It made trying to do profitability analysis next to impossible. I worked on one project offshore Africa where an American company had spent hundreds of millions, and it looked like it would never be profitable, because they couldn’t get the country to pay the royalties that had been agreed to. You don’t have to worry about any of that stuff in US waters. Which makes it even more puzzling why GulfSlope is, apparently, having trouble finding partners. The extremely low royalty rate and strong legal protections in the GoM make it about the easiest place in the world to make good money, once you find a field.
I originally paid 12 cents, but bought a ton, and have my basis down to around 2 cents. I think most of the GulfSlope investors are probably in that area. So we are all well-positioned if any kind of drilling news bumps the price. Or if the price gets pumped artificially. So the question then is do you hang on until the company has proven reserves or even oil production and make the big killing. I hope I have to make that decision.
Interesting scenario, and I don’t know what I would do. What if the GulfSlope shorters draw some interest from Reddit types and the Redditers try to pull another short squeeze. Could boost the SP to the point where a lot of us would have to consider selling out, but that defeats the real purpose of hanging on to GSPE. Something to think about. I think the metrics of GSPE lend themselves to this sort of action - a small group with a modest investment could make the stock do whatever they wanted to. Be interesting to see if anybody tries it. Guess GulfSlope is too small to really be prey to this.
The oil game really is fascinating - like a big treasure hunt, with lots of high technology, and the ultimate drama of waiting to find out if you’ve struck it rich. If Tau-2 is a discovery it will be one of the most significant finds in decades and will set off another renaissance in the Gulf. You won’t ever find another company with the combination of tiny size and huge potential. It looks like some kind of penny stock shenanigan, but Gulfslope is legit, their prospects are world class, and they do everything by the book. A lot of people take a look and just decide it can’t be anything worthwhile. But if the company can just get that second well down I’m betting the oil world will sit up and take notice. If GulfSlope was some kind of fraud they would have closed up shop and left town years ago. It is legit, John Seitz is a serious businessman and stockholders have a lot of good things to anticipate. Thanks for the kind words. I will keep explaining the issues as I have time and people’s interest continues.
If I truly explained the details I would have to write pages of explanation and find or draft illustrations. That is a ton of work, and I don’t know if it would be useful for board participants. I’m not saying it would be too much to understand. It’s just pretty far afield from what this board is supposed to be about. I appreciate the interest shown by readers here. I just don’t want to overwhelm people with detail that is highly technical and maybe not too relevant. The point is that what happened with Tao-1 is common, well understood, and can be avoided. The geologic conditions in the shallow GoM are very difficult, but can be handled safely and efficiently by a properly configured rig.
You go to the government (BOEM, Bureau of Ocean Energy Management) website for the offshore Gulf of Mexico. It’s a bit difficult to navigate, and I confess, since I am no longer working, it would take me a while to find anything. I will give it a try soon and see what I can find. There should be images of the logs that anyone can look at. All of the logs were taken while drilling, rather than by stand-alone logging runs, so they aren’t that great. But they should give a lot of information. There will also be the digits from the logging tools, but you generally need some software to handle those. There should also be records of daily reports that were sent in to them. I’ll let everyone know what’s there when I figure it out for myself. If you don’t have a background in O&G exploration, it will be hard to figure out what the files represent.
In the US GoM, logs have to be released two years after the well is completed. I can’t remember exactly when Tau-1 was finished, but I think the logs should be released soon. Then the entire industry will know what happened there. Could have interesting consequences.
Yes, in most cases high pressure is associated with salt water. It has to do with reservoir rocks (sandstones) extending into high pressure in the deeper parts of depositional basins. The subject is pretty complicated. Too much I’m afraid for this board.
The Tau hole is not useable. After all of the problems it is just a total mess. Plus, with the information gained from the first well there may be a better location to drill into the prospect. I know the geos were looking into that, but I don’t know what they decided. The best way to be cheap on Tau-2 is to do everything right and get the well down rapidly with minimal problems.
Thanks. Glad they are appreciated.
