GulfSlope Energy Inc (GSPE)

[smith199]

Why I believe Delek wants to drill Tau.

Consistent readers of this board know that I have stated numerous times that I believe Delek and Gulfslope will drill Tau 2. It occurred to me that I have not really discussed why.

So, the main reason is the Tau is a great prospect and they both know it. Also, Delek still owns approximately 300 million GSPE shares (23%) and a 75% working interest in the Tau prospect’s oil assets. They have not been divesting, they are still holding, they have declined to take advantage of any of the numerous opportunities to sell or transfer large numbers of shares. Why wouldn’t they sell if they were abandoning the Tau? Why leave millions of dollars on the table instead of in your bank account, if you are walking away?

Until I see material changes that suggest Delek is giving up and throwing in the towel, I will continue to believe that they plan to drill the Tau 2.




Mrs. Smith