Here is a clear sign that the Tau remains a bonafide drilling opportunity.
In the past, I have noticed a Gulfslope management trend that relinquishes active leases which no longer meets the criteria for their E&P strategy.
The current annual rental payment for the Tau lease due on November 1st has escalated in price to be almost 3 times the initial rental amount in 2017 ($105K @ 100% Working Interest).
Which brings the question why continue making these increasing rental payments if there is no intent to drill a second Tau well?
One reason could be that with the administration’s willful obstruction against GOM lease auctions the value of the Tau BOEM lease has increased. So, the main thing moving forward is acquiring a drilling plan and some cash. That puts Gulfslope ahead of other Principals that still need to undergo a lease auction. All of which should be favorably received by those investors wishing to enter the E&P Sweepstakes.
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