GulfSlope Energy Inc (GSPE)

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Interesting Excerpts from Gulfslope’s 8/5 & 8/1 PR’s.

Excerpts from 8/5/19 Press Release on Page 24 of the “Prospectus Summary”:
2nd Paragraph, Lines 2-3
“BOEM’s Regulatory Framework Provides multiple options for leaseholders to apply to receive extensions of lease terms under specified conditions.. Gulfslope is exploring all options contained in BOEM’s regulatory framework.”

2nd Paragraph, Lines 1-2
“We currently hold seven leases that comprise five prospects, and we will evaluate additional potential sources for growth opportunities with companies that hold active leases in our core areas.”

4th Paragraph, Lines 9-10
“We will also evaluate and seek to acquire producing properties that have a strategic relationship to our core area.”

4th Paragraph, Lines 6-7
“Early Monetization of a discovered asset or a portion of a discovered asset is an option for the Company as a means to fund Development or additional Exploration Projects as an alternative to potential equity or debt offerings.”

Excerpts from 8/1/19 Press Release Titled “GS announces Key Lease Extensions”
4th Paragraph, Lines 3-5
“Gulfslope has contracted the Ensco 102 Jackup Rig to drill a Subsalt test well at Vermillion 375 (Corvette Prospect) later this year, with an option for additional work. That Rig is also suitable for drilling a Second Well at Tau.”

2nd Paragraph, Lines 4-9
“Gulfslope and Partners are reviewing and finalizing options for ”additional drilling” To include drilling a Tau replacement well. Work currently underway includes detailed engineering of the wellbore path and casing design.”

BSmith