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Whether investing or trading, “Face Value” is often not a reliable strategy. This is likely why several of us comment on the GSPE board.
We offer our best opinions regarding how the things happening can affect the GSPE share price. And although there are moments of light-hearted humor, we do not often participate in the ‘drive by drivel’.
Instead, we spend much time on research attempting to stay informed. And we put effort towards communicating our findings and thoughts in a timely manner. Most days there is at least one post submitted for the scrutiny and comments of other readers.
This is done so readers stay abreast of new developments, and can perhaps better judge what best suits their own needs in these developing circumstances.
And this process helps all of us to have a better awareness of our perceptions, more confidence in our expectations, and trust in our own insights.
All points of view help, and without the involvement and contributions of the readers, this board and our comments would suffer. I believe the more perspectives considered, the better the message becomes.
Sometimes we are right. Sometimes we are not. But this is not the point. The point is that we have the discussion and exchange of ideas. Informed readers can then make up their own minds to discern what a post is, and what it is not.
Your participation makes a difference and adds value. Thank you all for joining in, whether through reading or posting. Please keep it up….
Mrs. Smith
I dislike that it appears as if I approve but, considering the lack of news for GSPE stock, I do understand the low trading volumes.
Also, the seeming strength in the share price indicates that remaining shareholders may be growing immune to the various invitations to sell their shares at a discount.
Images in the crystal ball are again both fuzzy and intermittent, but indeed, a majority of the shareholders appear quite willing to wait it out.
To me, the overall impression is that, until the value of the stock rises to the point that sales do not result in discouraging losses, many shareholders might choose to move forward with GSPE stock and hopes of getting a drilling or production deal together. My perspective exactly.
To them this is a more desirable outcome than making a trade for a meaningless pittance and accepting the loss of principal.
How high will the share price need to rise to turn this around? I cannot in good conscience make a prediction. There is just no way to know with any credible level of certainty.
In my own estimation, based on the value of the proprietary software, the GOM lease, etc., I will say the current share price is still undervalued with room to roam.
I have no clues as to where many shareholders are willing to start trading. Some, such as myself, may even intend to hold out for prices much higher than this. I am trying to come to grips with the presumption that what we are experiencing now may become the new normal until then.
Partner news will easily get GSPE shares over the ‘increased prices’ threshold. Traders really should rally behind this outcome.
Which, as far as I can tell, returns us to the idea of ‘patience and perseverance’. And thoughts of the barrels of black gold at the end.
It has also occurred to me that, with the majority of remaining shareholders on the sidelines, current trades could be trader vs trader….
I find this interesting and look forward to witnessing how that interaction works out. My best guess is these groups are tougher targets than an uninformed investor. So, probably not helping out on either volumes or prices.
No one ever said it would be easy. Or quick.
Mrs. Smith
After completely examining my motives for being a GSPE shareholder, I must admit that I have come to the realization that I am, in fact, a trader.
A support trader. Not one that follows the chart trends, but one that takes a longer term outlook on an investment. This is actually a vital and necessary requirement to being a successful shareholder of a drilling oriented company such as Gulfslope Energy.
The drilling process is often a long and convoluted path. This is true for even the largest of the integrated oil companies. They have many more drilling prospects than they have rigs under contract. Their drilling budgets are well defined and enforced.
So all their prospects are reviewed and prioritized. It is not uncommon for a prospect to take two or three years, or even longer, from concept to having a rig on location.
And this is with organizations having a budget readily available, with rigs on contract, and staffs with the mandate to execute the approved drilling plans.
I have to keep reminding myself of this whenever I start getting impatient. It occurred to me that maybe others could also use a reminder regarding the complicated activities Gulfslope is engaged in. I know this is not news for many of you, but for others, this could be the first drilling experience.
So my message to them is, do not despair. While things appear to be moving forward slowly for Gulfslope, this may not be unexpected for a start up driller, having to raise funds of a significant amount, in a financial market roiled by government interventions and ‘Joe’ economics.
The thing to keep focused on is that oil and gas production is a requirement for our society and for all those in the rest of the world as well. The economic and political outlooks and beliefs do not matter.
Unless they live in such an undeveloped state that they can heat their hut with a wood fire and walk everywhere they need to go, their existence requires fuel for transportation, fuel for manufacturing, fuel for electricity, fuel for food, fuel for heat, and so on.
So, regardless of the political will of some, the demand will not diminish any time soon. It is but a matter of time before our turn comes.
Fuel for thought.
Mrs. Smith
Yes. Confidence.
I am confident that the incoherent rhetoric postulating the end of ‘fossil fuels’ is being shown to only be propaganda for the manipulation of the gullible and uninformed.
I am confident that informed, sensible, and wise persons realize that oil and gas is vital for our continued well-being and will support and insist on it being supplied to the marketplace in the volumes required to sustain our civilization.
I am confident that EVs will be shown to be useful mostly as niche transportation for those wealthy persons in dense urban environments rather than for the masses.
I am confident that the economics of EV ownership will be shown to be non-competitive against the internal combustion engines and that they best represent those affluent individuals ability to absorb the additional costs of ownership.
I am confident that ‘climate change’ will be shown to be only the primary tool used for the control of our politics by progressives. And that ‘climate change’ will not be able to withstand the rigorous scrutiny necessary for manipulating future energy policy. It will come to represent the effluent politics of the opposition.
I am confident that Gulfslope will find the right deal to move the drilling vision, as well as the purchasing of existing production, forward.
I am confident that Gulfslope will be successful in the pursuit of oil accumulations in the shallow GOM and will thrive to the point of being a mainstream independent producer.
I am confident that my biggest regret as a Gulfslope shareholder will be my inability to find more shares to buy at these low-ball prices as the competition is great for the limited number available.
Yes, confidence. That is what enables me to stand firm with my convictions in the face of these not-so-insurmountable obstacles. And I do put my money where my mouth is. So I join with the other shareholders of that 1.27 billion shares.
Good word choice, spec. ‘Applause’.
Mrs. Smith
Much appreciated.
Live Long and Prosper. ‘V’
Remember to celebrate it each day, not just on March 26th.
Mrs. Smith
I am very thankful for the overall strength of the oil and gas industry. It is undeniable that they have managed to withstand the assault from the Joe administration. This is what companies with competent leadership can achieve and accomplish. And at the very least, I expect they will continue to hold firm.
No matter how hard Joe tries to sweep the oil and gas industry under the rug, sanity and reality will not allow it. To say nothing of the requirement presented by the demand for petroleum products.
FYI, his 2024 federal budget allocation to the BOEM for ‘Oil and Gas Development’ finally had a substantial increase of around 20% since 2021. I was not surprised to see Oil and Gas Development once again receiving more dollars than Renewables. Why? Because that is what reasonable and prudent citizens expect and demand. As bad as things might seem right now, try to envision what would be going on in your world if petroleum was suddenly unavailable. And Joe and his boys know it, in spite of the rhetoric they use.
I am hopeful bipartisan victories will continue to be achieved in both Houses of Congress. And remember, one way to apply pressure is through the ‘purse strings’. Spending, or more accurately reduced budgets, will be how to tame certain partisan activities that are in the way of the country moving forward.
The BOEM may hold as many as (3) GOM oil and gas lease sales in 2023. The (2) Biden stalled 2022 GOM lease sales, 259 and 261 from the 2017-2022 National Oil and Gas Leasing Program are now scheduled for the end of March and September of this year. Then there is the (1) scheduled 2023 GOM OCS lease sale, 262 from the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program.
Ecstasy is the emotion I will exhibit if Gulfslope can participate in at least ‘one’ lease sale this year.
Mrs. Smith
Today (3/14/2023), House Majority Leader Steve Scalise (R-La.) introduced H.R. 1, the Lower Energy Costs Act, along with Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-Wash.), Natural Resources Committee Chair Bruce Westerman (R-Ark.), and Transportation and Infrastructure Committee Chair Sam Graves (R-Mo.) as original co-sponsors, to tackle the energy crisis caused by President Biden’s disastrous policies. The bill will be considered on the House Floor in the last week of March.
https://www.majorityleader.gov/uploadedfiles/hr_1_overview.pdf
The Lower Energy Costs Act restores American energy independence by:
* Increasing domestic energy production
* Reforming the permitting process for all industries
* Reversing anti-energy policies advanced by the Biden Administration
* Streamlining energy infrastructure and exports
* Boosting the production and processing of critical minerals
“For the last two years, President Biden and his extremist friends in Washington have waged a war on American energy, and hard-working families across the country are paying the price. Gas and utility costs have skyrocketed to record highs, with the average American paying over 40 percent more for gas at the pump since President Biden took office. Voters gave Republicans the majority in Congress to stop this radical anti-American energy agenda, and to take action that will lower prices, and House Republicans listened. I am proud to introduce today H.R. 1, the Lower Energy Costs Act, to cut red tape and increase energy production here at home so we can lower energy costs and stop our dependence on hostile foreign countries for our energy and minerals. With today’s introduction of the Lower Energy Costs Act, we will show the country how to end the war on American energy, become energy independent again, and lower costs for hard-working families who are struggling under the weight of President Biden’s radical agenda.
“I want to thank Speaker Kevin McCarthy and Chairs Cathy McMorris Rodgers, Bruce Westerman, and Sam Graves for joining me in bringing the Lower Energy Costs Act to the House Floor, and I look forward to its passage,” said Majority Leader Steve Scalise.
"Last Congress, House Republicans established our Energy, Climate, and Conservation Task Force to develop energy policies that meet the real needs of our constituents and our country. H.R. 1, The Lower Energy Costs Act, is a culmination of that promise. This bill counters President Biden’s attack on our domestic energy, and includes permitting reforms that will speed construction for major infrastructure projects across the country. I commend Majority Leader Steve Scalise, Chairs Cathy McMorris Rodgers, Bruce Westerman, and Sam Graves, as well as every member who spent the past 18 months dedicated to lowering energy costs for American consumers. Because of those efforts, we now have a bill that will grow our economy, strengthen our national security, and ensure clean, affordable, American energy can power the world,” said Speaker Kevin McCarthy.
