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smith199

05/29/20 7:50 PM

#3451 RE: smith199 #3449

Appears Harris County (Houston TX) Judge Lina Hidalgo issued an order May 19, 2020 to supersede Texas Governor Greg Abbot’s “Stay at Home Work Safe Order”. Gulfslope Energy’s Headquarters is located in Harris County, Houston, TX.

Harris County Judge Lina Hidalgo’s “Stay at Home Work Safe Order” was extended through June 10, 2020 Source: HoustonEmergency.org., Section: News and Alerts

Texas Governor Greg Abbot’s Order allowed the greater of up to 25% capacity or 5 employees for an Office Building Business. Source: gov.texas.gov/organization/opentexas

The Gulf Coast Region of the BOEM and BSEE is located in New Orleans, Louisiana. New Orleans Health Department Director Jennifer Avengo stated if the state of Louisiana is allowed to move into a Phase 2 reopening next week, its possible New Orleans might not follow suit until a later date.

As it stands now, there is a “Stay-at-home Work-safe” Order for New Orleans, Louisiana with the majority of the BOEM/BSEE employees that process the Exploration Plans ‘EP’ and Permits ‘APD’ still working from home. The BSEE Data Center has some employees working at the Office that also burn BSEE CD information for the public. The BOEM and BSEE have employees working at Offsite Locations too.

If you go to the BSEE Data Center under the Scanned Plans Query updated as of May 29, 2020 you can see the following statement from BSEE: ”Due to the Limited Access of our Office Building in New Orleans because of Covid-19, there may be a Delay in fulfilling Disc Media Store Orders”

Gulfslope Energy, the BOEM and BSEE are still under “Stay-at-home Work-safe Orders”. I believe just like us they all are continuing to work, but from home right now.

I believe the BOEM and BSEE productivity level is at a slower pace than normal. It has to be with employees working from home with additional adults and children residing under the same roof unable to continue their normal day to day extracurricular activities (school, sports, clubs, restaurants, etc.) That has to be distracting for anyone not normally use to working from home. I have a friend who is an Engineer (top of his class) who says his productivity has been cut in half due to this very thing (Stay-at-home Order).

Gulfslope Energy’s February 27, 2020 Press Release stated “Gulfslope Energy filed an Exploration Plan ‘EP’ with the Bureau of Ocean Energy Management ‘BOEM’ and a Application for a Permit to Drill ‘APD’ with the Bureau of Safety and Environmental Enforcement ‘BSEE’ .” “The Company anticipates receiving approval in late March.” Then the Global Pandemic occurred.

My opinion is, the BOEM and BSEE are processing Gulfslope’s Exploration Plan, Permit, etc., but just at a slower pace than normal.

Smith



smith199

06/01/20 9:12 AM

#3462 RE: smith199 #3449

Louisiana light up 4.7% to $37.07/bbl as of May 29, 2020 (1 day delay) Wholesale Spot Closing Price.
Source:. EIA.gov

Gulfslope’s Prospects Breakeven is <Less that $20/bbl .
Source: Gulfslope’s website, Investors, Company Information, Presentations, 9/2019



Smith