GulfSlope Energy finalizes award of 21 leases in GoM sale 231

GulfSlope Energy has received notice of award and has completed all requirements for 21 offshore lease blocks for which it was the high bidder at offshore lease sale 231, central Gulf of Mexico, conducted by the Bureau of Ocean Energy Management.

Jun 19th, 2014

Offshore staff

HOUSTON – GulfSlope Energy(OTCQB: GSPE) has received notice of award and has completed all requirements for 21 offshore lease blocks for which it was the high bidder at offshore lease sale 231, central Gulf of Mexico, conducted by the Bureau of Ocean Energy Management (BOEM). 

With the conclusion of the lease award process, GulfSlope now controls 98,941 acres covering 17 prospects. The blocks are on the outer shelf and upper slope of the offshore Gulf of Mexico, in water depths of less than 1,000 ft (305 m). The sum of the high bids was $7,319,217 on the leases awarded to the company.

GulfSlope's estimate of potential recoverable resources associated with the 21 awarded blocks is 2 Bboe. The company has contracted the petroleum consulting firm ofDeGolyer and MacNaughton to perform an independent assessment of the potential recoverable resources. GulfSlope expects to begin an exploration drilling campaign for these blocks in 2015.

06/19/2014

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