“From the gas station to the grocery store, President Biden’s war on energy is making life unaffordable for the hardworking people of this country and forcing us to be dangerously reliant on supply chains controlled by the Chinese Communist Party. We must reverse course. H.R. 1 boosts energy production, lifts regulatory burdens for the construction of more energy infrastructure, cuts China out of our critical materials supply chains, and lowers costs across the board. All of this will ensure we build a better and more secure future in America,” said Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers.
"Energy security is national security. Republicans are delivering on our promises to the American people by unleashing the full power of our energy and minerals, cutting permitting delays, creating jobs, growing our economy, and dealing a blow to China and Russia. At long last, H.R. 1 will give Americans the tools to tap into our resources and build stronger, more resilient communities than ever before. When families no longer have to worry about how they'll afford to fill up their gas tanks or turn on a light switch, they have the necessary breathing room to invest in our economy. I believe our best years as a country are still ahead, but we won't get there by taking a backseat and outsourcing an ever-growing demand for natural resources to our foreign adversaries. We are taking back control, putting America first and unlocking access to the cleanest, safest energy production the world has ever seen," said House Committee on Natural Resources Chairman Bruce Westerman.
“Addressing America’s ongoing energy crisis is one of the most important actions this Congress can take. The last thing we need is to be dependent on foreign energy, especially when we can produce and distribute energy here in the United States and maintain our environmental standards at the same time. This legislation will prevent federal water regulations from being hijacked and weaponized to block important energy projects, and I’m proud to have the Transportation and Infrastructure Committee’s work included as part of H.R. 1’s commonsense and comprehensive approach to solidifying our energy independence,” said Transportation and Infrastructure Committee Chairman Sam Graves.
WASHINGTON, March 14, 2023 — American Petroleum Institute (API) President and CEO Mike Sommers and North America’s Building Trades Unions (NABTU) President Sean McGarvey issued the following statement on the Biden administration’s decision to approve the Willow MDP Project:
"We commend the Biden administration for approving the Willow Project and for supporting the over 1,600 family-sustaining union jobs this project is expected to provide. The approval of critical energy infrastructure investments like Willow is essential to strengthening U.S. energy security and creating new economic opportunities across the country. Our organizations appreciate the support shown by the President to safeguard national energy security while securing middle class sustaining employment opportunities that will drive our country forward as we transition to a sustainable future derived from our vast energy resources."
The labor and oil and natural gas industries have united to be a healthy and thriving part of the 21st century of the American economy. Recognizing the importance of providing innovative and affordable access to energy is vital to the American People and the Nation. As part of the American tradition of building and growth in the industrial base, we understand the importance of the strong relationship between labor and the companies that will harvest the wealth of untapped oil and natural gas resources. The two million skilled workers of the American oil and gas industry are part of diverse economic communities across the country by protecting this crucial American resource.
Working together we can protect and promote job growth and be part of the economic future of America. Coming together we will address issues facing American workers in the oil and gas industry and throughout the economic base by enhancing economic development of the oil and natural gas industry, working together on public policy decisions affecting job retention and growth and educating the public on the importance of our economic impact on communities across the country.
The hey, you say. And not even close. Quite enough money, but could use more time. Since I am not a ‘trader’, I mostly do this just for the intellectual stimulation, and if I make a couple of bucks, that is okay too.
Do not misunderstand. I own enough shares that, if oil is discovered by Gulfslope, I will be very happy. But I am curious, what motivates you to be here?
From your statements on GSPE stock, it seems you have a very negative opinion of the stock, the company, the management, and the shareholders.
All of which begs the question, “why even bother?” After all, if “it is over, nothing here folks”, then why work so hard to get more involved in GSPE’s business?
This is the essence of the question on my mind, and although I expect evasion and not answers, I wanted to put that question in to the record.
Do you see any serious effort to purchase large volumes of GSPE stock at a discount before an anticipated run-up in price occurs?
If getting ‘back in’ at a low-ball discount is an objective, then I am loving that it must be done 100k shares (or fewer) at a time. Sweat equity! Work that ask off! Earn that prize! Talk about borked! And that should put a limit to it.
So no stress here. As the curtain is going ‘UP’ on Act 2 of this show, which is evidently just beginning, and not ending, I am wondering if the curtain is only following the stock price? Does that make sense, or suspense! Dud-de-Dum-Dum.
And make no mistake, some tactics may not gel with GSPE stock anyway. It appears to be protected by the Whales. There are 1.27 billion shares outstanding. And not many shares trade. The Whales have them locked up. How much damage can be done with 100k (or less) share trades? This is the reason many of us swim with the whales, making their hold even tighter.
The chaotic cause will not be helped out. Probably why they did it. Since whales control enough shares, the price is of minimal importance at this point in time, so they can ignore it. They are content to let raiders of the last ask play around some, while they focus on the end-game where the pay-out awaits.
It is difficult to threaten the Whales. Realize they feed on minnows at will. Besides, as long as the Whales stand firm, not much will happen. Perhaps not until the share price increases about 100% from where it is now. Then things can heat up some.
Allow me to propose taking an interest in ‘whale watching’. I have found it to be quite interesting. Others may too. Whales realize the money in this stock will come from drilling. All are welcome to take the ride. Or not. It is a choice. Does not matter to the outcome either way.
