GulfSlope Energy Inc (GSPE)

[necrow]

They have to raise new capital soon, right? I'm looking through the condensed balance sheet on their last 10Q (for quarter ending December 2017) and they have next to nothing in terms of cash on hand. Has that changed to anyone's knowledge?

Regardless, they need to come up with 300k for drilling Canoe and 3M for drilling Tau afterward. Canoe won't be in production until well after exploration drilling is underway with Tau so they'll still be cash flow negative for quite a while. I'm wondering now if they're hoping good results on Canoe (which is a very realistic stance) bolster the price significantly and they can take advantage should the additional equity issuance be approved.

Not doubting their ability to get it done as I'm sure they've put a great deal of thought into it, but I'm definitely curious as to what the plan is