GulfSlope Energy (GSPE) 10-Q/A30 Dec 132013 Q3 Quarterly report (amended)Financial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Jun. 30, 2013	Aug. 14, 2013
Document and Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'true	'
Document Period End Date	30-Jun-13	'
Entity Registrant Name	'GULFSLOPE ENERGY, INC.	'
Entity Central Index Key	'0001341726	'
Current Fiscal Year End Date	'--09-30	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	569,166,666
Amendment Description	'	'
	EXPLANATORY NOTE

	GulfSlope Energy, Inc. (the "Company," "we," or "our" unless the context indicates otherwise) is filing this Amendment No. 1 on Form 10-Q (this "Amendment") to our Quarterly Report on Form 10-Q for the three months ended June 30, 2013, as filed on August 14, 2013 (the "Original Filing"), to correct the comparative balance sheet information as of June 30, 2013, the statement of operations for the three months and nine months ended June 30, 2013, and the statement of cash flows for the nine months ended June 30, 2013 to reflect impairment of previously capitalized Exploration Costs. This correction resulted in the recording of of $1,959,128 and $14,542,055 impairment of oil and natural gas properties for the three months and nine months ended June 30, 2013, respectively, resulting in an increase in the net loss for the same amount for those periods. Per these changes, this Amendment includes the Restated Financial Statements and changes to the "Results of Operations" and "Liquidity and Capital Requirements" sections in "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Item 4. Controls and Procedures." This Amendment on Form 10-Q/A only amends the Original Filing as noted above. This Amendment does not affect any other parts of or exhibits to the Original Filing, and no other information in the Original Filing, including the fiscal year ended September 30, 2012 financial statements or related notes to those financial statements, are amended hereby. Except for the amendments described above, this Amendment on Form 10-Q/A continues to describe conditions as of the date of the Original Filing, and the disclosures contained herein have not been updated to reflect events, results or developments that occurred after the Original Filing, or to modify or update those disclosures affected by subsequent events. Among other things, forward-looking statements made in the Original Filing have not been revised to reflect events, results or developments that occurred or facts that became known to us after the date of the Original Filing, and such forward-looking statements should be read in their historical context. Additionally, in connection with the filing of this Form 10-Q/A and pursuant to Securities and Exchange Commission ("SEC") rules, we are including currently dated certifications.

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Jun. 30, 2013	Sep. 30, 2012
Current Assets	'	'
Cash	$465,305	$423,009
Restricted cash	2,500,124	'
Prepaid Expenses	7,876	329,373
Total Current Assets	2,973,305	752,382
Property, Plant, and Equipment (net)	65,326	'
Other Non-Current Assets	18,760	'
Total Non-Current Assets	84,086	'
Total Assets	3,057,391	752,382
Current Liabilities	'	'
Accounts Payable	1,806,047	31,731
Related Party Payable	210,000	'
Accrued Expenses and Other Payables	1,558,190	'
Loan from Related-Party	5,200,000	31,183
Total Current Liabilities	8,774,237	62,914
Accrued Expenses and Other Payables, Net of Current Portion	5,003,065	'
Total Liabilities	13,777,302	62,914
Stockholders' Equity (Deficit)	'	'
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares none issued or outstanding	'	'
Common Stock; par value ($0.001); Authorized 750,000,000 shares; 541,666,666 and 235,150,000 issued and outstanding, respectively	541,667	235,150
Additional Paid-in-capital - shares to be issued	2,100,000	'
Additional Paid-in-capital	4,910,260	2,151,610
Deficit accumulated during the exploration stage	-18,271,838	-1,697,292
Total Stockholders' Equity (Deficit)	-10,719,911	689,468
Total Liabilities and Stockholders' Equity (Deficit)	$3,057,391	$752,382

Condensed_Balance_Sheets_Paren

Condensed Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2013	Sep. 30, 2012
Condensed Balance Sheets [Abstract]	'	'
Preferred Stock, par value per share	$0.00	$0.00
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value per share	$0.00	$0.00
Common Stock, shares authorized	750,000,000	750,000,000
Common Stock, shares issued	541,666,666	235,150,000
Common Stock, shares outstanding	541,666,666	235,150,000

Condensed_Statements_of_Operat

Condensed Statements of Operations (USD $)	3 Months Ended		9 Months Ended		115 Months Ended
Condensed Statements of Operations (USD $)	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Condensed Statements of Operations [Abstract]	'	'	'	'	'
Revenues	'	'	'	'	$9,694
Revenues from Related Parties	'	'	'	'	2,346
Total Revenue	'	'	'	'	12,040
Cost of Sales	'	'	'	'	8,394
Cost of Sales to Related Parties	'	'	'	'	2,101
Total Cost of Sales	'	'	'	'	10,495
Gross Profit	'	'	'	'	1,545
Impairment of Oil and Natural Gas Property	1,959,128	'	14,542,055	'	14,542,055
General & Administrative Expenses	477,138	1,108,947	1,997,323	1,215,946	3,679,846
Net Loss from Operations	-2,436,266	-1,108,947	-16,539,378	-1,215,946	-18,221,901
Other Income/(Expenses):	'	'	'	'	'
Interest Income	124	'	124	'	124
Interest Expense	-35,292	-60	-35,292	-60	-50,806
Net Loss Before Income Taxes	-2,471,434	-1,109,007	-16,574,546	-1,216,006	-18,271,038
Provision for Income Taxes	'	'	'	'	-800
Net Loss	($2,471,434)	($1,109,007)	($16,574,546)	($1,216,006)	($18,271,838)
Loss Per Share - Basic and Diluted	($0.01)	($0.02)	($0.05)	($0.04)	'
Weighted Average Shares Outstanding - Basic and Diluted	538,298,351	64,996,154	336,199,450	34,243,248	'

