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“Yes, oil is a volatile commodity prone to swift price swings based on current events. But CEO’s like Wirth of Chevron and Woods of Exxon can’t run their businesses by zigging and zagging with the price of oil. They have to make long-term plans based on what they believe will be the industry’s long-term drivers.”
I expect the above quote to be very similar to Gulfslope Energy’s Business Model and Company Philosophy. Gulfslope Energy’s 2020 Drilling Campaign places them as one of the top Emerging Growrth Companies with a 2020 drilling plan for the GOM OCS GOM Shallow-water.
An Exploration Oil and Gas Find in the GOM Shallow-water by Gulfslope Energy could have a sizable impact on GSPE’s financials and stock price. A Tau-2 well find may also bring a positive International impact to Delek Group, as well as to their financials.
US Shale is starting to decline over the next few years, and experts have said one of the next big finds is not onshore, but Offshore Gulf of Mexico.
The EIA predicts oil demand to grow until 2025 and then plateau until 2040. Demand for natural gas, meanwhile, continues to grow through 2040.
“Simply put, oil and natural gas aren’t going away. A growing global population, notably in developing markets, and increasing global prosperity are key drivers here. There is another factor to consider here, as well. Oil and natural gas are depleting assets. So once a barrel is pulled from the ground, it is gone for good. And oil wells don’t produce forever,” as is the case with US Shale.
“During Exxon’s forth quarter conference call, CEO Darren Woods discussed his choice to keep investing in production growth despite currently low oil prices by explaining to investors that:
We know demand will continue to grow driven by rising population, economic growth, and higher standards of living. We know that excess capacity will shrink, typically faster than people think, and margins will rise. Then, new capacity will be needed. These are the classic price cycles of capital intensive commodity industries.”
Chevron’s CEO Michael Wirth, “We look at a long-term view, really, on supply and demand. And we don’t overlay these shorter-term phenomena into our thinking about price.”
The source below is a good article to read in my opinion, and I included a few excerpts above.
Source: The Motley Fool, titled ‘Chevron CEO: Ignore Short-Term Factors, Focus on Supply and Demand’, by Reuben Gregg Brewers, article dated February 10, 2020
Smith
These are my personal thoughts. Please do not base your investment decisions on any message board posts.
Different type of investor out today! Did you all see the trade at 10:21 am for a total of $0.91 (91cents) for 50 shares.
A 91cent total trade dollar amount dropped GSPE’s market price by almost 5%. Suspect when your trading fees is more than your total trade dollar amount.
Hope they got flagged.
Smith
GSPE’s RUN has just begun!
86% of today’s volume was $.022 or better. Once again, GSPE’s traded volume was above the average volume for the day.
We all know Gulfslope Energy has just kicked-off their 2020 Drilling Campaign, and is far from being over.
Smith
Theses are my personal thoughts. Please do not base your investment decisions off any message board posts.
Markets appear to be rebounding today! The Dow is up 731+.
Three days of GSPE Stock price gains last week. That’s what can happen with an Emerging Growth Company.
During the afternoon on Friday large blocks were being bought up for $.024. (Six) 200k volume orders, (one) 336k, and (one) 409k all at $.024.
Appears not a lot of panic went on with this Emerging Growth Company. Gulfslope’s GRIT and vision apparently has rubbed off on the GSPE shareholder. (Grins)
These are ‘my personal’ thoughts.
Smith
Please ‘do not’ base your investment decisions off any message board posts.
With Gulfslope anticipating the approval of the Tau Prospect’s BOEM/BSEE permits “by late March”, this could permit Gulfslope to secure the Valaris contracted Ensco 102 rig by the 20th of March in preparation of a Tau-2 well drill.
Looking forward to a potential Tau-2 well Spud Date PR real soon.
47% stock price increase today with this ‘Emerging Growth Company’.
Sure glad the EIA has already made corrections to their 2020 Energy Forecasts allowing for the Coronavirus, and the warmer the usual January 2020 weather across the Northern Hemisphere. As always, I am sure the EIA will make updates to their forecasts through out the year. They currently forecast increased crude oil prices for the second half of 2020 through 2021.
