IEA Supply Demand Forecast Latest.png

Agreed

That would be unfortunate if taken too far. Since its creation by the Nixon admin, the EPA has been instrumental in measurablly improving the quality of America's air and water.

In previous cycles, I believe GSPE would have been able to drill by now (just a hunch). This cycle is different with all its political blundering and buffoonery. Good to be in E&Ps that are producing right now. Disclosure: Long BTE, GENGF, MEG and of course GSPE. The same dynamics keeping E&Ps from surging Capex and instead paying down debt, buying back shares and planning for dives is maybe having an effect on the Gulf?. Eventually, this will loosen up due to all the FCF being printed. GSPE could rip way higher than normal when drilling starts due to how incredibly low world inventories are and how far behind the world is on projects. Those two circumstances are not in dispute. :)

10Q does not contain a drilling announcement.

Unlike previous oil cycles, this one has less urgency on the part of producers to get in and start producing at the higher prices due to a variety of constraints and lessons learned at the end of the last cycle. So, this bull is going to run much longer. Positive is we have time. Negative is it may take some time. :)

Lots of hit it out of the park O&G earnings reports coming out. Hopefully that will generate some renewed interest. Its not over til its over. :)

Long:
GXE
BTE
MEG
GSPE

nice pun :)

It's nice to see so many wildly different prognostications from the major banks, oil agencies and hedge funds. i.e Goldman, Raymond James, Morgan Stanley, IEA, House of Saud, etc. to name a few.

Generation of electricity requires about 2 mbpd of the approx 100 mbpd of oil consumed by the world each 24 hrs. So, even if all electricity everywhere was able to switch tomorrow to solar and wind, that would only stop growth in consumption for 18 months at current growth rates. Then china and India would have to stop in their tracks with growth going forward. Of course well decline rates would have to stop all over the world and several other things that defy established physical laws governing oil production. Then, the math works. No problem. :)

The timing could not be better for a drilling announcement / drilling success. The multi-year oil bull has started to run!!

10Q Filing Posted

Recent Developments Section

The Company has been conducting pre-drill operations for the Tau prospect which is anticipated to be re-drilled to a total depth of approximately 21,000 feet. The Exploration
Plan has been filed with and approved by BOEM and the Application for Permit to Drill (“APD”) has been filed with BSEE and is pending approval. The Company plans to
sign a rig contract, and arrange for bonding and insurance in conjunction with the approval of the APD. The Company continues to be active in the evaluation of potential
mergers and producing property acquisitions that it deems to be attractive opportunities. Any such merger or acquisition is likely to be financed through a combination of debt
and equity.

Expect big resistance levels from here to 87. Scary pullbacks are stomach churning but expected especially for this commodity, especially for this time in history.

We could have the best timing ever as drilling results come in just as an oil supercycle starts.

JPM's call on oil supercycle in charts.

They estimate ~3 million b/d of supply deficit by 2025.#OOTT pic.twitter.com/RmW4ERXVRL

— HFI Research (@HFI_Research) April 27, 2021

Gasoline headed down and below 5 yr ave by end of april. Imports slightly down. exports slightly up, refiners responding to lower gasoline inventories going into driving season = bigger draw than expected next week. Looking for -9. Source EIA and GS recent Oil Report.

Thank you very much. For us long time investors, all information is like water in the desert.

The macro view is outstanding:
With continued OPEC+ discipline, world crude inventories will continue to drain > 2mil barrels per day. Add to that increasing demand coming due to re-opening of economies plus pent up demand. Add to that a subdued response compared to the past of shale production due to tightened access to capital and management across the board commitment to paying down debt and increasing stock price.

Its practically impossible for WTI not to cross $70 and stay there for at least two years. Now, just strike pay dirt!!

