I’m holding my position in Gulfslope, have been the past 2 years. Promising outlook considering a lot of the majors are slashing their budgets for my dear Permian/Delaware basin assets. Last auction for offshore leasing was garbage compared to past performance. That’s actually a good sign considering many companies are focusing more cash for GOM which if you take into account the last lease auction, means partnerships, acquisitions, etc. as far as politics goes that is in our favor as well, generally many on the left in Washington just believe out of sight out of mind. Fracking and land based operations hurt their image to the general public so offshore drilling is a big plus for them. So when the price of oil jumps to 100 plus dollars per barrel I think Gulfslope is a home run. It is just going to take some time. There’s a lot of acquisitions, divesting, and lease auctions going on right now. Maybe the Gulfslope team has a few assets and potential partners on their radar. Time will tell. I don’t post on here often but I do follow this thread weekly. Thus far this year I have been busy, I know many companies and people that have lost everything but the industry as a whole has not died nearly as bad as I thought it was going to.
Side note: A lot of companies are shifting their focus to Japan for manufacturing, Japan does not have the capacity to supply itself with enough energy. I can see more shipments of crude from Australia and the US as time goes by. Same goes for India, last year India opened up its doors for foreign companies to come in and drill with a pretty generous package as far as profit sharing goes. Not many companies have taken up India’s offer, sooo more crude oil shipments in the near future.
Stay strong, be patient, time will tell
