GulfSlope Energy Inc (GSPE)

[Gspex]

Don’t worry, I think we see things pretty much the same, and I didn’t take it personally. I just want to emphasize that in my experience, the Gulfslope management is very aware of dilution, and has rejected taking steps that would be dilutive on more than one occasion. Probably a majority of the stock is held by people who are friends or business associates of management. They are very sensitive about hurting investors, who have shown they have faith in Gulfslope, by hitting the value of their shares. I attended the first stockholders meeting when there was a proposal for a reverse stock split on the agenda. It quickly became obvious that that was very unpopular, so the item was tabled. This showed me that the shareholders have a lot of influence with management, and they don’t want to do anything that will piss us off. I know we can’t be absolutely sure that share dilution won’t occur at some point. I am sure, however, that John and the management team are very aware of it, and have been resistant to doing it in the past. Maybe wishful thinking, but there is some past history to go by.