GulfSlope Energy Inc (GSPE)

[Gspex]

I think we’re in agreement on the fundamentals, and why GSPE is a good stock to have. And I don’t disagree that a Tau dry hole will make things more complicated. However, even if Tau doesn’t have enough reserves to justify a development, it could still do a lot to address potential investors’ concerns. Geologists sometimes argue for years about whether a particular well was dry or not. I was responsible for drilling a well in the GOM that BP said was dry. Elf then came in and based on the exact same well information developed a field. So BP’s dry hole was Elf’s discovery. It’s a pretty tricky business. I can visualize scenarios where Tao is technically a dry hole, but the results get Delek excited and they move aggressively to drill another deep prospect. Or the presence of a lot of reservoir sand inspires some of the earlier non-investors to take another look. The incredibly important thing is that we will get a chance to see what’s down there. After that it should get really interesting.
Appreciate the conversation. GSPE is a fascinating exercise.