I will say this once more in case it was missed the last time. “It is simply a matter of scale. And our level of scale simply does not matter”. At least, not that much. A trade at .0078? Less than the price of a pinch of salt to a whale.
Could be hard to get a stake of an interestingly large volume at a discount. By paying a premium, and acting soon, it ‘might’ be possible to get it around .01 or so, and that can be a generous pay out down the road. A little patience and perseverance is all that is needed. And some cash.
Just a little analysis for our readers. I do not mind taking time for them. My pleasure.
Mrs. Smith
One should not lose sight of investments that have the potential to pay huge returns and dividends. Like oil and gas. Like Gulfslope Energy.
The interview on Cavuto reveals that ‘Woke’ investing was a big contributor to the failure of the bank.
The message was that, when investing with the focus on climate change, ESG, and renewable energy rather than shareholder value, then not only could returns on the investment not be realized, but the investment itself may be settled for pennies on the dollar when it all collapses.
And on top of that, it appears that some bank officers ‘cashed out’ by selling off their stock before the collapse. And if they get away with it, a sad state of affairs for the only losers, those shareholders.
The moral to this story is that if your funds are an investment, not a ‘contribution to a cause’, and management is not supporting the interest of the shareholders as it’s first priority, then ‘Get Out!’ while the getting is still good.
Politically motivated investing for purely ideological reasons risks a lower rate of return and in extreme cases, gross loss of principal. Perhaps that is why BlackRock, Vanguard, and State Street are all abandoning ESG investing. They have seen the handwriting.
Look at Russia and China. Even much of Europe and the UK. Is this the standard of living you find appealing? Three generation households with six to a room are common. No, I am not talking about the ‘fat cats’. But the typical productive worker trapped in such a society. No wonder the world beats a path to our door. Opportunity draws them here.
The progressive vision may be to bring the less fortunate up to parity with ‘equity’, but the consequence of this approach will actually be to bring everyone down to the level where no one has anything. That is, unless you are employed by the government and are the beneficiary of their gracious good will.
The non-productive can never reach parity with the productive without harming efficiency and reducing output. It is a skill issue and that is what must be addressed. Teach them to read and do basic math. To be on time at work. Pass a drug test. Then they have the opportunity for a better life.
Since there is no initiative to work for the same wages as paid to those who do not work, many workers will allow someone else to carry the load.
The result? No one does enough. Lower output. Poorer quality. Lower standard of living. It has never worked. Anywhere. Anytime.
The ‘equity’ of this action will be that no one has anything. Except ‘fat cats’ skimming off the top.
Please notice that, without the wealth produced by the most productive elements of our society, there would be nothing to redistribute. A case of the parasite killing the host? Exactly. And that is the problem with equity. How will it be paid for with no wealth? That is why it always fails.
So, Joe’s executive order to allow pension funds the option to purchase ESG investments has been blocked by both Houses of Congress, and absent his veto, we are spared for now.
But recognize the jeopardy these socialists in government can put all of us in by simply changing investment rules (ERISA) to allow willing bureaucrats to invest your money to further their political ambitions rather than your financial goals. This will not be the last act in this play.
Best to stay informed.
Mrs. Smith.
I was happy to see the share price showing strength. I was also pleased that the volume appears to be returning. If this trend continues, the momentum will have a positive effect on both the price and the volume.
For the record, I never believed there would be an analysis. Because the premise is not supported by the FACTS.
Continuing the search for useful ‘nuggets’ that will provide FACTS to guide our future expectations.
By the way, I do recall a LOI, but I cannot recollect the name of the privately held company. Since there is no public data it might be hard to track down. V-ger might be your best chance. Sorry I could not be of more help.
Cheerio.
Mrs. Smith
A quality post! Much appreciated. With my distraction behind me, I will refocus.
Mrs. Smith
You aim a lot of derogatory statements at GSPE stock. But, I never once have observed any coherent argument with facts or data to support your position and point of view.
Why is that? Is it because there is actually nothing of substance behind what is being said? If not up to the challenge, then just Discard the Discord and Chaos before regrouping. Perhaps this is the part of the show that is over.
So share that Petroleum Engineer expertise. Surely you have the clue, at least you try to sound like you do. So let us review the evidence. It is not really that hard. At least not for those that drill for a living. We will wait. Dude, do not turn out to be a dud.
This is just a request for clarification regarding the statements that you post. Please organize and present the arguments on GSPE stock that you wish for us to consider and take seriously, if there are any. So, once again, put up, or ‘not’. Which is it to be?
Take all the time you need. And like I already said, “we will wait”. But until you can justify those statements, I pronounce them to be of not much use and of limited interest. I will not heed them, nor will many others at this board.
This is a different game, and although you are not a whale, you are being watched.
Mrs. Smith
The GOM rig count fell by 1 rig this week, but is still up by 33% from this same time a year ago. So the Industry predictions regarding a significant uptick in GOM drilling for 2023 appear to be accurate and coming to fruition.
Other oil and gas Annual forecasts are scheduled for this month. I am particularly interested in the U.S. EIA’s 2023 Annual Energy Outlook and OPEC’s 2023 World Oil Outlook.
