GulfSlope Energy Is Apparent High Bidder on 3 Offshore Gulf of Mexico Federal Lease Blocks

HOUSTON, TX -- (Marketwired) -- 03/19/15 -- GulfSlope Energy (OTCQB: GSPE) ("GulfSlope or the "Company"), an independent oil and natural gas company focused on exploring offshore U.S. Gulf of Mexico, today announced the results of its participation in offshore lease sale 235, central Gulf of Mexico, conducted by the Bureau of Ocean Management (BOEM).

GulfSlope was apparent high bidder on 3 out of 4 bids. The sum of the high bids is $428,600. 

GulfSlope bid on all blocks at 100% working interest. All bid blocks are located on the outer shelf and upper slope of the offshore Gulf of Mexico, in water depths of less than 1000'.

The blocks with GulfSlope high bids are as follows:

  1. Vermillion South Addition Block 378
  2. Ship Shoal South Addition Block 285
  3. Grand Isle South Addition Block 102

All bids are subject to review and final approval by the BOEM, which may take up to 120 days before award decision, and there can be no assurance of receiving BOEM approval.

John Seitz, Chairman and Chief Executive Officer, commented, "These 3 lease blocks in our core area, upon award, will add to our existing portfolio of high impact exploration opportunities."

About GulfSlope Energy

GulfSlope Energy is an independent oil and natural gas company focused on exploring offshore U.S. Gulf of Mexico. To learn more, visit the GulfSlope Energy website at www.GulfSlope.com.

Investor Relations Contact
Derek Gradwell
SVP Natural Resources
MZ Group North America
Phone: 512-270-6990
Email: dgradwell@mzgroup.us 
Web: www.mzgroup.com

Source: GulfSlope Energy, Inc.