GulfSlope Energy Inc (GSPE)

[smith199]

I think there were a couple of positive indicators in Gulfslope’s recent 10-Q. Of course the main one being Gulfslope Energy is planning to redrill the Tau prospect “within”, any time between, now and next August. There also was the 6.5 million USD insurance claim monies.

I found it interesting that Delek Group stated in May 2020 that the Tau Prospect’s Operator, Gulfslope Energy was “Continuing Further Seismic Assessments”. Why would an Operator on a Prospect spend additional time and funds to “Continue Further Seismic Assessments” if they were not serious about a “re-drill”, with a time-line that could start anytime between now and next August barring any delays?

Since LLS has a positive correlation with Brent and does not suffer from product movement issues like WTI, I like the fact the EIA’s forecast show the average price of Brent to be $50/bbl in 2021. Another good sign for LLS pricing in the future is the EIA’s monthly forecasted average crude oil pricing continues to increase each time.



Smith