WTI is up slightly to $80.75/bbl. Due to tightness in supply and increasing demand from China, we should probably expect crude prices to rise even further.
More later.
Mrs. Smith
An old joke about Biden drilling for oil….
Joe is drilling in the ice for oil when he hears a voice call out from above,
“There is no oil under the ice.”
Joe looks up but doesn't see anyone. He asks - ‘can I at least drill and see for myself?’
The answer is in a louder tone,
“There is No Oil under the ice!”
Joe looks up and still can't see anyone. He thinks to himself - maybe I'm just hearing voices as he continues drilling.
The voice bellows louder than ever,
“There is No Oil under the ice!!!”
Joe begins to tremble as he asks - ‘who speaks to me?’
“I am the owner of the hockey rink.”
Joe should just let Gulfslope handle the drilling.
Mrs. Smith
Peeking out of the shadows for a few moments.
From my perspective, the ‘challenge’ to GSPE shareholders is in the volume, not the price. The company however may prefer a higher share price because it reduces the potential costs of securing partners and financing. On Friday, we got a taste of both. And it tasted good.
Low volumes (whether buys or sells), and the prices that accompany them, are mostly meaningless in the overall scale, scope, and scheme of a company with 1.27 billion shares outstanding. But they do still have negative impacts by deterring interest from new investors.
Low volumes are bad for everyone, and low prices are not favorable for creating investor interest either. This is undesirable because, without actively participating investors, traders are reduced to ‘chipping’ away at each other. Recognize that investors are more critical to the future of the stock than traders. You decide if there is a benefit to driving them away. Or to damaging the stock.
Since many low volume trades are sacrificial moves meant to lower the share price, they are destined to lose money. The preferred trade is one of ‘fewer shares = less loss’. This results in even less interest from new investors. Show of Hands, which of us engages in this to LOSE money on purpose? Anyone???
Is this a rational strategy for ethical traders to embrace? The math simply does not work for making MONEY if measuring profit by counting dollars. Is the point of doing this for dollars, or to count minor trading victories?
All shareholders have different reasons for owning this stock. But none of us bought it for the outstanding earnings and financial performance.
I personally own it due to the potential for an explosion in the share price when oil is discovered. It will positively shake things up…. G-!!!!!-A-!!!!!-I-!!!!!-N.
Meetings, discussions, and interested people? An absolute probability. I may be talking to the wrong crowd or situated in the wrong location, but I have personally heard no ‘buzz’. Yet. Among traders I wonder if our buzz is focused on the correct topics to pique or hold the interest of an investor?
And be assured, I share my own buzz. “More (shares) is Better!” and so forth. So do I get partial credit?
Also, management is full-time beating the bushes for a partner. Just as many appointments as they can set up and as often as they can. Trust in it.
These people will also have contacts with others. So the word gets out. Among them, there is likely to be some with money enough to take personal positions. Especially when it appears the stock price might be strengthening.
These partner discussions are happening. So, wait for an announcement. We should then see .02 with no sweat. Drilling begins at +.04. You know the rest….
Please note…. If these low volume, low demand gyrations become the prevalent trend with GSPE stock, they might eventually kill our ride due to lack of interest. It will be difficult to jump-start and get going again. So we will then need to sit and wait. Or walk….
Yes, ‘challenge’ is the right word.
In conclusion, just a fun little ‘ditty’ set to the theme song from an old TV western re-run with Clint Eastwood (see link):
Churning, Churning, Churning….. Keep those shares a-churning….. Stir it up! Shake it up! Spit it out! Skim it off! Slap that Ask!... And keep going, going, going… on, and on, and ‘oh-oh’….. Sorry.
But I do find the use of a whip interesting to get volumes moving. Perhaps we could refer to it as ‘whipping the ask’, lol.
Much appreciated. My sincere ‘Thank You’ for the support and well wishes. I will be back before you know it.
In my absence, remember the Mantra, Many More shares Matters Most!
Up, up and away. Leaving on my beautiful GSPE balloon.
Mrs. Smith
I may be MIA for a while. Not sure yet, but likely. So keep an eye out for el Mucho Lurko in case he has a question.
Spec will be fine without my presence. I will be back as soon as possible.
Until then,
Mrs. Smith
My Perception was that the Participant’s Performance was conducted Professionaly while Palavering about Popular energy Policies, and they did not disrespect the Platform. They seemed knowledgeable and I did not hear anything too objectionable. But it was +2 hours long.
One of the key points made is that between now and 2050 natural gas will stay a critical component of U.S. energy.
Super Yikes! Now we are cooking with GAS. The molecules of US energy independence. From GOM production too, I trust. So bring it on and drill Tau 2.
Mrs. Smith
A January 26th Roundtable on American Energy Security by the Energy and Commerce Subcommittee on Energy, Climate, & Grid Security.
A video of your government in action. Enlightening throughout.