Smith
[Sources: Attached February 13, 2020 Valaris Fleet Status Report, Gulfslope’s 2/27/2020 News Release, and the EIA.gov
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
Should GSPE set a 2020 percentage increase record high today, Gulfslope could very well get more positive news coverage by some of the financial websites.
There is an undeniable benefit with being involved in an Emerging Growth Company right now. Observing a slow, steady and strong upward movement.
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
2nd favorite sentence, “ Insurance Proceeds should provide the majority of the funds required to drill a Tau well no. 2 to 21,543’ measured depth (20,000 TVD)”. Personally, I expect Gulfslope Energy to have a plan on how the Tau-2 well will be completely funded.
Per Gulfslope’s PR, the Tau-2 well’s ‘Perspective Intervals’ that are being ‘Targeted’ below salt have been enhanced by the new surface location. Over the past months, Gulfslope’s Team appears to have worked hard and smart affording them the most advantageous Tau-2 well drill plan path.
Interesting fact, there have been 46,000 plus wells successfully drilled in the GOM Shallow-water. It seems Gulfslope’s Got This.
I am very happy and excited to be a small part of an Emerging Growth Company like Gulfslope Energy, and their 2020 Drilling Campaign!
Source: Gulfslope’s 2/27/2020 Press Release
Smith
Theses are my personal thoughts. Please do not base your investment decisions off any message board posts.
”New Surface Location ‘Avoids Issues’ Encountered In The First Well”.
The Tau-2 well’s “new surface location” could allow for a more efficient approach through the gumbo layer too. From what I remember, some sections of gumbo are thicker than others, so the new surface location could be drilling through fewer feet of gumbo this time.
Yes, the Insurers will be financial responsible for getting the Tau-2 well through the Gumbo to a measured depth of 15,254’. (Grins)
Source: Gulfslope’s website, Investors, News Release, February 27, 2020
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
“New Surface Location ‘Avoids Issues’ Encountered In the First Well and Optimizes Below Salt ‘Targeting’ Of The Prospective Intervals.”
For me personally, the above is the most important sentence in today’s Press Release.
From observing the 4.7 million GSPE shares acquired today, I guess we all are feeling pretty good about a Tau-2 well under Gulfslope’s “2020 Drilling Campaign”.
Smith
Source: Gulfslope’s February 27, 2020 Press Release.
spec, thanks for the vessel tracking information. I will look in to that one too.
Smith
Thank you Ryguy008 & spec, my free version of Marinetraffic.com did not recognize Ensco B YP, just the Ensco 68.
Also, the free Marinetraffic.com showed a large Tug and Special Craft image with a hollow middle, and the Ensco 102 rig image was in the hollow circle of the Tug and Special Craft image.
On Monday, it reflected the ‘Wildcat’ Offshore vessel’s path to be on the North side of the Ensco 102 rig, and yesterday on the South side of the Ensco 102 rig. Looking in to purchasing a vessel tracking membership with more detailed maritime information.
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
Activities around the Ensco 102 rig continue today. It is the second day I have noticed the Ensco 102 rig sitting smack-dab-in-the-middle of what shows to be some form of Semi Submersible Heavy Lift vessel. Not 100% certain, but it is registering on the AIS system as a “Tug and Special Craft”.
Yesterday and Monday the ‘Wildcat’ Offshore Supply ship made two trips by the Ensco 102 rig from Port Fourchon.
Yes, Gulfslope’s ”2020 Drilling Campaign” appears to be advancing.
Smith
Theses are my personal thoughts. Please do not base your investment decisions off any message board posts.
Gulfslope’s GOM Shallow-water Prospects Breakeven is <$20/bbl, compared to US Onshore ‘New’ Oil Well’s Breakeven of $50/bbl.
Besides Gulfslope being an Emerging Growth Company, another benefit right now is their less than $20/bbl Breakeven for their Offshore Prospect wells.