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	9 Months Ended		115 Months Ended
Condensed Statements of Cash Flows (USD $)	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Cash From Operating Activities	'	'	'
Net Loss	($16,574,546)	($1,216,006)	($18,271,838)
Adjustments to reconcile net income/loss to net cash From Operating Activities:	'	'	'
Impairment of Oil and Natural Gas Property	14,542,055	'	14,542,055
Depreciation	1,928	'	10,834
Stock Issued for Services	160,000	1,350,000	1,510,000
Changes in Operating Assets and Liabilities:	'	'	'
(Increase)/Decrease in Prepaid Expenses and Other Assets	302,737	-483,125	-26,636
Increase/(Decrease) in Accounts Payable	121,845	22,027	153,577
Increase/(Decrease) in Accrued Expenses	131,520	'	131,520
Increase/(Decrease) in Related Party Payable	210,000	-1,619	252,205
Net Cash From Operating Activities	-1,104,461	-328,723	-1,698,283
Cash From Investing Activities	'	'	'
Exploration Costs	-4,024,682	'	-4,024,682
Purchase of Equipment	-67,254	'	-74,660
Net Cash From Investing Activities	-4,091,936	'	-4,099,342
Cash From Financing Activities	'	'	'
Loan from Shareholders	5,200,000	7,200	5,241,769
Payment on Loan from Shareholders	-31,183	-7,200	-72,952
Restricted Cash	-2,500,124	'	-2,500,124
Proceeds from Stock Issuances	470,000	791,500	1,384,237
Proceeds from sale of stock (to be issued)	2,100,000	'	2,210,000
Net Cash From Financing Activities	5,238,693	791,500	6,262,930
Net Increase/(Decrease) in cash	42,296	462,777	465,305
Beginning Cash Balance	423,009	87,505	'
Ending Cash Balance	465,305	550,282	465,305
Supplemental Schedule of Cash Flow Activities	'	'	'
Cash Paid for Income Taxes	'	'	800
Cash paid for Interest	'	60	11,356
Related Party Debt Forgiveness	'	'	11,023
Stock Issued for Prepaid Expenses	'	550,000	550,000
Property contributed by shareholder	'	'	1,500
Purchases of Development Capital Expenditures Through Issuance of Common Stock	2,435,167	'	2,435,167
Included in Accrued Expenses	6,429,735	'	6,429,735
Included in Accounts Payable	$1,652,471	'	$1,652,471

ORGANIZATION_AND_NATURE_OF_BUS

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
ORGANIZATION AND NATURE OF BUSINESS	Jun. 30, 2013
ORGANIZATION AND NATURE OF BUSINESS [Abstract]	'
ORGANIZATION AND NATURE OF BUSINESS	'
	NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS

	GulfSlope Energy, Inc. (the "Company," "GulfSlope," "our" and words of similar import), a Delaware corporation, is an independent energy company intent upon engaging in the acquisition, exploration, exploitation, development and production of crude oil and natural gas properties. To this end, the Company entered the exploration stage on March 22, 2013 when it executed a master license agreement with TGS-NOPEC Geophysical Company ("TGS") to license certain seismic data for the purposes of engaging in the exploration of oil and natural gas.

BASIS_OF_PRESENTATION_AND_SIGN

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2013
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

	Restatement of June 30, 2013 Quarterly Results

	The Company determined that previously capitalized geological and geophysical costs ("G&G costs") (presented within the consolidated balance sheet as "Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties") that were properly capitalized in accordance with full cost method accounting rules, should not be excluded from the depletion base as originally accounted for in accordance with the full cost rules defined in Regulation S-X Rule 4-10. As a result of including these G&G costs within the depletion base of the full cost pool the capitalized costs were effectively impaired since the Company did not yet own the specific leasehold properties or have established proven reserves. Though the Company determined that these G&G costs have provided value to the Company in identifying specific unevaluated properties it will attempt to acquire, accounting guidance requires the G&G costs to be included in the depletion base since the specific unevaluated properties had not been acquired by the Company as of the date these G&G costs were capitalized. Once the specific unevaluated properties are acquired by the Company, the cost of their acquisition and subsequent G&G costs, if any, that are directly associated with the acquired unevaluated properties will be capitalized within the full cost pool and excluded from the depletion base until proven reserves are established.

