Replies to post #407 on GulfSlope Energy Inc (GSPE)

[Philvb]

Texas South owns interests in seven offshore prospects in the Gulf of Mexico (“GOM”) in conjunction with GulfSlope Energy, Inc. in water depths between 300’ and 1,000’. GulfSlope has conducted extensive seismic reprocessing and interpretative work on the prospects focusing on the high potential subsalt play at depths of 15,000’ to 25,000’ prior to acquiring them in federal offshore lease sales. Texas South owns a 20% working interest (“WI”) in five of the prospects and up to an approximate 70% WI in two of the prospects that have shallow oil potential above 5,000’.