GulfSlope Energy Inc (GSPE)

[smith199]

I too believe Gulfslope Energy’s strategy is to DRILL a Tau 2 “twin well”. They have been laying the groundwork for a good while now, and the market environment seems to support a move forward in that direction.

Gulfslope’s master plan has “only” been delayed never cancelled. Once optimal conditions collide Gulfslope Energy will “set the hook”.

Interesting excerpt from their recent 10-Q, Significant Accounting Policies, 4th Paragraph, line 3:
The Company is currently evaluating “One Well” for “Proved Reserves” and capitalized exploratory well costs remain pending the outcome of exploration activities involving the drilling of the Tau No. 2 well (twin well). Accordingly, these costs are included as suspended well costs at December 31, 2020 and it is expected that a final analysis will be completed in the next twelve months at which time the costs will be transferred to the full cost pool again upon final evaluation.

“Onward and Upward” my friends,

Mrs. Smith