It is, as you say, a method of “managing” the drilling fluid pressure, so that it is as close as possible to the pressure in the subsurface. Using heavy minerals to raise the weight of the drilling fluid is too crude, and results in a lack of pressure balance. Depending on which way the imbalance goes, you either lose drilling fluid to the subsurface, or have the subsurface flow to the surface (a “blowout”). So pressure balance is critical. Tao-1 lost a ton of drilling fluid and eventually suffered a blowout, so it experienced both ends of the imbalance. This is a problem that can be solved with the right technology - as long as you have it on the rig.
Yes, I was one of the interpreters who figured out the location of the hydrocarbon traps, and made maps of how they are structured in the subsurface. Those maps tell you the right location to drill. Tao was mapped by one of the original GulfSlope geophysicists. He left in 2016, so another guy used his work to plan the first well. There was data reprocessing along the way that further refined the prospect. I had a hand in that. Tao really was a joint effort, over many years. As of last year the prospect maps were still being revised by a new team using the results from the Tao-1 well.
The Tau-1 rig was not set up right for drilling the shallow section. They couldn’t handle the large amount of gumbo, and ended up just casing it off, and the casing program then was seriously compromised. Then when at total depth they were sitting directly above what I believe (based on the pressure profile they saw at the bottom) is a large oil accumulation, they had used up all of the slack they had in terms of handling problems and lost the well. So the second try absolutely must have a different rig setup. Specifically, they need to have the equipment on board to handle high pressure drilling. This equipment is available, but probably will have to be added to the existing rig equipment prior to mobilizing. Clint Moore wanted to use this high pressure setup on Tau-1 but was overruled. Hopefully this time they will use it. The mud system on Tau-1 was also not ideal, which exaccerbated the gumbo problem. The good news is they know all of this from Tau-1, and can make the required changes on the re-drill. I haven’t looked at the rig situation in the GoM, but it makes sense that there would be a lot of rigs available. I don’t think that will be at all a problem. Getting Delek on board, and lining up another partner with big bucks are the big challenges. Even if they can’t get additional funding, I am convinced that Delek is still in the picture because they still believe in the play concept. I don’t believe they will let the Tau leases expire without another well. They may wait until the leases are on fumes, but I believe they will eventually drill another well, even without a new partner. It would be very foolish at this point to dump a position in GSPE - it wouldn’t pay anything because of the low SP. And sticking around til the 2nd well is down costs nothing, but will pay off bigtime.
Best thing for you would be to sell every share of GulfSlope you might own, then go away and leave us to our delusion. Don’t worry we’ll be fine.
I know, I am really bad about the visuals. I will try to find something Tau related with a picture or two.
I’m afraid if they had plans to drill this year they would be far along in the process. We would have heard about a drilling rig contract, and then about approval of the drilling permit. Hasn’t happened. It is possible that Delek is anxious to capitalize on the near-miss of Tau-1 and will foot the entire bill for the second well. But it is much more likely that they will want a third partner to share the risk of another expensive well (not a likely occurence but possible). So, in that case, we would also have heard about a new partner. GulfSlope would publicize the hell out of that, so we know it hasn’t happened yet. It kills me to say it, but earliest the well could get started would probably be first or second quarter of next year. Like I said - if you aren’t a patient investor, then this stock will drive you crazy. But the reward will be worth the wait.
I can’t get into the geologic details of what caused all of the problems with Tau-1. A major part of the problem was that technical issues with the mud system and the way the drill rig was set up resulted in constantly having to slow down or stop to let things stabilize before further progress was possible. In several cases it wouldn’t stabilize, and it was necessary to back up and redrill hole sections. The shallow section of the hole should have taken a few weeks to drill, but because they were having to fight problems constantly, it instead took several months. This was a financial and technical disaster, and also led to a lot of frustration and disagreements on the part of the partners as to how exactly to proceed.
