In my opinion, the recent low selling price of GSPE shares only represents the value placed on them by the relatively minor numbers of shareholders choosing to sell their holdings at this point in time.
And they were willing to lower the sales price enough to create the required liquidity. Probably nothing more to it than this.
Perhaps it is still too early to predict an outcome for Gulfslope Energy and GSPE shares. The value of the intellectual property is not diminished and the only thing currently lacking is the funding to pursue the drilling goal. So as you pointed out, much potential remains, and I do agree with you on this.
Evidently, these recent sales do not belong to members of the Gulfslope management team or to any of the major shareholders with large holdings. Those shares never trade.
Perhaps it is shareholders with somewhat less, but still significant holdings. But, by and large, these shares do not trade either.
So what we can deduce is that these latest sales occurred from those owning much less than 10% of the outstanding shares. Or, in other words, shareholders like ‘us’.
This selling can be considered regrettable and undesirable, or maybe even worrisome. But these sales are not representative of a catastrophe in the making, and it appears they will not be.
And I am less curious about who is selling than I am about who is buying. The new buyers at these price points appear anxious to take advantage of those selling at these prices.
In fact, it appears that once the stock price begins to rise, a large trade at a reduced price occurs. Is this a coincidence? Or is there perhaps a desire to hold the price low a while longer in order to purchase even more shares?
Please consider this for a few moments. I am interested to know if you have noticed this trend and formed an opinion.
During this selling we were also able to see that there was no shortage of buyers available at these price points. And no lack of willing buyers with money to purchase shares seemed to stabilize the share price and appears to indicate it is only ‘over’ for those doing the selling.
Of course there is always the potential that somebody new might know something new, and is setting up to get a big payday at a discount at some point in the future. I will not deny this is a possibility.
But I also want to mention that someone(s) with vision, or knowledge, or both, and the necessary resources are mining all available shares of GSPE stock at every opportunity.
Is it not curious that these new buyers obviously do not appear to be much concerned about any decline in the price of GSPE shares, as the money keeps pouring in to purchase more shares?
And please recall, the shareholders with the largest holdings were investors interested enough to purchase great numbers of GSPE shares @ 12 cents each.
So is it not likely that some of these shareholders, while still holding their initial investments, may also be interested in adding additional shares @ .0012?
Particularly if these actions also shore up the share price, and protect the investment.
Surely none of this is an oversight. These buyers must think of this as only being bargain hunting, as their sights remain focused farther ahead in time.
One way to possibly tell if these large investors are indeed adding to their holdings, is if these newly purchased shares do not trade again anytime soon, since the buyers will likely continue to hold on to them. Help me be watching for it.
It is my expectation that the Gulfslope Energy management team will continue to focus on finding new partners.
I wonder if the Gulfslope staff is also working on an Exploration Plan for Tau 2. One that can be presented to Delek for consideration. This will be required since the drilling will be from a new lease location. Would be nice to hear of any progress towards a Tau 2 drilling plan.
All things considered, I must agree with you that GSPE shares are not yet over. And there are at least two of us saying this on the record here.
Looking around, I see room for others to join this opinion. Anyone else willing to be on the record? Or is it only spec, Tb7, and I willing to put our mouth where our money is?
Sorry for such a long post. But for now, I am only intermittently posting. And I had a lot saved up.
Mrs. Smith
