65% of the trades this morning was one ‘Buy’(Bid) for a Lump Sun of 400,000 shares. Not to bad! Definitely Interest.
Concern for the GSPE investor who sells now. What share price would they have to get back in at in order to re-acquire all their previous shares possibly losing out on Gulfslope’s next Drill, or just way less GSPE shares next time around. That is if they can still get the shares when they want back in, and at the price they want.
Delek is currently working with all the ‘Groups’ Bankers to rearrange their lending agreements to accommodate for the down turn in the market ( Force Majeure - a contract provision that relieves the parties from performing their contractual obligations). This is a very good thing! Delek Group’s 3/23/2020 Regulatory Release.
My rough estimate on Gulfslope’s 25% Working Interest on the Tau-2 well Insurance redrill to a measured depth of 15,254’ is around 9 million USD, Delek’s is around 26 million USD. This is a rough estimate based off the Tau-1 well budget. It could be more than 35 million USD the insurance company pays to get the Tau-2 well to the measured depth of 15,254’.
I do not believe Gulfslope or Delek will be walking away from that. It might be postponed for a short while, but I Do Not believe they are walking away from a Tau-2 well drill. Some companies have cut back some of their drilling and others all. I do not see Delek or Gulfslope cutting back on the Tau-2 well. A successful Tau-2 well would provide Gulfslope with the opportunity they need.
”If You Can Keep Your Head When All About You Are Losing Theirs” ‘IF’ by Kipling
Smith
Theses are my personal thoughts.
