Yes, I too smell smoke. But it is not the smoke you would smell with Willie or Snoop. The smoke I smell is from the fire that is building under GSPE.
Or, to state it another way, once this company gets rolling, the KEY Element to Wealth will be the number of shares one owns.
Eventually we ‘minnows’ will stop trying to make $0.0005 cents profit per share on a trade and take advantage of this gift of abnormally low prices. Looking forward, one can make the argument that these share purchases below 1 cent are an absolute bargain.
These million GSPE share buys we are seeing tells me there are those out there that are waking up to that idea too, and realize that right now is the best time to buy these shares at rock-bottom prices. ‘Swoosh’ time is definitely approaching, so traders wishing to exit this stock should be getting ready.
And I am suspecting that these shares are being removed from the ‘trading pool’ and will be held on to for the long game to come. This may become a ‘boring’ stock to watch for a time as the share price stabilizes while the company moves forward.
It appears that Gulfslope plans to both buy producing properties and drill new wells. It is a proven fact that many GOM operators will skim the cream off the top of their production, then sell off what is left. It happens on land properties too.
The new company comes in with new ideas, new management, new technology, new drilling plans, lower overhead, and turns everything around, making fortunes in the process. This has happened often in the past. Perhaps history repeats itself here once again with Gulfslope.
A recent example of this is the rumor about Exxon and Denbury Resources. Exxon sold Denbury all their mature East Texas oil assets 25 years ago. At the time, Denbury shares were less than $5. Recently, it was over $100. And now it is rumored that Exxon is interested in buying these properties back once again.
Who can predict how the pendulum swings over time? But it looks like Denbury shareholders should do better than just OK. And GSPE is a much better opportunity, since it is not yet a mature asset, and still has all that growth to undergo.
My 2023 Wealth Plan. Stay the course with GSPE stock and do not be easily influenced to give up my position. Take advantage of these prices offered up by the ‘investing gods’ while they last, and buy even more shares with New Money. Hold on to them. Prosper.
I am a ‘whale watcher’….. And indeed, I am also looking forward to a Happy New Year in 2023.