GulfSlope Energy Inc (GSPE)

[MktMvn]

There is a downside to Delek being the biggest shareholder.They could decide that they have the right to more aggressively push the development of the company in the direction they want it to go. If this is at odds with the plan that Gulfslope management has in mind things could get complicated. Gulfslope is unusual in the fact that one person is largely responsible for the company’s existence and has provided the guidance for how to grow the company from the beginning. I wonder if this is about to change. I think it’s significant that there has been no announcement of what the next two-well phase will be (Corvette and Canoe Deep??) or whether Delek will participate. If Delek is only interested in following up on Tau with a second well, and has no plans for further exploration, then that puts Gulfslope right back in the position of having to find a partner for the next wells. I would love to hear how Delek, as potentially the biggest stockholder, plans to help make Gulfslope successful.