GulfSlope Energy Inc (GSPE)

[Gspex]

I just checked the BOEM data as of March 11th. The good news is that applications to drill new wells are being approved in around 2 to 2 1/2 months. However, there weren’t any applications listed for Gulfslope. Guess they are still getting the application packages put together, which is a complicated process. Among other things they have to provide the BOEM with any proprietary data that was used to evaluate the prospect, so someone at Gulfslope has to determine what that was and get it in the right format to be sent out. Getting up to speed on this stuff after a long period of inactivity can be challenging and time-consuming.

Going back several months, there was only one new well application on the shelf, and it was for a development well. So when Gulfslope starts drilling, they will likely be the only company doing shelf exploration. Talk about a wide-open playing field. Pretty amazing.