GulfSlope Energy Inc (GSPE)

[smith199]

Spec, I was checking for oil news during lunch and guess what is occurring in the GOM right now off the coast of Galveston, Tx?

Evidently a tanker carrying Iranian crude was spotted off the coast of Singapore in February 2022. The U.S. seized the embargoed cargo and transported it to Galveston, Tx in May 2023.

The crude is currently in the process of ship to ship transfer. The transfer had been delayed this long due to the U.S. Navy sending assets to the Persian Gulf after threats of retaliation from Iran.

The ship transporting the confiscated crude is owned by a company in Los Angeles. The 800,000 barrel cargo is reportedly worth $56M.

I only point this out because of your recent post referring to black market crude smuggling operations, which I assumed occurred in the GOM. Looks to be more widespread than I believed. I suppose they get away with it more often than not.

At this point WTI is holding about $81 (better than $69) and I do not expect it to ‘tank’.

https://www.timesofisrael.com/us-tanker-unloading-suspected-embargoed-iranian-oil-despite-tehrans-warnings/

https://www.khou.com/article/news/local/iran-oil-tanker-offloading-galveston-texas/285-e6b93fc2-d719-44e6-94ac-fe17fc554045



Mrs. Smith