Somewhat restricting Shale, canceling Keystone and adding to the sentiment that banks are reluctant to fund = supply shortage looming and is great for shallow water. :)

https://www.rystadenergy.com/newsevents/news/press-releases/the-world-will-not-have-enough-oil-to-meet-demand-through-2050-unless-exploration-accelerates/?utm_campaign=&utm_content=&utm_medium=&utm_source=twitter

Drilling activity and E&P must increase to keep up with demand.

Art Berman's recent Tweet shows an amazing amount of reduction in US oil production capacity from off shore, conventional and unconventional now and going forward. He has been one of the more cautious oil analysts. With him turning his view, I think we are closer to a sustained supply deficit. Enormous tailwind possible for GulfSlope in getting partner interest/action.

I am not expecting anything until there is some clarity in the crude market i.e. OECD surplus oil back to within 5 yr average on land and water and demand returning to close to pre-COVID levels. Until then, a lot of decision makers at least in the oil investing world are biding their time. But if those things happen, good things will come to E&P investors. :)

It's frustrating for everyone not to have information to analyze. Perhaps that will change with developments.

Your posts are not adding value and make this forum far less enjoyable. If you have something to add, add it. Keep your pompus crap to yourself.

The shale industry needs to be allowed to fail. Been losing money for a very long time. Shutting in production all over the world due to low price is extremely bullish for oil price next year. Much of the shut in production will not return. Then the conventional declines come. Incredibly great timing for Gulfslope as a low cost producer if they can hit pay dirt soon. Gulfslope problem years ago was timing with oil price collapse hopefully the timing will be excellent this time around. GLTA

I am guessing since this article is from Jan 2015, you are saying GulfSlope has staying power?

Supposedly natural decline rates in conventional will overpower ability to supply sometime in 2022/2023 due to lack of conventional oil project investment. This combined with shale being shutout of financing for the foreseeable future makes the world a bit under supplied in the later part of this decade. From a long term perspective, the current oil price war combined with the corona virus driving down demand / oil price works to our favor even though it delays our rewards because this seals the deal even more on zero money available for drilling investments in shale. I believe this will all lead to higher for longer oil prices once demand comes back and the oil in storage shows positive draws below 5 years average inventory levels. However, I have trouble with the patience part.

My mistake. Different company. Apologies.

Does anyone here have a take on the recently received proxy materials?

I am will continue to be long and strong GSPE. However, too many shares outstanding to get super excited right now.

Most recent filing does not seem to have any significant news.

Thank you very much!

Just so I can rid of my chubby, NPV is not proven right? Just an estimate based on potential in the area?

If this becomes proven reserves, the timing is incredible. US storage figures headed toward 330 mil barrels by end of year which is a multi year low. This will translate to somewhere around $80 WTI. At that point anything that smells like oil will be golden. The current sentiment that the world is awash in oil was true for a few years but not anymore. Perfect.

I have not done the numbers. However, with a few good drilling hits and Brent going to $100 anything could happen including. Cumulative events to take Brent to $100
China Deal
Iran sanctions
Permian Decline / Capital Discipline
War in M East
Conventional Decline Rates
Continuing Draining of world oil reserves including Oil On Water

Watching Gulfslope for 5 years, impressed with this leadership team. Now I just need the stock to go to 5 bucks. :)

"Based on proprietary mapping of reprocessed 3D seismic data coupled with advanced noise suppression technology, the total resource potential in the Tau Prospect is estimated to contain in excess of 300 million barrels of oil equivalent."

Is this as positive as it sounds?

Obtaining additional interest in leases from an "Assignor" to an "Assignee" would be silly of there was not a reason to be interested, no? Or am I reading this wrong?

Also, we do not know if the "assignments" are designated
No Operations
Exploration (probably)
Development

My hope is that Gulfslope is assigning operating rights to Delek, those rights will lead to Exploration then Development of huge proven reserves and then a buyout of Gulfslope shares at $10 per share. :)

Happy Easter

Looks like this "tight hole" protocol/strategy could go on indefinitely?

If I understand correctly, theoretically, if posts were intended to tamp down pricing, it like the implication for future share price. :)