Replies to post #2519 on GulfSlope Energy Inc (GSPE)

[smith199]

Gulfslope’s Contract with Valaris (Ensco) for the “Heavy Duty Harsh Environment Jackup Rig 102” commences October 19, 2019. I am sure it will need to be inspected and permitted prior to drilling. Gulfslope has stated this Rig is suitable for the Corvette and the Tau Prospect in their previous press release.

It is currently in the Central GOM.

Smith

[MktMvn]

Very interesting. Does sound like the BOEM will be pretty forgiving of delays if there is a legitimate effort to move ahead. Thanks for digging deep.

[smith199]

I believe it is important to comment on the recent message board topic of the Corvette Lease G35193 Suspension of Production (“SOP”).

An “Initial SOP” can be extended beyond the original dates, and is “approved based on the circumstances of each individual case”. The “activity schedule” can be modified along with the “major milestones”.

Please refer to my attached post number 2519 for more clarification on this topic.

Gulfslope’s “initial timeline” to drill the Corvette lease is through January 2020, but we all know “Initial SOP’s” can be extended if need be. Again, please see post number 2519.

Excerpt from an 10/3/2019 BSEE letter to Gulfslope regarding the “Initial SOP” extension on lease G35193, imported into BSEE’s Data Center 11/13/2019.

“Gulfslope request additional time to properly plan, drill, complete and produce from a well targeting proved reserves on lease OCS G35193. Gulfslope has secured a rig contract, an approved exploration plan, and proposes to commence drilling a well by January 2020. Following permitting, drilling, completing, pipeline testing, and platform restoration. Gulfslope expects to commence production from lease OCS G35193 by the end of June 2020.”

But, like the BOEM has stated before this is an “Initial SOP”, and can be extended beyond the original dates based on the circumstances of each individual case.

Mrs. Bill Smith