	As the Company did not have any specific and owned unevaluated properties as of June 30, 2013, the G&G costs are subject to the ceiling limitation test, resulting in immediate impairment. As a result, in the quarterly filing for June 30, 2013, operating expenses were understated in the amount of the previously capitalized G&G costs $1,959,128 and $14,542,055 for the three months and six months ended June 30, 2013, respectively. As a result, all previously capitalized G&G costs are impaired and reflected on the Company's statement of operations as Impairment of Oil and Natural Gas Properties. Therefore, the Company is adjusting its previously reported March 31, 2013, balance sheet, statements of operations and cash flows in this restated June 30, 2013 quarterly filing.

	The following table reflects the impact of the above corrections to the condensed balance sheet as of June 30, 2013:

		As of June 30, 2013
		As Reported			Adjustments			As Restated

	Oil and natural gas properties, full cost method of accounting, unproved properties	$	14,542,055		$	(14,542,055	)	$	-
	Total Assets		17,599,446			(14,542,055	)		3,057,391
	Deficit accumulated during the exploration stage		(3,729,783	)		(14,542,055	)		(18,271,838	)
	Total Stockholders' Equity (Deficit)		3,822,144			(14,542,055	)		(10,719,911	)
	Total Liabilities & Stockholders' Equity (Deficit)		17,599,446			(14,542,055	)		3,057,391

	The following table reflects the impact of the above corrections to the condensed statement of operations for the three months ended June 30, 2013:

		Three Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Impairment of Oil and Natural Gas Properties	$	-		$	1,959,128		$	1,959,128
	Net Loss		(512,306	)		(1,959,128	)		(2,471,434	)
	Loss Per Share - Basic & Diluted	$	(0.01	)	$	(0.01	)	$	(0.01	)
	Weighted Average Shares Outstanding - Basic and Diluted		538,298,351			538,298,351			538,298,351


	The following tables reflect the impact of the above corrections to the statement of operations for the nine months ended June 30, 2013:

		Nine Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Impairment of Oil and Natural Gas Properties	$	-		$	14,542,055		$	14,542,055
	Net Loss		(2,032,491	)		(14,542,055	)		(16,574,546	)
	Loss Per Share - Basic & Diluted	$	(0.01	)	$	(0.04	)	$	(0.05	)
	Weighted Average Shares Outstanding - Basic and Diluted		336,199,450			336,199,450			336,199,450


	The following table reflects the impact of the above corrections to the condensed statement of cash flows for the nine months ended June 30, 2013:

		Nine Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Net Loss	$	(2,032,491	)	$	(14,542,055	)	$	(16,574,546	)
	Impairment of Oil and Natural Gas Properties		-			14,542,055			14,542,055

	Presentation

	The condensed financial statements included herein are unaudited. However, these condensed financial statements include all adjustments (consisting of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of financial position, results of operations and cash flows for the interim periods. The results of operations for interim periods are not necessarily indicative of the results to be expected for an entire year. The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the Company's condensed financial statements and accompanying notes. Actual results could differ materially from those estimates.

	Certain information, accounting policies, and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been omitted in this Form 10-Q pursuant to certain rules and regulations of the Securities and Exchange Commission ("SEC"). The condensed financial statements should be read in conjunction with the audited financial statements for the year ended September 30, 2012, which were included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2012.

	Cash and Cash Equivalents

	GulfSlope considers highly liquid investments with insignificant interest rate risk and original maturities to the Company of three months or less to be cash equivalents. Cash equivalents consist primarily of interest-bearing bank accounts and money market funds. The Company's cash positions represent assets held in checking and money market accounts. These assets are generally available on a daily or weekly basis and are highly liquid in nature.

	Liquidity/Going Concern

	We have incurred accumulated losses for the period from inception to June 30, 2013 of $18,271,838. Further losses are anticipated in developing our business. As a result, our auditors have expressed substantial doubt about our ability to continue as a going concern. As of June 30, 2013, we had $465,305 of unrestricted cash on hand. The Company estimates that it will need to raise a minimum of $20 million to fund operations through December 31, 2013, and likely significantly more capital to meet its obligations during the subsequent 12 months. The Company plans to finance the Company through best-efforts equity and/or debt financings. The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Full Cost Method

The Company uses the full cost method of accounting for oil and gas exploration and development activities. Under the full cost method of accounting, all costs associated with the exploration for and development of oil and gas reserves are capitalized on a country-by-country basis into a single cost center ("full cost pool"). Such costs include land acquisition costs, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling both productive and non-productive wells and overhead charges directly related to acquisition, exploration and development activities.

The costs of unproved properties and related capitalized costs (such as G&G costs) are withheld from the depletion base until such time as they are either developed or abandoned. When proved reserves are assigned or the property is considered to be impaired, the cost of the property or the amount of the impairment is added to costs subject to depletion and full cost ceiling calculations. Further, capitalized G&G costs that are directly associated with unevaluated properties not yet owned by the Company are included in the depletion base. As of June 30, 2013, the Company had no proved reserves, nor any unevaluated properties. As a result, the geological and geophysical costs are included in the amortization base as incurred and, per Rule 4-10, are subject to the ceiling limitation test, resulting in immediate impairment.

Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve month period. The ceiling limits such pooled costs to the aggregate of the present value of future net revenues attributable to proved crude oil and natural gas reserves discounted at 10% plus the lower of cost or market value of unproved properties less any associated tax effects. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depreciation, depletion and amortization rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling.

(e) Capitalized Interest

Interest is capitalized on the cost of unevaluated gas and oil properties that are excluded from amortization and actively being evaluated, if any.

Recent Accounting Pronouncements

The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

EXPLORATION_COSTS

EXPLORATION COSTS	9 Months Ended
EXPLORATION COSTS	Jun. 30, 2013
EXPLORATION COSTS [Abstract]	'
EXPLORATION COSTS	'
	NOTE 3 - EXPLORATION COSTS

	On March 20, 2013, the Company entered into an assignment and assumption agreement (the "Assignment Agreement") with third parties pursuant to which the Company was assigned the exclusive right to license certain seismic data from TGS. On March 22, 2013, the Company executed a master license agreement with TGS. In consideration for the assignment and other transactions contemplated by the Assignment Agreement, the Company agreed to issue to the assignor parties an aggregate of 243,516,666 shares of the Company's common stock. The common stock was valued at $2,435,167 and the shares were subsequently issued in April 2013. A portion of these costs were included in accrued expenses as of June 30, 2013.

	In March 2013, the Company licensed certain seismic data from TGS. The seismic data license fee totaled $6,135,500.

	In March 2013, the Company licensed certain seismic data from a different seismic company pursuant to another ordinary business course agreement. The seismic data purchase totaled $4,012,260.

	During May 2013, the Company incurred $90,000 in costs to participate in a geophysical research program with a public institution.

	During May and June 2013, the Company incurred $1,562,470 in costs associated with technological infrastructure and third party hosting services to maintain the aforementioned seismic data.
	During May and June 2013, the Company incurred $306,658 in consulting fees and salaries and benefits associated with full-time employed geoscientists analyzing the aforementioned seismic data.

	The Company properly capitalized these G&G costs and included them in the depletion base because the Company did not yet own the specific unevaluated properties these costs related to. Therefore, these G&G costs were subject to the ceiling limitation test, resulting in immediate impairment for accounting purposes.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2013
RELATED PARTY TRANSACTIONS [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	NOTE 4 - RELATED PARTY TRANSACTIONS

	In May 2013, James Askew resigned as the Company's Chief Executive Officer. Simultaneously, John Seitz was appointed Chief Executive Officer and Chairman of the board of directors.

	During April through June 2013, the Company entered into convertible promissory notes whereby it borrowed $5,200,000 from its current Chief Executive Officer. The notes are due on demand, bear interest at the rate of 5% per annum, and are convertible into shares of common stock at a conversion price equal to $0.12 per share of common stock. The conversion price is equal to the most recent sale of the Company's stock (see Note 5 below).

	In May 2013, the Company's current Chief Executive Officer opted to convert $1,200,000 of the aforementioned debt into 10,000,000 shares of common stock pursuant to the aforementioned convertible promissory notes. The shares were not issued as of June 30, 2013 and were subsequently issued in July 2013.

COMMON_STOCKPAID_IN_CAPITAL

COMMON STOCK/PAID IN CAPITAL	9 Months Ended
COMMON STOCK/PAID IN CAPITAL	Jun. 30, 2013
COMMON STOCK/PAID IN CAPITAL [Abstract]	'
COMMON STOCK/PAID IN CAPITAL	'
	NOTE 5 - COMMON STOCK/PAID IN CAPITAL

	Effective April 2012, the Company completed a reincorporation in the State of Delaware from the State of Utah. The reincorporation was effected by the merger of Plan A with and into GulfSlope Energy, Inc., a newly formed, wholly owned Delaware subsidiary. As of the effective time of the reincorporation merger, Plan A ceased to exist as a separate entity with GulfSlope being the surviving entity. Each outstanding share of common stock of Plan A was automatically converted into one share of GulfSlope common stock. The par value of GulfSlope common stock and preferred stock changed from $0.01 per share to $0.001 per share. In addition, the number of authorized shares of common stock was increased from 50,000,000 to 750,000,000 and the number of authorized shares of preferred stock was increased from 5,000,000 to 50,000,000. These condensed financial statements and related notes give retroactive effect to the change in par value.

	During February and March 2013, the Company sold 47,000,000 shares of common stock for cash proceeds of $470,000 or $0.01 per share.

	During April 2013, the Company issued a total of 6,000,000 shares of common stock to two third parties for services rendered. The shares were valued at $60,000 based upon the most recent sale (March 2013) of stock through a private placement at a price of $0.01 per share

	During April 2013, the Company issued 10,000,000 shares of common stock to John B. Connally III as consideration for termination of a consulting agreement. The shares were valued at $100,000 based upon the most recent sale (March 2013) of stock through a private placement at a price of $0.01 per share.

