GSPE

[par_putt]

Dan
Any news or thoughts on Gulfslope?

[dan_s]

I expected Gulfslope to report a JV partner on some of their GOM prospects by now. Low oil prices make the Gulf less attractive.

[par_putt]

Right but at $0.10 cents it is looking like a possible gamble for a 2yr hand... ?

[dan_s]

Definitely. Gulfslope has a solid management team and their prospects are the real deal. What probably happened (just my SWAG) is that the teams looking at their prospects all got put on hold by upper management. Exploration budgets get slashed when oil prices drop like this. If oil prices stabilize and begin to improve next year, Gulfslope should be able to close a JV deal.