The technical drilling problems are very common and something that all GoM operators have to deal with. But they were particularly bad at Tau. The good news is that the solution is well-known, and was actually considered at Tau, but was eventually rejected because it would have been very expensive and might have meant changing rigs. Tau-2, given all of the info from the first well on pressures and formation properties, should be very much easier. There is a good chance that it will be drilled according to plan and on budget. It could be fairly expensive given the specialized drilling system that will be required. But in no way would it be expected to be as expensive as Tau-1, which went way over budget due to the drilling difficulties.
The answer to that is very complicated and I don’t really have the space here to go into all of it. The biggest thing is a widespread belief among shelf explorers that there won’t be reservoir in the subsalt on the shelf. It is nothing more than prejudice, based on a poor understanding of salt tectonics. But it is a huge obstacle to overcome. Tau actually had some good sandstones and certainly Mahogany has a ton. So why companies persist in believing there is a huge reservoir risk in the subsalt play is a mystery. There has also been a big issue with the subsalt imaging. We made a lot of headway on that - to the point that we could somewhat convincingly map a number of prospects. But it was never possible to get really good imaging, largely because the input data was not up to the task. New data is really critical to moving the subsalt imaging forward.
It was very frustrating for us when we were trying to get companies interested in the GulfSlope portfolio. We spent years talking to every conceivable potential partner. Just could never convince any company, until Delek, that the story was true. Then Tau failed for non-geologic reasons and that became another negative that has to be explained. GulfSlope has really busted their butts to make the case for giant subsalt fields on the shelf, but has never been able to overcome industry skepticism. One big discovery would make the sales job easy. But tragically Tau was stopped just short, and so the frustration continues.
Things in the GoM are really in flux right now with everything that is going on. It may be that company priorities and risk tolerances are changing. There might be new players showing up who haven’t already made up their minds about the GulfSlope play. I think there is reason for optimism. But patience will still be required. The only thing that would really be a death knell for GulfSlope would be if John Seitz quit fighting. I see no evidence that that has or will happen.
There is at least one more very large prospect, maybe the biggest that GulfSlope has in their inventory, that we leased in the last GoM lease sale. Clint Moore was responsible for talking John Seitz and Delek into putting some minimum bids on a couple of blocks and we won them. So that is another follow-on opportunity after Tau and Corvette, and GulfSlope has the leases covering it. It will require acquisition of new 3D seismic data, and some expensive digital processing, to be drill-ready. But if Tao is successful, or a deep-pockets investor joins up, there will be money to get that data and process it. And there will be time as well, since the leases are brand new. The upside for GulfSlope if they can just get wells drilled, is like nothing else in the oil industry. That is why I will never sell my stock. My heirs will inherit it!
Economists have been making the point for many years that hydrocarbons are an irreplaceable resource, and that it is basically stupid to just burn them up. The rational way to use them is to make products like plastics, and then recycle them, so that you get to use that limited resource for a long time to come. Once you turn it into exhaust it’s gone forever. Yes, there will be a place for oil and gas in the future. Just not as a fuel. Anyone investing in oil and gas needs to acknowledge at least that the O&G role in society will be changing. The point I was making, since this is the GulfSlope board, is that the time horizon for us to exploit Tau etc. is plenty long enough to extract literally billions of dollars, no matter what happens in the greater oil and gas industry. And that is why you own GulfSlope stock.
To be fair- price increases this year have been driven by OPEC+ and post-Covid (we wished) economic recovery. The US government has nowhere near the influence on fuel prices that the big oil producers in the Middle East have. Swing oil in the US is from tight sands production on mostly private leases. The GoM doesn’t factor into it as much. Gulfslope’s leases are legally binding, and we will get the opportunity to drill them. If Tau and Corvette both come in, that will be enough for GulfSlope to worry about for the next 20 years. We just have to bag one or both of those, and further leasing will become unimportant.
Approval of a drilling permit would be contingent on GulfSlope having a rig under contract. Which will be contingent on having all of the funding lined up and confirmed. Lot of shoes yet to drop. But at least the intent to drill seems firm.
Thanks, spec. Very interesting as usual. I didn’t appreciate the nuances of the various ways to put together a company. Not surprising that it is pretty complicated.
