GulfSlope Energy Inc (GSPE)

[Gspex]

I believe you are exactly right. The conventional, low-hanging fruit is pretty scarce, and not very economically interesting. The point of doing a startup on the shelf was to try something new and huge, rather than the shallow stuff. So, yes, a failure at Canoe shallow would not be significant for the overall portfolio. But it has the advantage of giving a potential quick road to production. Tau will be the first test of the potential elephants, which should be similar to Mars and Thunderhorse and Atlantis, only in much shallower water. Ultimately those have to work to make Gulfslope a success.