99.1 annual meeting presentation · forwa rd l okin gs ta te men t t hisp re nta tio my ctfrw -l k...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 29, 2014 GulfSlope Energy, Inc. (Exact name of registrant as specified in its charter) Delaware 000-51638 16-1689008 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 2500 City West, Suite 800 Houston, Texas 77042 (Address of principal executive offices and Zip Code) Registrant's telephone number, including area code: (281) 918 4100 N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR240.14d-2(b)) [_] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17 CFR240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

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Page 1: 99.1 Annual Meeting Presentation · Forwa rd L okin gS ta te men t T hisp re nta tio my ctfrw -l k gb u,f C.F -“ v,” j ,x.BOE M ’ q cons is te ntv alu eg ro wth an dothe rp

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 29, 2014

GulfSlope Energy, Inc.

(Exact name of registrant as specified in its charter)

Delaware 000-51638 16-1689008(State or other jurisdiction

of incorporation)(Commission File Number) (IRS Employer

Identification No.)

2500 City West, Suite 800Houston, Texas 77042

(Address of principal executive offices and Zip Code)

Registrant's telephone number, including area code: (281) 918 4100

N/A(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any ofthe following provisions.

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR240.14d-2(b))

[_] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17 CFR240.14a-12)

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

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Item 7.01. Regulation FD Disclosure.

On May 29, 2014, at the 2014 Annual Meeting of Stockholders, GulfSlope Energy, Inc. (the “Company”) made a PowerPointpresentation, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K. A copy of the presentation may also be accessedat the Company’s website at www.gulfslope.com, although we reserve the right to discontinue that availability at any time.

In addition, the Company intends to disclose at meetings with institutional investors or analysts that on May 30, 2014, the Company

was notified by the BOEM that it was awarded leases on the blocks set forth below.

Awarded BlocksOutstanding Bid Amount and1ST year Lease Payment

Vermilion, South Addition Block 393 $ 159,409Garden Banks Block 173 $ 710,406South Marsh Island, South Addition Block 183 $ 119,619Eugene Island, South Addition Block 378 $ 358,530Eugene Island, South Addition Block 390 $ 358,523Eugene Island, South Addition Block 395 $ 159,416Eugene Island, South Addition Block 397 $ 358,523Green Canyon Block 4 $ 45,070Green Canyon Block 5 $ 548,480

These leases comprise approximately 40,731 acres in the Central Gulf of Mexico in water depths of less than 1000 feet. Althoughthe Company has not yet completed the requirements to obtain leases on these blocks, the Company intends to complete these requirements onor before June 13, 2014, which includes executing lease agreements for each block and wiring to the BOEM the outstanding bid amount and thefirst year lease payment for each block. With the award of leases on these blocks, the Company has now been awarded 19 of the 22 blocks itwas the high bidder on at the March 2014 Central Gulf of Mexico Lease Sale 231. The information set forth in this Current Report on Form 8-K and the Annual Meeting presentation attached to this Current Reportas Exhibit 99.1 is “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, asamended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filingunder the Securities Exchange Act of 1934, as amended, or the Securities Act of 1933, as amended, whether made before or after the datehereof and regardless of any general incorporation language in such filings, except as shall be expressly set forth by specific reference in such afiling. This Item 7.01 on Form 8-K and the Annual Meeting presentation attached to this Current Report will not be deemed an admission as tothe materiality of any information in the Current Report that is required to be disclosed solely by Regulation FD. Use of Non-GAAP Financial Measures; Forward-looking statements

This Current Report on Form 8-K and the Annual Meeting presentation described above may contain forward‐looking statements aboutthe business, financial condition and prospects of the Company. Forward-looking statements can be identified by the use of forward-lookingterminology such as “believes,” “projects,” “expects,” “may,” “goal,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” or“anticipates,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy or objectives.Forward-looking statements relate to anticipated or expected events, activities, trends or results including BOEM lease awards based on apparenthigh bids. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks anduncertainties. Forward-looking statements in the Annual Meeting presentation include, without limitation, the Company’s expectations of oil andoil equivalents, barrels of oil and gas resources in an underexplored region, prospects leased, profitable prospects, dollar amounts of valuecreation, cost estimates, discounted present value calculations, undiscovered resources, drilling success rates, resource information, superioreconomics, consistent value growth and other performance results. The SEC permits oil and gas companies, in their filings with the SEC, todisclose only proved, probable and possible reserves, i.e. Items 1201 through 1208 of Regulations S-K (“SEC Oil and Gas IndustryDisclosures”). The estimates of recoverable resources used in the Annual Meeting presentation do not comply with the SEC Oil and GasIndustry Disclosures, nor should it be assumed that any recoverable resources will be classified as proved, probable or possible reservesconsistent with the SEC Oil and Gas Industry Disclosures. Recoverable resources estimates are undiscovered, highly speculative resourcesestimated where geological and geophysical data suggest the potential for discovery of petroleum but where the level of proof is insufficient for aclassification as reserves or contingent resources. In addition, recoverable resources have a great amount of uncertainty as to their existence, andeconomic and legal feasibility. Although the Company believes that the expectations reflected in forward-looking statements are reasonable,there can be no assurances that such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statementsinvolve risks and uncertainties. The forward-looking statements contained in the Annual Meeting presentation speak only as of the date of theAnnual Meeting presentation, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any suchstatement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statementis based. Certain factors may cause results to differ materially from those anticipated by some of the statements made in the Annual Meetingpresentation. Please carefully review our filings with the SEC as we have identified many risk factors that impact our business plan. U.S.Investors are urged to consider closely the disclosures in our Forms 10-K, 10-Q, 8-K and other filings with the SEC, which can be electronicallyaccessed from our website or the SEC's website at http://www.sec.gov/.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. Exhibit Number Description99.1 Annual Meeting Presentation

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99.1 Annual Meeting Presentation

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalfby the undersigned thereunto duly authorized.

Date: June 2, 2014

GULFSLOPE ENERGY, INC. By: /s/ John N. Seitz John N. Seitz, Chief Executive Officer

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Exhibit 99.1

G u lfS lo p e E n e rg yE x p lo rin g th e G u lf o f Me x ic oMa y 2 9 th 2 0 1 4 A n n u a l S h a re h o ld e r Me e tin gw w w .G u lfS lo p e .c o m