‘On the road to a healthier offshore industry’, released January 23, 2023.
https://www.workboat.com/viewpoints/on-the-road-to-a-healthier-offshore-industry
Excerpt:
“Barclays’ 38th annual E&P Spending Survey calls for a healthy onshore spending increase with an upside bias, but importantly they see offshore spending increasing at twice 2022’s rate of increase (24% vs. 12%). This should be welcomed news for offshore contract drillers and their support providers, especially as producers are stepping up deepwater drilling in addition to more shallow-water work. Hunting elephant oil deposits in deepwater is becoming a higher priority for producers assessing long-term global oil industry supply/demand dynamics and their production profiles, especially as the prolific U.S. oil shale basins offer limited growth opportunities.”
Mrs.Smith
A quote by Secretary of Energy Jennifer Granholm on January 23, 2023.
“Yeah, so, first, with respect to LNG, we know that our liquefied natural gas exports have been a significant help to our allies.”
“And it’s an important — it’s very important to make sure that they have the means. We are fortunate in that we have an abundance, obviously, of natural gas in this country. Our prices are low. But during times of challenge, we want to help our allies as well.”
“We want to make sure it’s the cleanest natural gas, which is one of the reasons why the Inflation — excuse me — the Bipartisan Infrastructure Law really invested in carbon capture strategies and storage strategies.” (Inflation? Was that a Freudian slip?)
“So, that’s an ongoing issue and an ongoing conversation we’re having with industry…. Unquote.
Below is a link to an EIA article titled, ‘Pipeline projects announce to expand Permian natural gas capacity’.
https://www.eia.gov/todayinenergy/detail.php?id=53319#
Mrs. Smith
While investing, one may rarely get to ‘beyond a reasonable doubt’, but we can still make good decisions by following the ‘preponderance of the evidence’ rule. If you look closely, the power and strength of these stock moves is towards higher prices.
We might soon have new folks attending our party. From the totals at some popular sites, there are about twice as many following GSPE now as was following it several months ago. Just thought that observation might be of significance to some.
Whale watching is turning out to be more interesting than was expected. Feels more secure too. This might be the sweet spot. I will wait it out from here.
“… I am just sittin’ on the stock every day, waitin’ time ……” (Otis Redding lyrics paraphrased).
Mrs. Smith
The 118th Congressional Bill, H.R. 22 (Protecting America’s Strategic Petroleum Reserve from China Act) has been passed by the House. An update.
“NJ Democrat, Frank Palone said he plans to take advantage of the open rule to offer as an amendment a measure he sponsored that would create an ‘Economic Petroleum Reserve’, through which the Energy Department would purchase oil at a low price and sell when prices are high to address high pump prices.”
Palone failed to move his Congressional Bill, H.R. 8989, (The establishment of an Economic Petroleum Reserve) beyond the ‘Introduction’ stage in the 117th Congress under Pelosi’s control. So basically he still wants to sell the Strategic Petroleum Reserves to China at will (using the ‘waiver’ clause in H.R. 8989). Good luck with all this gibberish in the 118th Congress. Thankful for House Rs.
The first flaw I see with his plan is, that in order to be successful, you first need low prices. By the way, at today’s prices, Joe will not even refill the Strategic Petroleum Reserve (SPR) with the 266 million barrels he now owes it. The second flaw is that Palone is somewhat vague about how the profits will be used. This portion of his plan needs to be further developed before it can even be considered.
Some Ds would love to split the Strategic Petroleum Reserves in to two categories, the (SPR) and the (EPR). Again, good luck with that. Sanctimonious, Slippery little Suckers. Got to watch these guys, they are trying to both control the price AND create another revenue stream to fund their liberal agenda. Neither of which promotes national security in time of crisis.
Mrs. Smith
My crystal ball is leaving me with the perception that the stock price should ‘stabilize’ between .007 and .01…..
Trading activity could slow due to reduced volume. The stock might come under pressure from manipulations trying to push the price lower.
The silver lining is this will be an opportunity to purchase shares at a reduced cost. But, unfortunately, not much volume to take advantage of.
So ‘dirt bids’ will likely not be tested. With the limited shares available to be purchased, it will be ‘first come, first served’.
Once again, there is no Path to remarkable levels of Personal Profit following that Plan. You can hold me to it.
As in the past, there are many that intend to hold their positions and perhaps add more shares. But buying is not so much dependent on the price. Depends on the volume.
Expect that higher share volumes will cost a premium. But some will get more shares anyway, before any news breaks. This may be the time for ‘better early than late’.
But please note, I advise no one to sell, to buy, or take actions of any kind. Caveat emptor.
Still waiting for the show to start. And I wish I knew the starting time. That would make it all much easier.
Mrs. Smith
By the way, I failed to mention that there are (10) GOM lease sales proposed in the latest 5 year BOEM lease plan.
See links for details:
https://www.boem.gov/sites/default/files/documents/oil-gas-energy/national-program/2023-2028_Proposed%20Program_July2022.pdf
https://www.boem.gov/oil-gas-energy/national-program/national-ocs-oil-and-gas-leasing-program-2023-2028
Mrs. Smith
I find solace in the expectation that the BOEM may hold as many as (3) GOM oil and gas lease sales in 2023. The (2) Biden stalled 2022 GOM lease sales, 259 and 261 from the 2017-2022 National Oil and Gas Leasing Program are now scheduled for the end of March and September of this year. Then there is the (1) scheduled 2023 GOM OCS lease sale, 262 from the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program. This is how we will be able to determine if the administration will comply with the law and uphold it’s duty to the country to ensure the energy supply is secure.