	During April 2013, the Company issued 243,516,666 shares of common stock to third parties in relation to the licensing of certain seismic data (see Note 3 above). The shares were valued at $2,435,167 based upon the most recent sale (March 2013) of stock through a private placement at a price of $0.01 per share.

	During April 2013, the Company sold 16,666,667 shares of common stock for $2,000,000 cash or $0.12 per share. The shares were subsequently issued in July 2013.
	During May 2013, the Company was obligated to issue 10,000,000 shares of common stock to its Chief Executive Officer to settle $1,200,000 in debt (see Note 4 above). The shares were not issued as of June 30, 2013 and were subsequently issued in July 2013.

	During June 2013, the Company sold 833,333 shares of common stock for $100,000 cash or $0.12 per share. The shares were subsequently issued in July 2013.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2013
COMMITMENTS AND CONTINGENCIES [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 6- COMMITMENTS AND CONTINGENCIES

	Effective March 2013, the Company amended the employment agreement of James Askew to allow the Company to terminate such agreement at any time. The Company agreed to pay Mr. Askew a severance payment upon termination in the amount of up to $100,000 as reimbursement for any tax liabilities arising from salary and other compensation paid to Mr. Askew during calendar year 2012. The termination amount was accrued and not paid as of June 30, 2013.

	On March 1, 2013, the Company entered into a one-year consulting agreement with ConRon Consulting Inc. ("ConRon") whereby ConRon will assist the Company in negotiating licensing for certain seismic data, as well as provide other general consulting. Pursuant to the agreement, ConRon is paid cash compensation of $30,000 per month. It is expected that in the near future the Company will enter into an arrangement to replace the consulting agreement. As of June 30, 2013, the consulting fees for the months of March, April, and May, and June totaling $120,000 were unpaid and had been accrued.

	On March 1, 2013, the Company entered into a one-year consulting agreement with John N. Seitz, a shareholder, whereby Mr. Seitz will assist the Company in negotiating licensing for certain seismic data, as well as provide other general consulting. Pursuant to the agreement, Mr. Seitz is paid cash compensation of $40,000 per month. The agreement was terminated in May 2013, as Mr. Seitz was appointed as the Company's Chief Executive Officer and it is expected that Mr. Seitz will enter into an arrangement with the Company in the near future providing equity-based compensation.. As of June 30, 2013, the consulting fees for the months of March, April, and May totaling $120,000 were unpaid and had been accrued.

	In March 2013, the Company licensed certain seismic data pursuant to two agreements. With respect to the first agreement, as of the date of this report, the Company has paid $2,135,500 in cash, and has provided an additional $2,500,000 in an escrow account, which will be released to the vendor at a later date. This amount has been recorded as restricted cash as of June 30, 2013. The Company is obligated to provide the remaining $1,500,000 in an escrow account upon the delivery of certain additional seismic data by the vendor to the Company, which is expected to occur during the first calendar quarter of 2014. With respect to the second agreement, as of the date of this Report, the Company has paid $2,006,130 in cash and is obligated to pay $1,003,065 during April 2014 and $1,003,065 during April 2015.

	In March and April 2013, the Company agreed to issue pursuant to employment offers and non-competes an aggregate of 1,500,000 shares of common stock to two employees. To date, the shares have not been issued and are pending board approval.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2013
SUBSEQUENT EVENTS [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 7 - SUBSEQUENT EVENTS

	During July and August 2013, the Company entered into promissory notes whereby it borrowed $550,000 from its current Chief Executive Officer. The notes are due on demand, bear interest at the rate of 5% per annum, and are convertible into shares of common stock at a conversion price equal to $0.12 per share of common stock.

	During July 2013, the Company issued 16,666,667 shares of common stock for $2,000,000 cash received in April 2013 (see note 5 above).

	During July 2013, the Company issued 10,000,000 shares of common stock to its Chief Executive Officer related to the settlement of $1,200,000 in debt in May 2013 (see Note 4 above).

	During July 2013, the Company issued 833,333 shares of common stock for $100,000 received in June 2013.

BASIS_OF_PRESENTATION_AND_SIGN1

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 2013
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Restatement of June 30, 2013 Quarterly Results	'
	Restatement of June 30, 2013 Quarterly Results

	The Company determined that previously capitalized geological and geophysical costs ("G&G costs") (presented within the consolidated balance sheet as "Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties") that were properly capitalized in accordance with full cost method accounting rules, should not be excluded from the depletion base as originally accounted for in accordance with the full cost rules defined in Regulation S-X Rule 4-10. As a result of including these G&G costs within the depletion base of the full cost pool the capitalized costs were effectively impaired since the Company did not yet own the specific leasehold properties or have established proven reserves. Though the Company determined that these G&G costs have provided value to the Company in identifying specific unevaluated properties it will attempt to acquire, accounting guidance requires the G&G costs to be included in the depletion base since the specific unevaluated properties had not been acquired by the Company as of the date these G&G costs were capitalized. Once the specific unevaluated properties are acquired by the Company, the cost of their acquisition and subsequent G&G costs, if any, that are directly associated with the acquired unevaluated properties will be capitalized within the full cost pool and excluded from the depletion base until proven reserves are established.