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F o rw a rd L o o k in g S ta te me n tT h is p re s e n ta tio n ma y c o n ta in fo rw a rd -lo o k in g s ta te me n ts a b o u t th e b u s in e s s , fin a n c ia l c o n d itio n a n d p ro s p e c ts o f th e C o mp a n y . F o rw a rd -lo o k in g s ta te me n ts c a n b e id e n tifie d b y th e u s e o f fo rw a rd -lo o k in g te rmin o lo g y s u c h a s “ b e lie v e s ,” “ p ro je c ts ,” “ e x p e c ts ,” “ ma y ,” “ g o a l,” “ e s tima te s ,” “ s h o u ld ,” “ p la n s ,” “ ta rg e ts ,” “ in te n d s ,” “ c o u ld ,” o r “ a n tic ip a te s ,” o r th e n e g a tiv e th e re o f, o r o th e r v a ria tio n s th e re o n , o r c o mp a ra b le te rmin o lo g y , o r b y d is c u s s io n s o f s tra te g y o r o b je c tiv e s . F o rw a rd -lo o k in g s ta te me n ts re la te to a n tic ip a te d o r e x p e c te d e v e n ts , a c tiv itie s , tre n d s o r re s u lts in c lu d in g B O E M le a s e a w a rd s b a s e d o n a p p a re n t h ig h b id s . B e c a u s e fo rw a rd -lo o k in g s ta te me n ts re la te to ma tte rs th a t h a v e n o t y e t o c c u rre d , th e s e s ta te me n ts a re in h e re n tly s u b je c t to ris k s a n d u n c e rta in tie s . F o rw a rd -lo o k in g s ta te me n ts in th is p re s e n ta tio n in c lu d e , w ith o u t limita tio n , th e C o mp a n y ’s e x p e c ta tio n s o f o il a n d o il e q u iv a le n ts , b a rre ls o f o il a n d g a s re s o u rc e s in a n u n d e re x p lo re d re g io n , p ro s p e c ts le a s e d , p ro fita b le p ro s p e c ts , d o lla r a mo u n ts o f v a lu e c re a tio n , u n d is c o v e re d re s o u rc e s , d rillin g s u c c e s s ra te s , re s o u rc e in fo rma tio n , s u p e rio r e c o n o mic s ,c o n s is te n t v a lu e g ro w th a n d o th e r p e rfo rma n c e re s u lts . T h e S E C p e rmits o il a n d g a s c o mp a n ie s , in th e ir filin g s w ith th e S E C , to d is c lo s e o n ly p ro v e d , p ro b a b le a n d p o s s ib le re s e rv e s , i.e . Ite ms 1 2 0 1 th ro u g h 1 2 0 8 o f R e g u la tio n s S -K (“ S E C O il a n d G a s In d u s try D is c lo s u re s ” ) . T h e e s tima te s o f re c o v e ra b le re s o u rc e s u s e d in th is p re s e n ta tio n d o n o t c o mp ly th e S E C O il a n d G a s In d u s try D is c lo s u re s , n o r s h o u ld it b e a s s u me d th a t a n y re c o v e ra b le re s o u rc e s w ill b e c la s s ifie d a s p ro v e d , p ro b a b le o r p o s s ib le re s e rv e s c o n s is te n t w ith th e S E C O il a n d G a s In d u s try D is c lo s u re s . R e c o v e ra b le re s o u rc e s e s tima te s a re u n d is c o v e re d , h ig h ly s p e c u la tiv e re s o u rc e s e s tima te d w h e re g e o lo g ic a l a n d g e o p h y s ic a l d a ta s u g g e s t th e p o te n tia l fo r d is c o v e ry o f p e tro le u m b u t w h e re th e le v e l o f p ro o f is in s u ffic ie n t fo r a c la s s ific a tio n a s re s e rv e s o r c o n tin g e n t re s o u rc e s . In a d d itio n , re c o v e ra b le re s o u rc e s h a v e a g re a t a mo u n t o f u n c e rta in ty a s to th e ir e x is te n c e , a n d e c o n o mic a n d le g a l fe a s ib ility . A lth o u g h th e C o mp a n y b e lie v e s th a t th e e x p e c ta tio n s re fle c te d in fo rw a rd -lo o k in g s ta te me n ts a re re a s o n a b le , th e re c a n b e n o a s s u ra n c e s th a t s u c he x p e c ta tio n s w ill p ro v e to b e a c c u ra te . S e c u rity h o ld e rs a re c a u tio n e d th a t s u c h fo rw a rd -lo o k in g s ta te me n ts in v o lv e ris k s a n d u n c e rta in tie s . T h e fo rw a rd -lo o k in g s ta te me n ts c o n ta in e d in th is p re s e n ta tio n s p e a k o n ly a s o f th e d a te o f th is p re s e n ta tio n , a n d th e C o mp a n y e x p re s s ly d is c la ims a n y o b lig a tio n o r u n d e rta k in g to re p o rt a n y u p d a te s o r re v is io n s to a n y s u c h s ta te me n t to re fle c t a n y c h a n g e in th e C o mp a n y ’s e x p e c ta tio n s o r a n y c h a n g e in e v e n ts , c o n d itio n s o r c irc u ms ta n c e s o n w h ic h a n y s u c h s ta te me n t is b a s e d . C e rta in fa c to rs ma y c a u s e re s u lts to d iffe r ma te ria lly fro m th o s e a n tic ip a te d b y s o me o f th e s ta te me n ts ma d e in th is p re s e n ta tio n . P le a s e c a re fu lly re v ie w o u r filin g s w ith th e S E C a s w e h a v e id e n tifie d ma n y ris k fa c to rs th a t imp a c t o u r b u s in e s s p la n . U .S . In v e s to rs a re u rg e d to c o n s id e r c lo s e ly th e d is c lo s u re s in o u r F o rms 1 0 -K , 1 0 -Q , 8 -K a n d o th e r filin g s w ith th e S E C , w h ic h c a n b e e le c tro n ic a lly a c c e s s e d fro m o u r w e b s ite o r th e S E C 's w e b s ite a t h ttp ://w w w .s e c .g o v /.A b b re v ia tio n s :MM millio n $ U n ite d S ta te s d o lla rB b illio n R T M R e v e rs e time mig ra tio nb o e b a rre l o f o il e q u iv a le n t G S P E G u lfS lo p e E n e rg y , In c .