I was not surprised that there was only “one” bid for the December 2022 Cook Inlet (offshore Alaska) lease sale, since the last BOEM Cook Inlet lease sale was back in June of 2017. By the way, the BOEM only has (1) other scheduled Cook Inlet lease sale, 267 on the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program, which is in 2026.
For now, it is a good thing Gulfslope is focused on the purchase of oil and gas production rather than on the purchase of oil and gas leases. Reminder, U.S. crude oil production (million barrels per day) was 11.25 in 2021 and 11.86 in 2022. The EIA forecast U.S. crude oil production (million barrels per day) to be 12.41 and 12.8 in 2023 and 2024, respectively.
So, the trend is with us, and I am holding on to it tightly.
Mrs. Smith
Well looking at the bio of the new Director of the BOEM, I predict that she will fit right in among the other unqualified members of this administration and will also be able to contribute to their incompetence at a high level.
But considering that it is Joe, no surprise that any of the appointments of his appointees would be of any higher caliber than he himself.
Just to refresh our memories, check out this link on the cause and effect of virtue signaling. And so, does this mean the signal is no virtue?
https://www.realclearenergy.org/articles/2023/01/19/the_biden_administration_finally_admits_its_mistake_in_canceling_the_keystone_xl_pipeline_876557.html
Signing off for lunch break.
Mrs. Smith
Well, I miscalculated. There are costs for TWO trades. One for the sale, but also one for the buy. After deducting those costs and the tax, the profit is less than $20…. My entree will cost $28, plus my beverage, and my desert, if I have one (probably not), and the tip. So disappointed. Not worth the effort. Maybe if I can do 200,000….., lol.
Signing off with sadness.
Mrs. Smith
I am thinking of finally trying it out. I am invited to a luncheon on Friday. Tomorrow if I can buy 100,000 shares for 0.0045, I can try to sell for 0.0050 on Wednesday. If successful, my net after tax profit minus my trading fee should pay for my lunch entree ordered off the lunch menu on Friday. I am so excited.
Mrs. Smith
While smelling the smoke, I was thinking the same thing about Gulfslope bidding on a producing GOM property they suspect has some unidentified subsalt potential.
Yes, buy a property that is already producing, do a new seismic survey with those proprietary imaging tools, identify new drilling targets, drill the well(s), and increase production. Maybe by a lot.
I have no information that indicates this is the case, but considering the company’s primary focus and expertise, it does make a lot of sense. I would be very surprised to learn that Gulfslope management had not thought of it.
What an exciting new approach to attracting investment money for future projects as well as for Tau, Corvette, et al, to say nothing of the big bounce in the stock price from the production.
I was also happy about the renewed focus on oil and gas, energy independence, and increasing capex by the new GOP representatives. About time that it is acknowledged there is no realistic path to energy independence through windmills and solar collectors, which cannot be utilized until after the 35th of Nevuary in 2050.
Mrs. Smith
Did you hear that Wyoming is considering the phasing out of sales of electric vehicles by 2035? This is to ensure the stability of the state’s oil and gas industry.
Awesome! How cool is that?
https://www.teslarati.com/wyoming-phase-out-evs-2035/
Mrs. Smith
Yes, I too smell smoke. But it is not the smoke you would smell with Willie or Snoop. The smoke I smell is from the fire that is building under GSPE.
Or, to state it another way, once this company gets rolling, the KEY Element to Wealth will be the number of shares one owns.
Eventually we ‘minnows’ will stop trying to make $0.0005 cents profit per share on a trade and take advantage of this gift of abnormally low prices. Looking forward, one can make the argument that these share purchases below 1 cent are an absolute bargain.
These million GSPE share buys we are seeing tells me there are those out there that are waking up to that idea too, and realize that right now is the best time to buy these shares at rock-bottom prices. ‘Swoosh’ time is definitely approaching, so traders wishing to exit this stock should be getting ready.
And I am suspecting that these shares are being removed from the ‘trading pool’ and will be held on to for the long game to come. This may become a ‘boring’ stock to watch for a time as the share price stabilizes while the company moves forward.
It appears that Gulfslope plans to both buy producing properties and drill new wells. It is a proven fact that many GOM operators will skim the cream off the top of their production, then sell off what is left. It happens on land properties too.
The new company comes in with new ideas, new management, new technology, new drilling plans, lower overhead, and turns everything around, making fortunes in the process. This has happened often in the past. Perhaps history repeats itself here once again with Gulfslope.
A recent example of this is the rumor about Exxon and Denbury Resources. Exxon sold Denbury all their mature East Texas oil assets 25 years ago. At the time, Denbury shares were less than $5. Recently, it was over $100. And now it is rumored that Exxon is interested in buying these properties back once again.
Who can predict how the pendulum swings over time? But it looks like Denbury shareholders should do better than just OK. And GSPE is a much better opportunity, since it is not yet a mature asset, and still has all that growth to undergo.
