Opinion, Possibly still the potential for the “Proposed $11,240,000 from the Qualified Institutional Investor, YA II PN, Ltd. Source: Gulfslope’s 8/5/19 Press Release, S1, Security Purchase Agreement.
The “Privately Held Oil & Gas Company/Partner” on the Letter of Intent for the JV with GS is ”Subject to specific performance criteria, the “Partner” will be granted the Option to Participate in the company’s Corvette Prospect on a Promoted Basis”. Source: Gulfslope’s 6/28/19 PR, end of 1st Paragraph.
Opinion, Since Gulfslope has contracted the Valaris (Ensco) JU 102 to commence on 10/19/19, I would anticipate a PR prior to or shortly thereafter 10/19/19. Looking for the anticipated SPUD date, JV/Partnership Agreements, etc. Source: Valaris (Ensco) July 25, 2019 Fleet Status Report
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