With the overseer, EIA forecasting increased crude oil prices for the 2nd half of 2020 through 2021, this could align with Gulfslope’s drilling plan.
Sources:
February 4, 2020 Federal Reserve Bank of Dallas ‘Energy Slide Show’.
May 21, 2019 HoustonChronicle.com and January 6, 2019 Time.com
Gulfslope’s website, Investors, Company Information, Presentations, 9/2019
EIA.gov
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
Gulfslope Energy stated off their last 10K filed about 7 weeks ago, they anticipate “Drilling a well in Early 2020”, and it is only February.
They also stated on their recent 10Q, “the Regulatory Authorities (BOEM/BSEE) have already received the Tau-2 well’s Exploration Plan (EP), and Application for a Permit to Drill (APD).
Gulfslope’s contract with Valaris commences March 20th.
Smith
Please ‘do not’ base your investment decisions off any message board posts.
Just to be clear, the Ensco 68 and Ensco B YP are the same ‘Dredger’ Platform with the same IMO and MMSI identification numbers. The ENSCO 68 is stopped, and it’s AIS data signal has been off for several weeks. The Valaris JU-68 was recently sold and retired from the Valaris fleet.
Valaris’s Ensco 102 Heavy Duty Jackup Rig contracted by Gulfslope has been sending AIS data signals.
Smith
Theses are my personal thoughts. Please do not base your investment decisions off any message board posts.
The March 27th ETA with no destination for the Ensco 102 rig has been out there on those systems even before Gulfslope’s contracted date of March 20th with Valaris. I do not think the March 27th ETA date has anything to do with Gulfslope’s contract with Valaris regarding the Ensco 102 JU rig.
The Ensco 75 and Ensco 68 both have been real close to the Ensco 102. The Ensco 75 has been moved outside of Galveston, and the Ensco 68 appeared to have been moved with it’s AIS off. Possibly cold-stacked.
Smith
BSEE Data Center shows “CERA” on the NEPA Determination Type for the Tau-2 well’s SS 336 G35244 Exploration Plan. One step closer to a BOEM Tau-2 well EP approval date.
Smith
CERA: Cambridge Energy Research Associates of
Source:. BSEE Data Center
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
TypoCorrection:MktMvn has been one of my Top favorite GSPE Contributors to read!
The above is a typo correction for my attached post.
I might not always agree, but MktMvn definitely has some of the best ‘content’ on the GSPE message board.
Thanks again for all your GSPE message board contributions!
Smith
Yes, Gulfslope’s Tau-2 well EP lead-time was only 9 days. I too anticipate the Permit to take a little longer.
Gulfslope actually holds back some of their information from the BOEM and BSEE, like Gulfslope’s proprietary information which they state ‘Proprietary’ on all their Regulatory forms.
Thank you as always for your contributions. For me, you have been one of my fop favorite GSPE contributors to read. (Great content!). Glad you are on your way to your “Defour 460 Grand” 42’ sailboat. (Grins).
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
On 2/22/2020 12:01 am, the BSEE Data Center reports the 2/13/2020 ‘received’ BOEM (EP) Exploration Plan for Gulfslope’s Tau-2 well lease G35244.
On Gulfslope’s 2/14/2020 SEC filing, Gulfslope stated the regulatory authorities, BOEM/BSEE had already received the Tau-2 well’s (EP) Exploration Plan and (APD) Application for the Permit to Drill.
The above is a perfect example on how there is a lead-time on when something is Declassified and reported on by the BSEE Data Center.
There is always ongoing classified communications between the BOEM/BSEE, and the Operators that the public is not privy to until it’s declassified and reported on by the BSEE Data Center.
These are my personal thoughts,
Smith
Source: BSEE Data Center and Gulfslope’s 2/14/2020 SEC Release
Please do not base your investment decisions off any message board posts.
BOEM Received SS 336 Lease G35244 Exploration Plan (EP) Control Number 10106 on 2/13/2020 for bottom and surface lease G35244 for the Tau Prospect.
