GulfSlope Energy Inc (GSPE)

[MktMvn]

Gulfslope just leased the block right next to Corvette, so it’s likely they think it has part of the prospect. And that lease will be valid for another 4 years. With the Corvette block they have two choices. If they don’t think the prospect is worthwhile, they can just let it go. If they like it they will have to drill or lose the lease. If they lose the lease they can try to re-lease it next spring at the next sale. But this sounds risky if some other company is lusting after the block. I would be watching the BOEM website for an APD and filing of an exploration plan. If that doesn’t happen in the next few weeks the block is probably history. Then the partners (if Delek goes along) will have whatever is on the nextdoor block, and we would have to hope that it’s a good prospect.