Value Microcaps Junior Energy

[Bobwins]

GSPE +.02 to .067

GSPE signed a partner for some of their offshore Gulf of Mexico prospects finally. Energulf Resources, ENG.v, is a tiny Canadian company that recently went thru a merger and changed mgmt. New CEO is a Houston oil guy. Energulf has also hired two consultants who helped found GSPE and Texas South. I assume they have access to Texas oil money because Energulf doesn't have cash. They put down $200K for the first prospect and agreed to share expenses but appear light on paper.

So far, GSPE hasn't PR'd the event so they must be waiting until Energulf pays them more money or raises the needed funds to be credible. Of course GSPE still needs to raise their drilling money, too. Wells are about $2million each to drill so maybe CEO will lend more money to GSPE for their share. CEO was formerly CEO of Anadarko so has personal money.

http://www.digitaljournal.com/pr/2968305

GSPE has gone from .025 last week to as high as .069 today. Could go higher if they PR the signing.