GulfSlope Energy Inc (GSPE)

[spec machine]

Interesting development today with Delek

A deal has been announced to take NewMed Energy private

NewMed energy, formerly named Delek Drilling, a subsidiary of Delek Group

BP and Abu Dhabi National Oil are collectively purchasing 50% of outstanding shares at a >70% premium over the trade price at the announcement

My takeaway is that Delek finds the macro environment for partnership with UAE to be acceptable but currently has not stepped forward with continuation of investment in GOM due to hostile regulatory and financing hurdles

Pressures to unleash domestic oil and gas seem to be getting more traction in the slippery swamp

Yet still no rumbles from GSPE on the hunt for a pathway to production

WTI $78

Cheers

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