Smith
Source: BSEE Data Center, Plans Information section, Online Queries category, choose: Exploration and Development Plans, enter: Gulfslope Energy or Company Number 03310
The upside is MktMvn with all these ridiculous bids and asks, you just might be able to get your additional million shares for your 42’ “Defour 460 Grand” ocean-going yacht! Now that’s something to look forward to. :)(Grins)
I too believe like spec they will drill. Reminder, there are classified communications between the BOEM/BSEE and the operators that the public is not privy to until they declassify it, and put it out on the BSEE Data Center. This includes EP’s and APD’s. Gulfslope stated on their recent 10Q the regulatory authority BOEM/BSEE had received the Tau’s EP and APD.
Personally for me, todays share price is not what really matters, what matters is that they make a well in 2020!
GSPE long and STRONG!
Smith
Please do not base your investment decisions off any message board posts.
I will not let them Steal “my” shares from me with those ridiculous low-ball bids and asks!
I am not going to miss out on GSPE’s next Drill.
Spring is near, new beginnings, leaves are already blooming, baby animals getting ready to be born. I am all in, and ready for a GSPE Spring 2020 Drill.
“GSPE Long and Strong baby!”
Smith
A successful manager is one that can talk for 45 minutes, and never say anything. For example, take Bill O’Brien of the Texans football team in a post game interview talking about a Texan football player.
“Yeah, he is a good team player, works hard, getting better every day, ect., ect.”
They never let anyone in on their team’s strategy until they are ready to let everyone know, Hence, the News Releases and the following football game.
A company is usually more detailed in their Q&A session right after their earnings conference call, but never on an email response from the company’s IR. That is just the plain facts of a “public” company. Vague until they are ready for their next “Release”.
We do know Gulfslope stated off their last 10K filed about 7 weeks ago, they were anticipating “Drilling a well in early 2020, and it’s only February 2020. We also know Valaris just contracted the Ensco 102 Heavy Duty Jack-up Rig to Gulfslope.
Finally, we “all” know Individual investors have been more than willing to buy GSPE recently continually bumping them over their average volume for the day.
That’s not because they are having a fish fry coming up, it’s because they are “Drilling a well in early 2020!”
GSPE “Long” and STRONG baby!
Smith
Theses are my personal thoughts. Please do not base your investment decisions off any message board posts.
Louisiana Light $56.87/b up +0.6% as of 2/20/2020 Wholesale Spot Petroleum Price.
The ‘EIA’ Energy Information Administration forecasts the Global Benchmark ‘Brent’ to average $58/b in the first-half of 2020 then increase to an average of $64/b in the second-half of 2020. The EIA forecasts ‘Brent‘ to continue to rise to an average of $68/b in 2021.. ‘Brent’ is the Global Benchmark that is close in price to ‘Louisiana Light Sweet’.
The EIA’s revised February 2020 forecast includes the effects of the Coronavirus and warmer than expected January weather across the Northern Hemisphere.
Gulfslope Energy used the flat-rate pricing of $55/b for the NPV10’s off their September 2019 Presentation.
Crude Oil Inventories as of 2/14/2020 is down 11.6 million barrels from year earlier, and only up .400 million from week earlier.
Source:. Forecasts “solely” the ‘EIA’ Energy Information Administrations, and Gulfslope’s website, Investors, Company Information, Presentations, Choose: September 2019
Smith
Please do not base your investment decisions off any message board posts.
Bid $.0159 and Ask $.02 right now showing on IHub. A perfect example of what I was saying on my “attached” post.
Everyone has the right to set a bid or ask, but Jeez.
We need more volume to offset!
Come on GULFSLOPE PRESS RELEASE!
Smith
I am more concerned with “all” the recent GSPE Small Low-ball Bids that continue to drive the stock price down. There might be GSPE Asks issued, but What about ‘all’ the GSPE Low-ball Bids?
Different forms of Investors trying to purchase a few Low-ball stock all the while obliterating the Company’s market cap, makes no sense to me as a ‘long’ investor.
Yesterday day it was neck and neck on the Bids and Asks, but the day before there were way more Bids.
