Value Microcaps Junior Energy

[Bobwins]

gspe .073 Gulfslope Energy has been a big loser for me over the past several years. Bought right about the time oil tanked and have been holding, waiting for them to drill. Gulfslope is headed by former CEO of Anadarko, John Seitz. He has put millions of his own money into GSPE and we are finally getting close to drilling.

Gulfslope says they have found a new Gulf of Mexico play in the mid Gulf regions. The targets are in shallow enough water to allow up of jackup rigs instead of the giant floating rigs commonly used for the deep Gulf. This reduces expenses dramatically but GSPE maintains there are still big reservoirs in this mid region. Of course it's still not cheap as the targets are in 300' of water but the depth of drilling required is still 20-30,000 feet.

Gulfslope attracted Delek, an Israeli billion dollar energy company to test their concept. Delek has chosen two prospects to drill this year.

Here is the latest GSPE presentation explaining things.

GSPE has a huge number of shares outstanding at 800+million, hence the cheap stock price. Recent shareholder vote authorized a rollback for possible uplist.

https://content.equisolve.net/_9192a3810a2b6df09d3c557f957d6ff1/gulfslope/db/184/945/pdf/GSPE+Investor+Presentation+Feb_18+Final.pdf