Replies to post #721 on GulfSlope Energy Inc (GSPE)

[necrow]

I totally forgot that Delek pays $1.5M for each well's exploration plan being filed, ~$1.1M of which will go to GSPE. So that's $2.2M right there assuming the exploration plans (which were filed recently as per the press release) are approved. That's obviously light for the combined Canoe + Tau drilling costs, but more than enough to cover Canoe alone and sustain operations for a while. Past that, I'm not entirely sure; the timeline for seeing revenue from Canoe is not going to cover it. Maybe Seitz is back in the market for some GSPE debt