All the talk of a SPAC is ironic, if you know that that is the method that was used to create GulfSlope in 2013. Seitz and his team found a company that made novelty items (no lie), and had regularly filed all of its paperwork, so that it was on good terms with the SEC, but it had gone bankrupt. Seitz and company bought the husk, with its good paper trail, and created a new entity called GulfSlope Energy from the remains. It even had the element of using a merger, so the SPAC technique is nothing new. Savvy business people knew about it at least that far back. It’s just being used for deals now that are a lot bigger. Don’t know how having arisen from the SPAC process would affect Gulfslope’s ability to do it again. Presumably since they would be doing a new merger it would freshen things up and make it possible. One thing is for sure - Seitz won’t have any qualms about the process since he has already used it in the very beginning of his company.
I haven’t been associated with the company since shortly after Clint Moore’s untimely death, so I have no hint of any proprietary information any more. I know no more nor less than any of you about the current state of GulfSlope. I do know the history, however, and I know the prospects, because some of them are mine. Specifically Corvette, which I am dying to see drilled. I know this because I was one of the original 12 or so employees that helped get GulfSlope off the ground. I will have to set down the whole interesting story one of these days.
Ron Bain who was President of GulfSlope from 2013 until 2019 is in his 70’s and very unlikely to be still active with new companies. He was pretty much retired from Anadarko when John Seitz talked him into joining in the GulfSlope startup effort. My recollection is that John had to twist his arm pretty hard because Ron and John had done an earlier startup in the North Sea that ended badly, and Ron was wary of doing another one. Anyway, I think the Ron Bain from GulfSlope is out of the oil game for good. That Ron was a geophysicist, and never had anything to do with accounting.
I love it when an 8 100ths of a cent move can be described as a “hot” trend. That’s an 8, 4 places to the right of the decimal in dollar terms. Amazon this is not. But the percentage is a little perky. I wish to hell we had some news that would get our SP at least to one place to the right of the decimal. Patience, patience.
As far as the 2019 reprocessing - it did clear up the prospect image rather nicely. So it was a good thing to do, and it will have value in terms of prospect image and ties between the prospect and nearby deep wells. To a potential partner that is critical. But the area of coverage is so small that if you aren’t interested in Tau, the value is nil. A Tau-2 well is really necessary to get GulfSlope off dead-center.
Certainly a development at Tau would quickly involve consideration of subsea tie-backs. Probably not possible to reach the far reservoirs from a single platform. And this isn’t a big deal these days - subsea completions are perfected technology. The shallow water will also help. Using the existing platform at Corvette would not be a viable option, except for the development of the shallow discovery that Anadarko found in the 90’s. There are only two slots remaining on the Rooster platform that haven’t been used. And the production facilities would be massively undersized for a big field. But here again, in shallow water you can do everything with platforms rather than floating stuff, and that makes it very easy and comparatively cheap. If either field comes in it won’t be any problem making a ton of profit. The economics are out of this world. And the technology required is all much simpler than for the deep water.
In answer to your recent question?
From a usual development standpoint, there is only a single platform set over the field, and they mount a drill rig on that platform to drill the production wells, and possibly water flood wells. The easiest and cheapest development occurs when the wells are near vertical for most of their length, and then are curved relatively deep to get to the locations where the oil is accessed. Since the Tau “ribbon closure” is spread out for miles along the salt boundary, the wells have to be more horizontal, which can easily double the length and cost of the wells. Corvette is shaped more like a bullseye, so the development wells will all be within a few thousand feet of each other and the platform. These days production technology gives developers more options, so maybe it isn’t so much of a problem. But the more wellbore and equipment is involved the higher the cost. And as the costs go up, the economic viabilityof the project dwindles. Suffice it to say that the development geologists will be much happier with the simple Corvette plan, vs. the more complicated Tau plan. But if they are as big as we think, it may be just a minor issue. I once came up with a well plan on an exploration well that involved an S shaped well bore. In the meeting where we were deciding how to drill the well the drilling engineers were quiet, which worried me. So I asked them, is this going to be possible? Their reply was, if you give us enough money, we’ll get you where you want to go. Which earned me a dirty look from my boss. With drilling, you always want to keep it as simple as possible. Drillers can work Miracles, but you don’t want to be asking them to do miracles.
