I agree MktMvn.
A lot of Oil and Gas well service costs were reduced at the beginning of April, and Oil and Gas Vendors continue to reduce Well Operator’s costs even through the month of September 2020.
Yes, Gulfslope needs the BOEM and BSEE on the ball, but I believe they are doing their best under the current circumstances. The Tau Prospect is estimated to Drill in 4 months, and the Anadarko/Corvette Vermilion Development Well is estimated to Drill in 3 months. So If we could get things going by the end of May, we could technically be completed on the Anadarko by August, or on the Tau-2 well by September.
Remember, the above timelines are from Gulfslope’s September Presentation, and Gulfslope Energy over the last 6 months has been revising and refining the Prospects well procedures and designs. It could be less than 3 and 4 months for the Anadarko/Corvette and Tau Prospects, respectively.
Reminder, The ‘NSAI’ Netherland Sewell Associates, Inc. report for the Tau-1 well’s “Resources” was completed rather quickly after drilling. Netherland Sewell and Associates start their reporting procedures during the drilling process so that is why they have the report completed shortly after the drilling has finished.
Source: Gulfslope’s 2019 Presentation, Gulfslope’s website, Investors, Company Information, Presentations
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