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G u lfS lo p e O v e rv ie w

G u lfS lo p e b e c a me a n o il a n d g a s e x p lo ra tio n c o mp a n y w h e n it a d o p te d its c u rre n t b u s in e s s s tra te g y in Ma rc h 2 0 1 3 in o rd e r to e x p lo it th e G u lf o f Me x ic o (“ G o M” ) s u b -s a lt S h e lf M io c e n e P la y

Wh ile th e p la y h a s b e e n k n o w n to in d u s try s in c e th e 1 9 9 0 ’s w h e n o v e r 3 5 0 MMB o e w e re d is c o v e re d in th e tre n d , it re ma in s u n d e re x p lo re d d u e to th e c h a lle n g e o f s e is mic ima g in g s u b -s a lt

– In d u s try mo v e d to th e d e e p w a te r in th e la te 1 9 9 0 ’s w h e re e x is tin g s e is mic te c h n o lo g ie s w e re mo re e ffe c tiv e– S u b s e q u e n tly , d e e p w a te r e x p lo ra tio n h a s a d v a n c e d s u b -s a lt ima g in g , b u t th e n e w te c h n o lo g ie s h a v e n o t b e e n d e p lo y e d in o u r fo c u s a re a

C o mme rc ia liz a tio n o f R e v e rs e T ime M ig ra tio n (“ R T M” ) in 2 0 0 6 p ro v id e d e x p lo re rs w ith th e mo s t a c c u ra te s u b -s a lt ima g in g in th e h is to ry o f th e in d u s tryG u lfS lo p e ’s te a m w a s fo rme d s p e c ific a lly to e x p lo re fo r la rg e s u b -s a lt ta rg e ts in le s s th a n 1 ,0 0 0 ft o f w a te r d e p th

– L ic e n s e d 2 .2 millio n a c re s o f 3 D s e is mic d a ta– P re mie r te a m o f g e o p h y s ic is ts a n d g e o lo g is ts , a ll e x p e rie n c e d in G u lf o f Me x ic o s u b -s a lt– 1 4 ,0 0 0 te c h n ic a l ma n h o u rs in v e s te d to id e n tify le a s e s to b id o n in th e 2 0 1 4 G o M L e a s e S a le– In te rn a l e s tima te o f 2 B + B o e o f p o te n tia l re c o v e ra b le re s o u rc e s o n id e n tifie d p ro s p e c ts (1 )– H ig h b id d e r o n 2 2 o f 2 3 p ro s p e c ts (2 )

(1 ) B a s e d o n in te rn a l c o mp a n y e s tima te s o f p o te n tia l re c o v e ra b le re s o u rc e s th a t d o n o t c o mp ly w ith S E C O il & G a s In d u s try D is c lo s u re s . A s s u me s G u lfS lo p e is a w a rd e d a ll b lo c k s it w a s th e h ig h b id d e r o n a t th e O ffs h o re L e a s e S a le 2 3 1 , C e n tra l G u lf o f Me x ic o , w h ic h w a s c o n d u c te d b y th e B u re a u o f O c e a n Ma n a g e me n t o n Ma rc h 1 9 , 2 0 1 4 .(2 ) O ffs h o re L e a s e S a le 2 3 1 , C e n tra l G u lf o f Me x ic o , w h ic h w a s c o n d u c te d b y th e B u re a u o f O c e a n Ma n a g e me n t o n Ma rc h 1 9 , 2 0 1 4 .