My 2023 Wealth Plan. Stay the course with GSPE stock and do not be easily influenced to give up my position. Take advantage of these prices offered up by the ‘investing gods’ while they last, and buy even more shares with New Money. Hold on to them. Prosper.
I am a ‘whale watcher’….. And indeed, I am also looking forward to a Happy New Year in 2023.
Mrs. Smith
Fossil fuels will continue to hold the most prominent seat at the energy table.
https://www.forbes.com/sites/roberthart/2023/01/12/outrageous-conflict-of-interest-the-worlds-biggest-climate-summit-just-named-an-oil-exec-to-run-it/?sh=3d1b72445377
While on the subject, the EIA’s latest ‘Monthly Crude Oil and Natural Gas Production’ analysis reflects that the Federal Offshore Gulf of Mexico significantly OUTPACED the national average in crude oil and natural gas production,10% vs 7% (oil) and 13% vs 5% (gas). Many have projected a decade of growth in the oil and gas sector beginning in 2023.
https://www.eia.gov/petroleum/production/#ng-tab
It might also be noted, the Gulf of Mexico (GOM) rig count increased by approximately 19% from the prior week. A great start to the new year.
http://www.dnr.louisiana.gov/assets/TAD/data/drill_weekly/WeeklyRigCountUpdate.pdf
https://www.workboat.com/offshore/louisiana-texas-to-see-increase-in-oil-and-gas-industry-job-opportunities
https://www.naturalgasintel.com/talos-strikes-oil-natural-gas-from-two-discoveries-in-deepwater-gom/
Additional articles of interest.
https://www.api.org/news-policy-and-issues/news/2023/01/12/api-applauds-bipartisan-ferc-approval-of-pipeline-expansion-project
https://www.utilitydive.com/news/ferc-transco-gas-pipeline-new-jersey-bpu-regional-energy/640362/
https://www.naturalgasintel.com/emerging-u-s-pipeline-bottlenecks-cast-shadow-on-otherwise-positive-long-term-outlook-for-natural-gas/
Mrs. Smith
Joe spouts soothing words, but actions show his true intent.
Joe stated he intended to refill the Strategic Petroleum Reserve (SPR) as he depleted it in a political move aimed for the midterm election. Now, it turns out that no oil can be purchased at the price Joe wants to pay. So the SPR has been drained of 266,000,000 barrels of oil and counting, exposing the country to a potentially dire risk.
Way to be consistently “irresponsible”, Joe.
With WTI currently forecast to “average” around $80/bbl in 2023, this administration has stated it has no intention of accepting bids at prices that high, even though prices could go even higher. So the risk to the country continues on unabated and grows with time. And bonus, the salt caverns where the oil was stored are also damaged.
A bit of positive news, the U.S. House in a bipartisan vote (331 to 97) just passed bill ‘H.R. 22’ forbidding future sales of oil from the SPR to China.
Now, if the senate will also pass it and Joe will sign it. Any takers?
https://hotair.com/jazz-shaw/2023/01/09/biden-doe-rejects-bids-to-restock-oil-reserve-n522553
https://www.congress.gov/bill/118th-congress/house-bill/22/text
Mrs. Smith
By the way spec, Louisiana Light Sweet crude (LLS) is still over $80 (lol).
As forecast, integrated oil majors returning to Permian and GOM. Exploration will become a priority in 2023.
https://oilprice.com/Energy/Energy-General/Oil-Majors-Exxon-And-Chevron-Shift-Focus-To-Americas.html
Mrs. Smith
TB7 (aka WL7), you called it! Yes, just a little bit of good news and your recent GSPE share purchases will payoff like a slot machine.
Making a couple of assumptions and doing some math exercises shows that, @ $100/bbl, for every thousand barrels of production per day for an offshore platform, the GSPE stock could rise to as much as 2-1/2 to 3 cents per share.
That is a gross number, without taking out costs and overhead. But still, it is a very healthy return for a cost basis of .0024, .0033, .0055, or even .01.
And while fantasizing, there are three properties under consideration. What if all three make only a thousand barrels per day each? And then the well(s) are drilled. Are we to $2 yet?
So there is the formula for wealth. And do not despair. Even though you did not make $100 for each 100,000 shares traded, by holding your shares while the production plan develops, your net worth is, as you predicted, now ‘unreal’.
And bonus, each time we go through a period of good news, the cycle repeats. The difference is that each time, instead of making $100, we are making $100,000, and perhaps much more as it is cumulative. And more shares equals higher wealth.
That is the moral to the story. And most people miss it, because they do not stick around for the finale. That is the approach used by the whales and the reason why oil is called ‘black gold’. And just because Joe wants everyone to drive EVs is not going to change it.
Yes, we are more likely to get good news than not. And if you happen to get caught ‘out of the stock’ on days the news breaks, there is also a formula to calculate the amount of money you do not make. And buying back in again? Costly.
Follow the money.
Mrs. Smith
Okay. In that case, with your permission, we will fondly refer to you as ‘whale-light7’.
Mrs. Smith
‘Dude’ you are going to be reclassified as a ‘whale’ if you keep that up!
I am not trying to hog the board. Had some spare time, so I am giving spec the morning off if he wants it.
Mrs. Smith