Hopefully this will stop soon or there will not be any stock to Long or short. But, maybe they just don’t care if it goes to zero they hedged?
Smith
Not a big fan, at all, on investment Shorting.
Yes, look a Mattress Mack, Mr. McIngvale losing a million dollars betting against the Chiefs in the Super Bowl.
Thanks OilerHTX, (Is OilerHTX for the Houston Oilers football team? Grins)
Smith
Could an investor who is “equally” long and short in a company say at 2 cents, when the company’s news is good be limitless $$$$$$$/share, but a Company’s bad news is only worth 2cents/share, so to speak? The investor hedged, so they would be covered either way.
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
Smith
Another 115 shares just traded, which is showing up in the IHub (?Vol) column.
For a whopping $1.89 total dollar trade amount.
I wonder what the trading fee on this order was that took the stock price from $0.017 to $0.01645?
The SEC has a great read on the different forms (i.e. small volume trades totaling less than the trading fee that alter the current market price, or playing multiple accounts) of stock manipulation in OTCQB penny stocks if anyone is bored.
Again. a trade is a trade is a trade no mater what the volume is. Any trade volume can be a possible manipulation.
Wondering what type of Market Maker feels comfortable doing these buys and sell that we “all” have witnessed over the past few months.
One good thing is ‘they’ have software to monitor this type of behavior. Possibly, fining and shutting down a Market Maker, or not allowing individual accounts to buy anymore.
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
A trade is a trade, is a trade no matter what the volume size is.
At 9:56 am eastern time a trade was issued for 100 shares with a total traded volume price of $1.71 (from the ?vol column on Ihub). The trading fee had to be double the $1.71 total traded value on that one. Conveniently it took the “current” market price from $0.0178 to $0.0171.
Hmmmm a “Garage” Market Maker?
It probably would not hurt for some investors to revisit the SEC OTC “rules, regulations, and procedures” regarding the possible appearance of OTC Stock trade manipulation.
Yes, I have been worried about these bizarre buys and sells for some time, no matter what the volume size is.
Again, A trade is a trade is a trade, no mater what the volume size is.
Smith
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
The BOEM GOM 254 Lease Sale is scheduled for March 18, 2020.
Good News! The Corvette lease G35193 is Not listed on the February 10, 2020 BOEM ‘List of Blocks Available For Leasing’ report, Page 237.
One Criteria for BSEE in approving a lease extension is, “if Production would likely occur sooner with the current Lessee than if the tract were re-leased”.
Source: BSEE May 7, 2019 ‘Notice to Lessees and Operators of Federal Oil and Gas Leases in the OCS GOM’, Page 4, 1st Bullet point.
Also, from the May 7, 2019 NTL Doc. BSEE stated “We set the length of the SOP approval based on the circumstances of each individual case.”
The Corvette lease is listed as a “Current” lease in the online BSEE Data Center, and on BSEE’s February 3, 2020, ‘Active Leases by Designated Operator’ PDF report.
Gulfslope stated on page 18 of 30, 4th paragraph of their 12/31/19 10Q, “they are exploring all options contained in the BOEM’s regulatory framework to extend the term of the lease.”
Gulfslope was proactive and recently received an additional 3 year extension on the Tau Lease G36121, whose initial period did not even expire until 10/31/2025. So now it’s new expiration date is 10/31/2028.
Yes, I believe Gulfslope very much values the Corvette Lease, and BSEE’s statutory authority will do what they frequently do by issuing additional time to the SOP.
These are my personal thoughts. Please do not base your investment decisions off any message board posts.
Smith
The EIA forecasts Brent prices will average $64/b during the second half of the year 2020, and will rise to an average of $68/b in 2021. The EIA ‘now’ forecasts Brent prices will average $58/b in the 1st half of 2020, but will rise to $64/b in the second half of 2020.
The EIA’s ‘new’ forecast reflects “both the effects of the coronavirus and warmer-than-normal January temperatures across much of the northern hemisphere”.
