According to a friend who is working the Gulf in Houston, Tau is classified as a “tight hole”. This means the partners are not releasing any information on the well. So we wouldn’t hear anything under ordinary circumstances until the well is drilled to the planned total depth and the logs are run. It’s driving me nuts, as I’m sure it is you and others who want to know where we stand. But nothing to do but wait, unless things start leaking out. I can tell you that when I have talked to people at Gulfslope recently they have seemed very upbeat and think that Tau will be a good test of the play concept. I don’t know why it’s a tight hole. I would guess that there are more prospects out there that Gulfslope hasn’t tied up, and they want to give themselves a competitive advantage in picking those up by using the knowledge that they gain from Tau. The downside to not releasing information is that potential investors are not seeing anything interesting about Gulfslope that would inspire them to buy in. It looks like everyone is pretty much writing off Gulfslope as a complete failure. Which is nuts when they are finally drilling the well that could prove that billions of barrels are there for the taking. If Tau is a success Gulfslope could prove to be the best investment bargain of all time.
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