GulfSlope Energy Inc (GSPE)

[Gspex]

Once Gulfslope has a discovery or two, and especially if they are getting ready to produce hydrocarbons, then we will own stock in a legitimate enterprise, rather than a potential one. That’s a whole new ballgame. At that point Gulfslope will actually start showing up as a legitimate investment opportunity in an oil exploration company with great growth potential. That is, something an institutional investor would be interested in.
IMO that is the point where concerns about dilution or RSS and uplisting will become relevant. Mr. Seitz appears to be positioning the company to have flexibility to act appropriately in the future. He doesn’t have to do anything, even if he has approval to. If he has decided to personally provide some or all of the drilling funds, then, of course, he will want more interest in return. Hence issuing more shares. Owning Gulfslope is not like owning Exxon. We all believe that Gulfslope has tremendous potential, but it’s a matter of faith or gut feel, rather than an analysis of the financial data. The only critical factors right now are whether wells get drilled and what they find. A few dry holes and it won’t matter if there are one or 3 billion shares.