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E x e c u tio n to D a teU tiliz in g re g io n a l 3 D s e is mic d a ta with a d v a n c e d p ro c e s s in g , G u lfS lo p e h a s a c q u ire d a s ig n ific a n t le a s e h o ld p o s itio n in th e S h e lf Mio c e n e s u b -s a lt p la y1 2 0 0 7 -2 0 1 3 : P ro o f o f C o n c e p t• In d u s try p ro v e s e ffe c tiv e n e s s o f R T M a n d o th e r te c h n o lo g ie s th ro u g h s u b -s a lt d is c o v e rie s w o rld w id e2 C o mp e titiv e A s s e s s me n t L e v e ls o f in d u s try b id d in g a t th e 2 0 1 2 & 2 0 1 3 le a s e s a le s o n th e s h e lf c o n firme d th a t c o mp e tito rs h a d n o t fo c u s e d o n th e S h e lf M io c e n e s u b -s a lt p la y 3 S e is mic D a ta A fte r 2 0 1 3 le a s e s a le , lic e n s e d 2 .2 millio n a c re s o f 3 D s e is mic d a ta o v e r fo c u s a re a -B e g a n re -p ro c e s s in g s e is mic d a ta 4 P u b lic V e h ic le Ma n a g e me n t a s s u me s c o n tro l o f p u b lic v e h ic le 5 B u ild T e a m -T a rg e te d to p -ta le n t g e o p h y s ic is ts a n d g e o lo g is ts w ith s u b -s a lt e x p e rie n c e -T e c h n ic a l te a m h a s o v e r 2 0 0 y e a rs to ta l e x p e rie n c e , p rima rily e x p lo rin g fo r ma jo r a n d la rg e in d e p e n d e n t o il a n d g a s c o mp a n ie s in th e G o M 6 Id e n tify P ro s p e c ts -S p e n t 1 4 ,0 0 0 te c h n ic a l ma n h o u rs id e n tify in g p ro s p e c ts w ith s ig n ific a n t h y d ro c a rb o n p o te n tia l -R e -p ro c e s s e d 1 millio n a c re s o f 3 D s e is mic d a ta w ith R T M -H ig h -g ra d e d p ro s p e c t rig o ro u s te c h n ic a l a n d e c o n o mic c rite ria 7 2 0 1 4 L e a s e S a le - H ig h b id d e r o n 2 2 o f 2 3 le a s e b lo c k s fo r a n a g g re g a te e x p o s u re o f $ 7 .8 mm - P o rtfo lio o f p ro s p e c ts w ith 2 B + B o e o f p o te n tia l re c o v e ra b le re s o u rc e s (1 )(1 ) B a s e d o n in te rn a l c o mp a n y e s tima te s o f p o te n tia l re c o v e ra b le re s o u rc e s th a t d o n o t c o mp ly w ith S E C O il & G a s In d u s try D is c lo s u re s .

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G u lfS lop e F ocu s A rea: T h e S h elf Miocen e P layH igh valu e assets w ith large resou rce poten tial

H igh bidder on 22 lease blocks in focus areaL arge portfolio of drilling opportunities (prospects) w ith significant resource potential targeting the oil and condensate prone S helf Miocene P layInternal estim ate of 2B + B oe of potential recoverable resources over portfolio of blocks

Moderate drilling depths reduce costs and accelerate developm ents80% of prospects are w ithin jack-up w ater depth (450’ or less) at far low er cost than deepw ater drillships or sem i-subsE xtensive netw ork of pipelines and platform s nearby for production

(1) B ased on internal com pany estim ates of potential recoverable resources that do not com ply w ith S E C O il & G as Industry D isclosures. A ssum es G ulfS lope is aw arded all blocks it w as the high bidder on at the O ffshore L ease S ale 231, C entral G ulf of Mexico, w hich w as conducted by the B ureau of O cean Managem ent on March 19, 2014.

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E v o lu tio n o f th e S h e lf Mio c e n e P la yG o M s h e lf s u b -s a lt p o te n tia l wa s id e n tifie d in th e 1 9 9 0 ’s b u t wa s u n a b le to b e fu lly e x p lo ite d d u e to limits o f s e is mic ima g in g a n d d rillin g te c h n o lo g ie sS a lt is No t th e B a s e me n t! 1 9 9 0 • R e s e rv o ir q u a lity s a n d firs t e n c o u n te re d b e lo w s a lt c a n o p y in 1 9 8 6 • Id e n tifie d th e p o te n tia l o f o il a n d g a s re s e rv o irs s u b -s a ltS h e lf Mio c e n e P la y L imite d b y E x is tin g S u b -S a lt T e c h n o lo g ie s 2 0 0 0 • T h e a c q u is itio n a n d p ro c e s s in g o f s e is mic n o t d e s ig n e d fo r s u b -s a lt d e p th s • S e is mic p ro c e s s in g d o e s n ’t a c c u ra te ly ima g e b e lo w s a lt • D rillin g d e p th limita tio n s re d u c e p ro s p e c t a v a ilb ility S e is mic A d v a n c e me n ts 2 0 1 0 • N e w s e is mic d a ta s h o t w ith lo n g e r o ffs e ts …b e tte r fo r s u b -s a lt d e p th s • N e w R e v e rs e T ime M ig ra tio n mo re a c c u ra te ly ima g e s s u b -s a lt o p p o rtu n itie s • R T M a n d o th e r te c h n o lo g ie s p ro v e n s u c c e s s fu l in s u b -s a lt d e e p w a te r G o M, B ra z il, We s t A fric a , & C a n a d a S u b -S a lt D is c o v e rie s • 7 d is c o v e rie s ma d e in th e G o M S h e lf M io c e n e p la y • A p p ro x ima te ly 3 5 0 MMb o e d is c o v e re d S h ift to D e e p wa te r • In d u s try mo v e d to d e e p w a te r a s a v a ila b le s e is mic ima g in g w a s s u ffic ie n t to d e -ris k p ro s p e c ts • L o n g e r le a s e te rm: 1 0 y rs v s . 5 y rs o n s h e lf • G ia n t fie ld s d is c o v e re d S ta rt o f G u lfS lo p e • S h e lf M io c e n e s u b -s a lt p la y re ma in s to b e fu lly e x p lo re d w ith n e w te c h n o lo g ie s • G u lfS lo p e mo v e s to a c q u ire a le a d in g p o s itio n in th e S h e lf Mio c e n e s u b -s a lt p la y G o M S u b -S a lt Op p o rtu n ity Id e n tifie d Ne w T e c h n o lo g y D e v e lo p e d : A p p lie d to D e e p wa te r F irs t Ne w T e c h n o lo g ie sA p p lie d to S h e lf; S u b -S a lt P ro s p e c ts C a p tu re d b y G S P E

