GulfSlope Energy Inc (GSPE)

[spec machine]

FYI - just a recent status data point that I collected on GSPE upcoming exploration contract

Although the U.S. Gulf of Mexico has an extra supply of jack-up rigs, we've been able to find work in the region with our high-specification rings. The Ralph Coffman, a 240-C class jack-up, recently arrived in the U.S. and is scheduled to work for GulfSlope Energy in early June 2018, while the EXL III has been operating for McMoRan since March, executing a 5-well PMA program that will keep the rig busy through July.

from Rowan conf call on May 2nd
https://finance.yahoo.com/news/edited-transcript-rdc-earnings-conference-224254772.html

The rig had been in Trinidad so I had interest in confirming the relocation on schedule

I have the IMO (8768945) and MMSI for the Ralph Coffman but the rig does not appear on AIS as far as I can tell so I am unable to tell when it arrives on station to spud canoe

I figure there might be a few days of volatility when that is announced and possibly a drift lower in June if it is delayed

It was stated earlier somewhere that the permitting is already in progress but I am unable to confirm it yet through searchable BOEM data

IMO, the first well, Canoe, will probably generate a lot more visibility than it will generate value, in the short term anyway

Either way I'm optimistic that this is a moderate risk long term value play with a sound management structure and plan

spec