Good points. I was just reporting what I knew. Exploration people are pretty contemptuous of trying to make buying production an economic process. Finding oil of your own is by far the better way to go.
On another point - yes it’s true that the big boys are slowing down or stopping exploration. If Tao is a big discovery, it will be one of the last to be developed and produced. But the replacement energy to run the world is not going to be online for 20 years in the best case. So there will still be a need for Tau’s oil, and all of it should be produced over a 15 or 20 year lifespan of the field. At some point in the next ? years it will be too late, and finding oil will just be a waste, because there will be no use for it. So Tau and Corvette are kind of the last hoorah. GulfSlope will have plenty to do for enough years to make it all worthwhile. But they won’t be a viable company for the long haul, unless they find something else to do.
Thanks, Trip. GulfSlope has pursued a lot of production deals in the GoM over the last few years. I know this from talking to some of the guys that were trying to put the deals together. My guess is that they are trying to get a steady income so that they will be less dependent on bringing in financing. They may be trying to take advantage of “deals”, companies that have suffered during Covid. Delek also for a while was bidding on big projects like pieces of major deep-water fields. If they find a good deal, they will presumably go to a bank and get financing. They can use the production for equity and to make the payments. It could be a good deal.
I agree. It’s pretty exciting. There is a ton of money on the sidelines, looking for a good place to go. I have to think that if NFT’s, of all things, are attracting millions, that oil will eventually get a piece of the pie. GulfSlope has done a good job of telling their story to the standard players. Maybe what will turn things around is some non-traditional funding. There is definitely hope of that. Seitz hasn’t given up, and as long as he is able, he will keep fighting.
I’m sure both GulfSlope and Delek are very interested in bringing in new partners. These deep subsalt wells can be very difficult, as Tau-1 showed, and losses can be substantial. So the companies like to spread the risk out, to lessen the impact of a dry hole. It means being left with less of the reserves, but in the case of a discovery on a high-risk, high-reward prospect like Tau, there will be plenty to go around. Spreading the risk is pretty much SOP.
I’ll get to your other questions this weekend.
Continuing:
As far as why Delek preferred Tau over Corvette, IMO it is all due to imaging of the subsalt structure. There are two data sets in the GulfSlope prospecting area that are available for license - an older one from PGS, and a newer one from TGS. I worked with seismic from both of those, and the TGS, being more modern, was quite a bit better. GulfSlope worked with TGS to reprocess their data when TGS upgraded the processing a few years ago. I know that the most recent data showed Tau pretty clearly- actually remarkably well for a subsalt prospect.
Corvette was covered by only the older PGS data, and the subsalt imaging was pretty bad. I have to assume that GulfSlope has done their own proprietary reprocessing over Corvette and has a much better image. The large anticlinal feature (dome) is indicated on even the poor data, and in fact was drilled to a shallow depth by Anadarko. But when I looked at it, the data wasn’t good enough to risk a deep, expensive well on. I assume Delek wants to see a better image before moving on Corvette. That would be my concern, certainly. Improving the imaging could be expensive, because it might involve acquiring new seismic data.
As far as the salt and gumbo issue, that is a really complicated one. And it is most relevant, because I think it was undoubtedly the cause of all of the drilling problems on Tau-1. I will address that when I get some more time.
Great questions - you’ve obviously been around the GOM some. Question on migration timing is complicated, but in general the oil is cooked and moving out of the source rock by early Miocene time. It has to move up through a lot of rock to get to the Tau reservoirs and that can take millions of years. I would say there was oil available at the time the Tau reservoirs were being deposited, but without seismic data I have no idea when the trap formed against the salt. I have only heard of a few good traps, with reservoirs, that have been drilled in the GOM, that were completely dry. Considering that Tau was apparently drilled in a closure, and good sandstones were encountered, it is a bit worrisome. There were no indications of oil in the Tau wellbore, or GulfSlope would have been advertising it when they announced the well results.