	As the Company did not have any specific and owned unevaluated properties as of June 30, 2013, the G&G costs are subject to the ceiling limitation test, resulting in immediate impairment. As a result, in the quarterly filing for June 30, 2013, operating expenses were understated in the amount of the previously capitalized G&G costs $1,959,128 and $14,542,055 for the three months and six months ended June 30, 2013, respectively. As a result, all previously capitalized G&G costs are impaired and reflected on the Company's statement of operations as Impairment of Oil and Natural Gas Properties. Therefore, the Company is adjusting its previously reported March 31, 2013, balance sheet, statements of operations and cash flows in this restated June 30, 2013 quarterly filing.

	The following table reflects the impact of the above corrections to the condensed balance sheet as of June 30, 2013:

		As of June 30, 2013
		As Reported			Adjustments			As Restated

	Oil and natural gas properties, full cost method of accounting, unproved properties	$	14,542,055		$	(14,542,055	)	$	-
	Total Assets		17,599,446			(14,542,055	)		3,057,391
	Deficit accumulated during the exploration stage		(3,729,783	)		(14,542,055	)		(18,271,838	)
	Total Stockholders' Equity (Deficit)		3,822,144			(14,542,055	)		(10,719,911	)
	Total Liabilities & Stockholders' Equity (Deficit)		17,599,446			(14,542,055	)		3,057,391

	The following table reflects the impact of the above corrections to the condensed statement of operations for the three months ended June 30, 2013:

		Three Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Impairment of Oil and Natural Gas Properties	$	-		$	1,959,128		$	1,959,128
	Net Loss		(512,306	)		(1,959,128	)		(2,471,434	)
	Loss Per Share - Basic & Diluted	$	(0.01	)	$	(0.01	)	$	(0.01	)
	Weighted Average Shares Outstanding - Basic and Diluted		538,298,351			538,298,351			538,298,351


	The following tables reflect the impact of the above corrections to the statement of operations for the nine months ended June 30, 2013:

		Nine Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Impairment of Oil and Natural Gas Properties	$	-		$	14,542,055		$	14,542,055
	Net Loss		(2,032,491	)		(14,542,055	)		(16,574,546	)
	Loss Per Share - Basic & Diluted	$	(0.01	)	$	(0.04	)	$	(0.05	)
	Weighted Average Shares Outstanding - Basic and Diluted		336,199,450			336,199,450			336,199,450


	The following table reflects the impact of the above corrections to the condensed statement of cash flows for the nine months ended June 30, 2013:

		Nine Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Net Loss	$	(2,032,491	)	$	(14,542,055	)	$	(16,574,546	)
	Impairment of Oil and Natural Gas Properties		-			14,542,055			14,542,055

Presentation	'
	Presentation


	The condensed financial statements included herein are unaudited. However, these condensed financial statements include all adjustments (consisting of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of financial position, results of operations and cash flows for the interim periods. The results of operations for interim periods are not necessarily indicative of the results to be expected for an entire year. The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the Company's condensed financial statements and accompanying notes. Actual results could differ materially from those estimates.

	Certain information, accounting policies, and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been omitted in this Form 10-Q pursuant to certain rules and regulations of the Securities and Exchange Commission ("SEC"). The condensed financial statements should be read in conjunction with the audited financial statements for the year ended September 30, 2012, which were included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2012.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents

	GulfSlope considers highly liquid investments with insignificant interest rate risk and original maturities to the Company of three months or less to be cash equivalents. Cash equivalents consist primarily of interest-bearing bank accounts and money market funds. The Company's cash positions represent assets held in checking and money market accounts. These assets are generally available on a daily or weekly basis and are highly liquid in nature.
Liquidity/Going Concern	'
	Liquidity/Going Concern

	We have incurred accumulated losses for the period from inception to June 30, 2013 of $18,271,838. Further losses are anticipated in developing our business. As a result, our auditors have expressed substantial doubt about our ability to continue as a going concern. As of June 30, 2013, we had $465,305 of unrestricted cash on hand. The Company estimates that it will need to raise a minimum of $20 million to fund operations through December 31, 2013, and likely significantly more capital to meet its obligations during the subsequent 12 months. The Company plans to finance the Company through best-efforts equity and/or debt financings. The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Full Cost Method	'
	Full Cost Method

	The Company uses the full cost method of accounting for oil and gas exploration and development activities. Under the full cost method of accounting, all costs associated with the exploration for and development of oil and gas reserves are capitalized on a country-by-country basis into a single cost center ("full cost pool"). Such costs include land acquisition costs, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling both productive and non-productive wells and overhead charges directly related to acquisition, exploration and development activities.

