Firstly I think you all (and I) have done quite thorough DD on Gulfslope and we all feel that we have a fair handle on the fundamentals, the risks and indeed the potential.The risks are clearly in the name "Exploration & Production"-if you explore and do not find and cannot produce you are finished-we all knew this when we invested.But we also saw a highly professional, highly skilled, highly experienced and historically successful management team who have invested considerable amounts of their own money and own 33% of the business.So we like the risk reward.
Secondly-how did they manage to win bids on these highly exciting blocks.You will remember, when they bid back in either 2013 or 14 (I cannot remember exactly)the oil price was sliding fast-there was no capital for juniors and majors were aggressively slashing exploration budgets-we got lucky because we had cash at the time so put in multiple bids and won most of them-alot of people simply did not turn up at auction due to lack of capital-that was lucky for us.
Thirdly on the shorters-I have to agree with Necrow-if you look at GSPE on a quantitive basis alone are the models do-it is going bust.However if you have greater qualitative knowledge-as we do you know that is not the case-unless of course they find nothing.
Let us hold our nerves Gentlemen-we could of course lose everything as you have all acknowledged,but with luck and management skill this could on a 5-6 year view be huge and then we shall meet and sit beneath the palm trees sipping Bollinger and discussing how well our Churchills draw!!
Recent GSPE News
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 02/14/2024 10:16:05 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 12/29/2023 09:21:09 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 08:47:32 PM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM