GulfSlope Energy Inc (GSPE)

[smith199]

Thinking about a couple of things occurring next month in November. YA II PN gets to decide if they take the majority of the last installment in cash or 300k in GSPE shares, the 1st installment on the PPP goverment loan comes due unless it’s forgiven in full, (It could also be partially forgiven) the BOEM Lease auction, and lest we forget the US Presidential election.

Down the road, I see some of the Oil and Gas E & P survivors of this global pandemic looking for a WIN, a “Comeback” so to speak. I still don’t under estimate the importance of Gulfslope’s 25% working interest in the Tau Prospect or Delek’s 75%. I also don’t see a 3rd party coming in on it without acquiring a decent percentage of the Tau.

For example, what if Gulfslope gave up 5%-10% of their 25%, and Delek gave up 25%-30% of their 75% for a sizable fee. That is still a nice percentage of the Tau’s 400 MMBOE of Recoverable Resources for a 3rd party, and drilling costs would be shared among all three. That way Gulfslope as the operator would receive the much needed monies for a Tau drill well-2, and Delek just transferred some of their risk and costs, which looks way better in front of their shareholders than that recently acquired 17m GSPE shares on 9/30/2020. Reminder, this was just for example purposes only, and today’s lower drilling costs will not be getting any cheaper as time goes by.

Gulfslope still has the 50m Authorized shares, none issued or outstanding.


Smith