	The costs of unproved properties and related capitalized costs (such as G&G costs) are withheld from the depletion base until such time as they are either developed or abandoned. When proved reserves are assigned or the property is considered to be impaired, the cost of the property or the amount of the impairment is added to costs subject to depletion and full cost ceiling calculations. Further, capitalized G&G costs that are directly associated with unevaluated properties not yet owned by the Company are included in the depletion base. As of June 30, 2013, the Company had no proved reserves, nor any unevaluated properties. As a result, the geological and geophysical costs are included in the amortization base as incurred and, per Rule 4-10, are subject to the ceiling limitation test, resulting in immediate impairment.

	Companies that use the full cost method of accounting for oil and natural gas exploration and development activities are required to perform a ceiling test calculation each quarter. The full cost ceiling test is an impairment test prescribed by SEC Regulation S-X Rule 4-10. The ceiling test is performed quarterly, on a country-by-country basis, utilizing the average of prices in effect on the first day of the month for the preceding twelve month period. The ceiling limits such pooled costs to the aggregate of the present value of future net revenues attributable to proved crude oil and natural gas reserves discounted at 10% plus the lower of cost or market value of unproved properties less any associated tax effects. If such capitalized costs exceed the ceiling, the Company will record a write-down to the extent of such excess as a non-cash charge to earnings. Any such write-down will reduce earnings in the period of occurrence and results in a lower depreciation, depletion and amortization rate in future periods. A write-down may not be reversed in future periods even though higher oil and natural gas prices may subsequently increase the ceiling.
Capitalized Interest	'
	Capitalized Interest

	Interest is capitalized on the cost of unevaluated gas and oil properties that are excluded from amortization and actively being evaluated, if any.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements

	The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position or cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

BASIS_OF_PRESENTATION_AND_SIGN2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Jun. 30, 2013
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Schedule of Error Correction of Previous Periods Financial Statements	'
	The following table reflects the impact of the above corrections to the condensed balance sheet as of June 30, 2013:

		As of June 30, 2013
		As Reported			Adjustments			As Restated

	Oil and natural gas properties, full cost method of accounting, unproved properties	$	14,542,055		$	(14,542,055	)	$	-
	Total Assets		17,599,446			(14,542,055	)		3,057,391
	Deficit accumulated during the exploration stage		(3,729,783	)		(14,542,055	)		(18,271,838	)
	Total Stockholders' Equity (Deficit)		3,822,144			(14,542,055	)		(10,719,911	)
	Total Liabilities & Stockholders' Equity (Deficit)		17,599,446			(14,542,055	)		3,057,391

	The following table reflects the impact of the above corrections to the condensed statement of operations for the three months ended June 30, 2013:

		Three Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Impairment of Oil and Natural Gas Properties	$	-		$	1,959,128		$	1,959,128
	Net Loss		(512,306	)		(1,959,128	)		(2,471,434	)
	Loss Per Share - Basic & Diluted	$	(0.01	)	$	(0.01	)	$	(0.01	)
	Weighted Average Shares Outstanding - Basic and Diluted		538,298,351			538,298,351			538,298,351


	The following tables reflect the impact of the above corrections to the statement of operations for the nine months ended June 30, 2013:

		Nine Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Impairment of Oil and Natural Gas Properties	$	-		$	14,542,055		$	14,542,055
	Net Loss		(2,032,491	)		(14,542,055	)		(16,574,546	)
	Loss Per Share - Basic & Diluted	$	(0.01	)	$	(0.04	)	$	(0.05	)
	Weighted Average Shares Outstanding - Basic and Diluted		336,199,450			336,199,450			336,199,450


	The following table reflects the impact of the above corrections to the condensed statement of cash flows for the nine months ended June 30, 2013:

		Nine Months Ended June 30, 2013
		As Reported			Adjustments			As Restated

	Net Loss	$	(2,032,491	)	$	(14,542,055	)	$	(16,574,546	)
	Impairment of Oil and Natural Gas Properties		-			14,542,055			14,542,055

BASIS_OF_PRESENTATION_AND_SIGN3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		9 Months Ended		115 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2011	Dec. 09, 2003
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'	'	'	'	'	'	'	'
Impairment of Oil and Natural Gas Property	$1,959,128	'	$14,542,055	'	$14,542,055	'	'	'
Accumulated losses	18,271,838	'	18,271,838	'	18,271,838	1,697,292	'	'
Cash	465,305	550,282	465,305	550,282	465,305	423,009	87,505	'
Capital required to meet obligations for the next 12 months	'	'	20,000,000	'	'	'	'	'
Licensed seismic data	'	'	'	'	'	'	'	'

BASIS_OF_PRESENTATION_AND_SIGN4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Schedule of Error Correction to the Balance Sheet) (Details) (USD $)	Jun. 30, 2013	Sep. 30, 2012
Oil and natural gas properties	'	'
Total Assets	3,057,391	752,382
Deficit accumulated during the exploration stage	-18,271,838	-1,697,292
Total Stockholders' Equity (Deficit)	-10,719,911	689,468
Total Liabilities & Stockholders' Equity (Deficit)	3,057,391	752,382
As Reported [Member]	'	'
Oil and natural gas properties	14,542,055	'
Total Assets	17,599,446	'
Deficit accumulated during the exploration stage	-3,729,783	'
Total Stockholders' Equity (Deficit)	3,822,144	'
Total Liabilities & Stockholders' Equity (Deficit)	17,599,446	'
Adjustments [Member]	'	'
Oil and natural gas properties	-14,542,055	'
Total Assets	-14,542,055	'
Deficit accumulated during the exploration stage	-14,542,055	'
Total Stockholders' Equity (Deficit)	-14,542,055	'
Total Liabilities & Stockholders' Equity (Deficit)	($14,542,055)	'

