Replies to post #3170 on GulfSlope Energy Inc (GSPE)

[smith199]

Gulfslope Energy GSPE USA Long and Stronger!

As we all know things never stay the same so this too will pass, and the price of oil per barrel will increase down the road. Reminder, all of GSPE’s Prospect’s Breakeven is less than $20/bbl.

If you investment philosophy is “long term” you should weather this market downturn, not so clear about all the others.


Smith

[smith199]

When a Tau-2 well is drilled, they could possibly continue on and drill an additional Tau well (i.e. sidetracks ect.) to reach additional potential Target layers. Since drilling costs are dropping to new lows, possibly they could continue with the Facilities and Completion stages of the Tau Prospect. The insurance monies are there for a Tau-2 well drill 3/4 of the way to a measured depth of 15,254’, and now some Oil and Gas Customer’s Costs are at an all time low.

Not saying this will happen, but there is still options. BTW, not All oil and gas E & P drilling has ceased.


Smith

[smith199]

ONLY 3000 shares @ $.01072

[smith199]

Over a 1.1 million GSPE Buy (Bid) order in right now.

Does anyone else notice when GSPE is doing well (large volume buying) the same internet suspects come out to bash the Company. Just my observations.

BTW, the Offshore Tug/ Supply Ship, G. Frederick Seemann has been by both the Ensco B YP and Ensco 102 today. It was positioned NE by the Ensco 102 yesterday afternoon. Not sure what it all means, but not a bad sign. Activities continue at Port Fourchon. Source:. Vessel Finder


GSPE USA Long and Stronger!

Smith

[smith199]

“Our great Oil and Gas industry is under siege after having one of the best years in recorded history. It will get better than ever as soon as our Country starts up again. Vital that it does for our National Security.”

Quote from US President Trump 3 hours ago.

Reminder, during the last US government shutdown, President Trump kept the BOEM and BSEE open during that last Governmental shutdown. He said it was Vital for our National Security too. Currently they would be included in the Essential Critical Infrastructure Workforce.



Smith

[smith199]

Fact 1, Gulfslope’s Contract with Valaris’s Ensco JU 102 Rig is still for 3 months March 20, 2020 through May 20, 2020, not one month off Valaris’s latest February 13, 2020 Quarterly Fleet Status Report.

Fact 2, More importantly, Valaris did not Report Gulfslope Energy cancelling their contract. Gulfslope Energy still has a rig contract with Valaris through May 20, 2020. (3 months)

Fact 3, Contract durations on the Fleet Status Report do not include any unexercised optional extensions. Contract end dates can vary based on how long it takes to complete the wells subject to the contract.. Source: Page 10 of 12, Fine Print on Bottom of Page, Item no. 1, February 2020 Valaris’s Fleet Status Report.

The next reported contract following Gulfslope’s for the Ensco 102 rig is not until September 2020.

So, Gulfslope still has the Rig contract through May 20, 2020 with the potential for unexercised optional extensions on their Valaris Ensco 102 Rig contract, which would not have been reflected on Valaris’s Fleet Status Report.

Verifying facts during these unusual times.

Smith

Source: Valaris’s February 13, 2020 Quarterly Fleet Status Report.

[smith199]

An Anticipated Agreement between Saudi Arabia and Russia could potentially CUT production 10 million barrels per day or possibly even more, per US President Trump’s statement today.

Below is a Quote from US President Trump today, April 2, 2020:

“Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, and I expect and hope they will be cutting back approximately 10 million barrels per day, and maybe substantially more which, if it happens, will be GREAT for our Oil and Gas industry!”



Smith