GulfSlope Energy Inc (GSPE)

[smith199]

Gulfslope’s Tau Prospects 75% working interest partner Delek Group, completed solely by the Group, continues to meet it’s financial obligations and targets in the 2nd quarter.

The Group’s 2nd quarter financial results reflect substantially stronger cash flow, recategorizing unsecured debt to secured debt thereby allowing for better interest rates and repayment terms, decreasing the May 2019 Chevron Deal debt around 30%, $350 million USD by end of year, Delek negotiating with third parties concerning a possible merger with Ithaca and International Energy companies (to include a cash payment component made indirectly to Delek) with the intention of taking the merged company public on the London Stock Exchange in hopes or raising 400 million USD.

I must say, job well done by Delek so far during these times. The current economic situation is very fluid so future quarterly results could bring on meaningful news. Today, Brent crude pricing briefly hit one of it’s highs since the downturn.


Smith