GulfSlope Energy Inc (GSPE)

[Gspex]

When I left the industry I don’t believe there was a single exploration well being drilled on the shelf. Deep water activity is also mostly development at this point. So the guys at the BOEM must be spending a lot of time twiddling their thumbs. I can’t imagine that the Gulfslope applications won’t get the highest priority treatment. As far as how long it will take - Canoe is very simple and they will have seen a ton of that type of well proposal over the years. I will defer to Mr. Seitz on what the average wait is. But my point is that I can’t believe the average wait these days isn’t half what it has been historically. A couple of months turnaround wouldn’t be surprising, at least for Canoe. Tau is a little more complicated technically and will get more perusal. But there is development going on constantly that involves Tau type wells, so there won’t be anything groundbreaking that would hold things up. At a guess the permits might be in place early to mid June. Drilling would begin a within a few weeks. Going to be an exciting summer.