After completely examining my motives for being a GSPE shareholder, I must admit that I have come to the realization that I am, in fact, a trader.
A support trader. Not one that follows the chart trends, but one that takes a longer term outlook on an investment. This is actually a vital and necessary requirement to being a successful shareholder of a drilling oriented company such as Gulfslope Energy.
The drilling process is often a long and convoluted path. This is true for even the largest of the integrated oil companies. They have many more drilling prospects than they have rigs under contract. Their drilling budgets are well defined and enforced.
So all their prospects are reviewed and prioritized. It is not uncommon for a prospect to take two or three years, or even longer, from concept to having a rig on location.
And this is with organizations having a budget readily available, with rigs on contract, and staffs with the mandate to execute the approved drilling plans.
I have to keep reminding myself of this whenever I start getting impatient. It occurred to me that maybe others could also use a reminder regarding the complicated activities Gulfslope is engaged in. I know this is not news for many of you, but for others, this could be the first drilling experience.
So my message to them is, do not despair. While things appear to be moving forward slowly for Gulfslope, this may not be unexpected for a start up driller, having to raise funds of a significant amount, in a financial market roiled by government interventions and ‘Joe’ economics.
The thing to keep focused on is that oil and gas production is a requirement for our society and for all those in the rest of the world as well. The economic and political outlooks and beliefs do not matter.
Unless they live in such an undeveloped state that they can heat their hut with a wood fire and walk everywhere they need to go, their existence requires fuel for transportation, fuel for manufacturing, fuel for electricity, fuel for food, fuel for heat, and so on.
So, regardless of the political will of some, the demand will not diminish any time soon. It is but a matter of time before our turn comes.
Fuel for thought.
Mrs. Smith