Gulfslope used a flat-rate price of $55/b for the NPV10 off their September 2019 Presentation. The break-even price per barrel is less < than $20/b. Brent is a global benchmark which runs close in price to Louisiana Light Sweet (LL).
“The EIA now expects global petroleum and liquid fuels demand will rise by 1.0 million b/d in 2020, and by 1.5 million b/d in 2021.”
“EIA’s global petroleum and liquid fuels supply forecast assumes that the Organization of the Petroleum Exporting Countries (OPEC) will reduce crude oil production by 0.5 million b/d from March through May because of lower expected global oil demand in early 2020. This OPEC reduction is in addition to the cuts announced at the group’s December 2019 meeting.”
“Firmer demand growth as the global economy strengthens and slower supply growth later in the year contribute to forecast inventory draws of 0.1 million b/d in the second half of 2020. EIA expects global liquid fuels inventories will decline by 0.2 million b/d in 2021.”
Source: Forecasts “solely” from EIA.gov, (Energy Information Administration), ‘Short-Term Energy Outlook’ report, and Gulfslope’s website, Investors, Company Information, Presentations, September 2019
Smith
Please do not base your investment decisions off any message board posts.
The 2 cent GSPE bargain price is similar to the pre-Tau-1 well price, before all the Gulfslope and Delek National and Global News and Press Releases.
Smith
Besides possibly finding a more ‘streamlined’ Tau-2 wellbore and casing design over the past 7 months, the following excerpt from the most current June 2019 NSAI report could shed more light on why the drilling depth changed after the Tau-1 well.
“Based on an analysis of the results from the Tau-1 well and based on the reprocessing (2018) of the seismic survey, whose results were received during drilling works at the Tau-1 well, the ’targets’ of the Tau Prospect have been redefined and re-characterized.”
Gulfslope did not make clear if the 21,000’ was TVD or MD on their 12/31/19 10Q, but we all know the 15,254’ is MD due to all the numerous times Gulfslope and Delek stated it on their PR’s and SEC filings.
BSEE reported in November 2019 that most Operators of the GOM Shallow-water fields produced the “most productive layers first” leaving behind too many untapped discovered Reserves and Recoverable Resources in the GOM Shallow-water. A high priority by the BOEM is to help facilitate Operators and Lessees to revisit these fields while the infrastructure is still in place. Similar to the Shale plays in Texas, but offshore. That is why I have a high level of confidence the BSEE/BOEM will extend the Corvette “Initial” SOP for another 213 days (February 1, 2020 through August 31, 2020). The BOEM and BSEE decide the length of an extension by an “individual case” basis.
With any luck, Gulfslope Energy can help redirect interest back into the GOM OCS Shallow-water.
Source: Delek Group website, Investors, Regulatory Filings, July 2019, ‘Tau Drilling Resource Report’, page 7 of 12, number 7., 1st paragraph.
Smith
Please do not base your investment decisions off any message board posts.
The Tau-2 well’s 21,000’ revised drilling depth (roughly 4 miles) could be due to Gulfslope creating a ‘streamlined’ wellbore and casing design after 7 months of predrill operations. This is highly possible.
Since the Tau-1 well, Gulfslope has always press released testing all the Tau Prospect’s BOE potential. In fact, on Delek Group’s last financial results conference call they stated testing “all” the Target layers of a possible Tau-2 well.
At 100% working interest, the Tau Prospect’s 6/2019 Netherland Sewell and Associates, Inc (NSAI) report Recoverable Resources for all the 6 major “Target layers” on the high estimate is 1,325 feet of ‘Net average oil sand layer thickness’, and 681 MMBOE.
At 100% working interest, Gulfslope conservatively estimated the Tau Prospect’s ‘Recoverable Resources’ to be 418 MMBOE with $4.5 billion NPV10. Gulfslope is currently reported to be a 25% working interest partner in the Tau Prospect.
Once Gulfslope successfully drills and completes a Tau-2 GOM Shallow-water well hitting all the “Target Layers”, the National and Global oil and gas News Coverage should be extensive.
These are ‘my personal’ opinions,
Smith
Please do not base your investment decisions off any message board posts.