There could be a number of reasons for this. I had the opportunity to talk to a geologist who has worked Mahogany in the past. He told me that there was a sealing rock layer over the top of Mahogany, which showed up as a sharp downward break in the formation pressure when they drilled through it. It bit them a few times before they recognized the problem and adjusted the casing to let them get safely through it. We know from GulfSlope that they couldn’t get mud circulation at the very end of the Tau well, which says to me that they hit low pressure, and had too heavy a drilling mud . The hole would have emptied out and from that point they would be screwed. So I suspect that they had just gone through that pressure seal that is present at Mahogany. I have no well information to back that up, so it is pure speculation. But it is at least possible. If that’s what happened, then they were just about to drill into the section that produces at Mahogany. It’s heartbreaking if true, because it was so close. But without drilling another well no-one will ever know. Continued below.
Happy to tell you what I know. Let me know if it is too much.
As you can see, there is a lot involved, and I don’t know to what extent people here are interested. Perhaps Spec you could ask specific questions and I will answer. Hopefully others will find that interesting. I could give an all-day seminar on what it takes to find a partner and get a well drilled, but obviously we aren’t going there. I hope everyone appreciates that Gulfslope pulled off a major coup when they signed up Delek, and got a very significant subsalt well drilled. That was a tremendous feat, extremely difficult and rare. Hopefully Delek will hang on for the rest of the program, and Tau-2 will become a reality. While we wait, if you have questions fire away.
Continuing: Any company wanting to see Gulfslope’s work on a prospect is going to have to sign a confidentiality agreement. This document protects the company from a prospective partner who looks at all of Gulfslope’s information, and then independently uses that to buy leases, with or without their own evaluation. If this were to happen then Gulfslope would have the right to buy into the leases that were acquired using their data. Not a good situation, but at least some protection.
Engineering data - well costs, development cost, planning and timing - is, once again, very much an individual thing for every company. So Gulfslope’s engineers would sketch out the basics, knowing that any prospective partner is going to go back to their office and do it all independently to their own standards.
Tau is a type of structure formed by sediments deposited in a basin being cut-off (truncated) by a huge salt mass. These structures, on the structure maps, are long lateral, but very narrow closures. They are referred to as “ribbon” structures, because that is what the trap looks like on the map. Because they are strung out along the salt boundary, the reserves tend to be spread out. So it takes a lot of wells to get to all of the reserves. Corvette, in my opinion, is an inverted basin or “turtle” structure which is basically a dome. Thus it doesn’t have the spread out closed area, but has everything relatively concentrated in a compact area. Both Tau and Corvette have very thick Miocene sections, so have a long target section. Every sandstone layer within that long target section can be a new deposit, and that is what makes them very large. I say Corvette could be bigger because it has the same target sand section but isn’t spread out.
Continued below.
You are very much on the right track. Mahogany, for now, is going to be the analogue for all of the subsalt prospects on the shelf flex trend. So Gulfslope’s presentation to potential partners would include detailed Mahogany structure maps, using Gulfslope’s reprocessed data, and well cross-sections through Mahogany using all of the released well data. Every potential partner is going to have their own way of determining risks and reserves, so you present your own view in a very basic way, knowing that they will go back to their office and do their own version. If they have their own data over the prospect they will look at their maps and seismic interpretation and compare that to Gulfslope’s. If they are intrigued enough, and don’t have good seismic, they will request the opportunity to send a geologist and geophysicist team back to the Gulfslope office to do an interpretation. Usually they will just request that they can sit at a workstation with the Gulfslope geoscientists and look at seismic in 2D and 3D views with whatever profiles through the data they want to see. Viewing and using gulfslope’s data and any products that are derived from that data gets tricky, because there are strict legal prohibitions against anyone using data without owning the data license for everything used. So, if they are interested enough they might buy a few blocks of the data over the prospect to have something for their own evaluation work. Data licenses in the GoM will cost a minimum of $50000per OCS block, so you would have to be almost sure you are going to invest before taking that step.
Going to have to break this up, because the way this works on my iPad makes it really hard to do long messages.