GulfSlope Energy Inc (GSPE)

[smith199]

I find solace in the expectation that the BOEM may hold as many as (3) GOM oil and gas lease sales in 2023. The (2) Biden stalled 2022 GOM lease sales, 259 and 261 from the 2017-2022 National Oil and Gas Leasing Program are now scheduled for the end of March and September of this year. Then there is the (1) scheduled 2023 GOM OCS lease sale, 262 from the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program. This is how we will be able to determine if the administration will comply with the law and uphold it’s duty to the country to ensure the energy supply is secure.

I was not surprised that there was only “one” bid for the December 2022 Cook Inlet (offshore Alaska) lease sale, since the last BOEM Cook Inlet lease sale was back in June of 2017. By the way, the BOEM only has (1) other scheduled Cook Inlet lease sale, 267 on the 2023-2028 “Proposed” National Oil and Gas Lease Sale Program, which is in 2026.

For now, it is a good thing Gulfslope is focused on the purchase of oil and gas production rather than on the purchase of oil and gas leases. Reminder, U.S. crude oil production (million barrels per day) was 11.25 in 2021 and 11.86 in 2022. The EIA forecast U.S. crude oil production (million barrels per day) to be 12.41 and 12.8 in 2023 and 2024, respectively.

So, the trend is with us, and I am holding on to it tightly.




Mrs. Smith