Replies to post #5834 on GulfSlope Energy Inc (GSPE)

[smith199]

Why I believe Delek wants to drill Tau.

Consistent readers of this board know that I have stated numerous times that I believe Delek and Gulfslope will drill Tau 2. It occurred to me that I have not really discussed why.

So, the main reason is the Tau is a great prospect and they both know it. Also, Delek still owns approximately 300 million GSPE shares (23%) and a 75% working interest in the Tau prospect’s oil assets. They have not been divesting, they are still holding, they have declined to take advantage of any of the numerous opportunities to sell or transfer large numbers of shares. Why wouldn’t they sell if they were abandoning the Tau? Why leave millions of dollars on the table instead of in your bank account, if you are walking away?

Until I see material changes that suggest Delek is giving up and throwing in the towel, I will continue to believe that they plan to drill the Tau 2.




Mrs. Smith

[MktMvn]

I know former GulfSlope employees, guys I worked with, that have told me that it’s all over, that GulfSlope is history. I took that as just cynicism, and have maintained my hope that something continues on. I haven’t spoken to anyone directly involved with GulfSlope in over a year, so I really don’t have any current information. The fact that the leases are still in Gulfslope’s name is probably the most positive sign. You have to pay rentals on those every year, and they aren’t cheap. If the company was truly defunct, I would expect them to drop the leases, and that hasn’t happened. So I still hold my stock and wait for word on upcoming plans like everyone else.