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S e is mic P ro c e s s in g Imp ro v e me n tsL e g a c y : WE M P ro c e s s in g Mo d e rn : R T M R e p ro c e s s e dB a s e o f s a lt b e tte r d e fin e dA d d itio n a l s a lt b o d y e v id e n tS e is mic e v e n ts a n d te rmin a tio n n o w id e n tifie d

Page 13: 99.1 Annual Meeting Presentation · Forwa rd L okin gS ta te men t T hisp re nta tio my ctfrw -l k gb u,f C.F -“ v,” j ,x.BOE M ’ q cons is te ntv alu eg ro wth an dothe rp

A d v a n c e me n ts in T e c h n o lo g yT e c h n o lo g y E v o lu tio n• S e is mic C a p tu re– P re v io u s ly 2 D a n d le s s a d v a n c e d 3 D s e is mic w e re u s e d to id e n tify v ia b le tra p s– L o n g e r c a b le le n g th s , a d d itio n a l g e o p h o n e s a n d o th e r e n h a n c e me n ts u tiliz e d to d a y in o rd e r to c a p tu re la rg e v o lu me s o f d a ta to a c c u ra te ly ima g e b e lo w s a lt• S e is mic P ro c e s s in g– C o mp le x p ro c e s s in g a lg o rith ms in c re a s e d a c c u ra c y , w h ic h w e re u n a v a ila b le w ith p re v io u s c o mp u te r s p e e d s– T o d a y ’s p ro c e s s in g c o s ts a re fa r lo w e r a n d mo re– a c c u ra te th a n a fe w y e a rs a g o– R e v e rs e T ime M ig ra tio n a lo n g w ith o th e r te c h n o lo g ie s u tiliz e d b y G S P E a n d in d u s try p ro v id e th e mo s t a c c u ra te v ie w o f s u b -s a lt p ro s p e c ts• In c re a s e d c la rity o f tra p• H ig h e r s p a tia l re s o lu tio n d e -ris k s p re s e n c e o f re s e rv o irs• A llo w s fo r o p tima l w e ll p la c e me n tC o mp u tin g C o s t S c a la b le P ro c e s s in g Mu lti-c o re P ro c e s s o rs K irc h h o ff M ig ra tio n Wa v e E q u a tio n M ig ra tio n B e a m Mig ra tio n R e v e rs e T ime M ig ra tio n Ima g in g C a p a b ility P a ra lle l P ro c e s s in g 1 9 8 0 s 1 9 9 0 s 2 0 0 0 s 2 0 0 5 2 0 1 2

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E x p lo rin g a P ro v e n P e tro le u m S y s te m3 5 0 MMb o e we re d is c o v e re d in th e 1 9 9 0 s in th e S h e lf Mio c e n e s u b -s a le p la y . G u lfS lo p e h a s le a s e d mu ltip le p ro s p e c ts in th is a re a e x c e e d in g 2 B b o e u s in g n e w s e is mic te c h n o lo g y T a n z a n ite ~ 3 0 MMB o e D is c o v e re d in 1 9 9 9 H ic k o ry ~ 5 3 MMB o e D is c o v e re d in 2 0 0 0 C o n g e r ~ 1 7 5 MMB o e D is c o v e re d in 2 0 0 1 E n c h ila d a ~ 4 3 MMB o e D is c o v e re d in 1 9 9 7 Ma h o g a n y ~ 4 5 MMB o e D is c o v e re d in 1 9 9 7

