HOUSTON, TX--(Marketwire - Mar 28, 2013) - GulfSlope Energy, Inc. (OTCQB: [ GSPE ]), announced that on March 22, 2013 we entered into a Master License Agreement with TGS-NOPEC Geophysical Company ("TGS"), under which we have certain rights to license and use 3,457 sq km of 3D seismic data. TGS will perform advanced processing of this data for us. With our entry into this license agreement and the completion of the processing, we intend to engage in the exploration, development, and production of oil and natural gas. We expect to focus our exploration activities in proven basins utilizing and incorporating recent advances in the oil and gas industry's seismic image acquisition, processing and interpretation technologies. We plan to give preference to areas where production infrastructure already exists, which we believe will allow for discoveries to be developed quicker and less expensively, with the goal to reduce economic risk while increasing financial reward. Where strategically and economically advantageous, we may purchase attractive legacy fields, where deeper and/or additional hydrocarbon potential may exist.

"Our agreement with TGS is the critical first step in acquiring and reprocessing seismic data to allow us to strategically enter the exploration field and we are in the process of identifying and organizing a world class team to execute our business strategy," said James Askew, President and Chief Executive Officer.

"TGS is excited to be the data provider of choice providing GulfSlope with advanced, high-quality data to facilitate their exploration activities," stated Rod Starr, Senior Vice President Western Hemisphere for TGS.

Forward-Looking Information

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