G S P E H ig h -B id L e a s e B lo c kP ro d u c in g S u b -S a lt F ie ld sG a s -P ro d u c in g F ie ldO il a n d G a s -P ro d u c in g F ie ld

N o te : A s s u me s G u lfS lo p e is a w a rd e d a ll h ig h -b id w o n b lo c k s fro m O ffs h o re L e a s e S a le 2 3 1 , C e n tra l G u lf o f Me x ic o , w h ic h w a s c o n d u c te d b y th e B u re a u o f O c e a n Ma n a g e me n t o n Ma rc h 1 9 , 2 0 1 4 .

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E c o n o mic s o n th e S h e lfS h e lf Mio c e n e D e v e lo p me n ts to D a te• L a rg e fie ld s : ~ 2 0 0 MMb o e n e a rb y d ire c t a n a lo g• A ll fie ld s p ro d u c e d s ig n ific a n t o il o r c o n d e n s a te• F ix e d p la tfo rm d e v e lo p me n ts• A v e ra g e 3 Y e a rs fro m d is c o v e ry to 1 s t p ro d u c tio n• D e v e lo p me n ts b e n e fit fro m e x is tin g in fra s tru c tu reA d d itio n a l U p s id e P o te n tia l• Mo d e rn d rillin g – a c c e s s mu ltip le , d e e p e r ta rg e ts th a n in th e 1 9 9 0 s• S u b s e a c o mp le tio n /tie b a c k to a d d itio n a l fa c ilitie s s e rv in g d e e p w a te r• S y n e rg ie s w ith o ffs e t fie ld s – e x te n d s o ffs e t fie ld ’s life a n d re d u c e s G S P E th ro u g h p u t c o s tsD e v e lo p me n t T ime lin e : D is c o v e ry to 1 s t P ro d u c tio nD e e p w a te r E x p lo ra tio n D rillin g A p p ra is a l D rillin g P e rmittin g C o n s tru c tio n & D e v e lo p me n t D rillin g = /-9 y e a rs 1 S h e lf = /-3 y e a rs(1 ) B a s e d o n Wo o d Ma c k e n z ie “ H ig h v a lu e in d e e p w a te r G u lf o f Me x ic o ’s ris k ie r a s s e ts ” d a te d Ma rc h 2 0 1 3

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G u lfS lo p e E n e rg yü P u re G u lf o f Me x ic o e x p lo ra tio n e x p o s u reü Mu lti-y e a r d rillin g p o rtfo lio w ith 2 B illio n b o e o f p o te n tia l re c o v e ra b le re s o u rc e s *ü L a rg e p ro s p e c ts in s h a llo w w a te r (< 1 ,0 0 0 ft o f w a te r d e p th ) c a n g e n e ra te v e ry a ttra c tiv e re tu rn s fo r s h a re h o ld e rsü O il a n d c o n d e n s a te p ro n e a re a u n d e re x p lo re dü P ro v e n e x e c u tiv e s w ith s tro n g h is to ry o f v a lu e c re a tio nü Ma n a g e me n t & te c h n ic a l te a m fu lly a lig n e d w ith in v e s to rsü G u lfS lo p e is w e ll p o s itio n e d a s in d u s try re tu rn s to th e S h e lf M io c e n e s u b -s a lt p la y(1 ) B a s e d o n in te rn a l c o mp a n y e s tima te s o f p o te n tia l re c o v e ra b le re s o u rc e s th a t d o n o t c o mp ly w ith S E C O il & G a s In d u s try D is c lo s u re s . A s s u me s G u lfS lo p e is a w a rd e d a ll b lo c k s it w a s th e h ig h b id d e r o n a t th e O ffs h o re L e a s e S a le 2 3 1 , C e n tra l G u lf o f Me x ic o , w h ic h w a s c o n d u c te d b y th e B u re a u o f O c e a n Ma n a g e me n t o n Ma rc h 1 9 , 2 0 1 4 .

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T hank Y ou G ulfS lope E nergy E xploring the G ulf of Mexico G ulfS lope.com O T C B B : G S P E B rady R odgers V ice P resident 281.918.4110 [email protected]

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