BASIS_OF_PRESENTATION_AND_SIGN5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Schedule of Error Correction to the Income Statement) (Details) (USD $)	3 Months Ended		9 Months Ended		115 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Impairment of Oil and Natural Gas Property	$1,959,128	'	$14,542,055	'	$14,542,055
Net Loss	-2,471,434	-1,109,007	-16,574,546	-1,216,006	-18,271,838
Loss Per Share - Basic and Diluted	($0.01)	($0.02)	($0.05)	($0.04)	'
Weighted Average Shares Outstanding - Basic and Diluted	538,298,351	64,996,154	336,199,450	34,243,248	'
As Reported [Member]	'	'	'	'	'
Impairment of Oil and Natural Gas Property	'	'	'	'	'
Net Loss	-512,306	'	-2,032,491	'	'
Loss Per Share - Basic and Diluted	($0.01)	'	($0.01)	'	'
Weighted Average Shares Outstanding - Basic and Diluted	538,298,351	'	336,199,450	'	'
Adjustments [Member]	'	'	'	'	'
Impairment of Oil and Natural Gas Property	1,959,128	'	14,542,055	'	'
Net Loss	($1,959,128)	'	($14,542,055)	'	'
Loss Per Share - Basic and Diluted	($0.01)	'	($0.04)	'	'
Weighted Average Shares Outstanding - Basic and Diluted	538,298,351	'	336,199,450	'	'

BASIS_OF_PRESENTATION_AND_SIGN6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Schedule of Error Correction to the Cash Flow Statement) (Details) (USD $)	3 Months Ended	9 Months Ended	115 Months Ended
	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013
Net Loss	($2,471,434)	($16,574,546)	($18,271,838)
Impairment of Oil and Natural Gas Property	1,959,128	14,542,055	14,542,055
As Reported [Member]	'	'	'
Net Loss	-512,306	-2,032,491	'
Impairment of Oil and Natural Gas Property	'	'	'
Adjustments [Member]	'	'	'
Net Loss	-1,959,128	-14,542,055	'
Impairment of Oil and Natural Gas Property	$1,959,128	$14,542,055	'

EXPLORATION_COSTS_Details

EXPLORATION COSTS (Details) (USD $)	Mar. 31, 2013	Mar. 31, 2013	31-May-13	Jun. 30, 2013	Jun. 30, 2013	Mar. 22, 2013
EXPLORATION COSTS (Details) (USD $)	License Fee [Member]	Seismic Data Purchase [Member]	Geophysical Research Program [Member]	Technological Infrastructure And Third Party Hosting Services [Member]	Consulting Fees And Salaries And Benefits [Member]	TGS [Member]
Deferred Costs, Capitalized, Prepaid And Other Assets [Line Items]	'	'	'	'	'	'
Shares issued in consideration for seismic data	'	'	'	'	'	243,516,666
Exploration costs capitalized during the period	$6,135,500	$4,012,260	$90,000	$1,562,470	$306,658	$2,435,167

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	Jun. 30, 2013	Apr. 30, 2013	Jun. 30, 2013	Jun. 30, 2013	Aug. 31, 2013
	Subsequent Event [Member]	Subsequent Event [Member]	John N. Seitz [Member]	John N. Seitz [Member]	John N. Seitz [Member]
				Subsequent Event [Member]	Subsequent Event [Member]
Related Party Transaction [Line Items]	'	'	'	'	'
Note payable from related party, original amount	'	'	$5,200,000	'	$550,000
Interest rate	'	'	5.00%	'	5.00%
Debt conversion, price per share	$0.12	$0.12	$0.12	'	$0.12
Stock issued for debt	'	'	'	$1,200,000	'
Conversion of notes payable, shares	'	'	'	10,000,000	'

COMMON_STOCKPAID_IN_CAPITAL_De

COMMON STOCK/PAID IN CAPITAL (Details) (USD $)

1 Months Ended

2 Months Ended

9 Months Ended

115 Months Ended

1 Months Ended

2 Months Ended

Apr. 30, 2013

Mar. 31, 2013

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Sep. 30, 2012

Apr. 30, 2012

Jun. 30, 2013

Apr. 30, 2013

Jun. 30, 2013

Aug. 31, 2013

Subsequent Event [Member]

John B. Connally III [Member]

Third Party [Member]

John N. Seitz [Member]

Subsequent Event [Member]

Common Stock Issuance [Line Items]

Common Stock, shares authorized

750,000,000

50,000,000

Common Stock, par value per share

$0.00

$0.01

Preferred Stock, shares authorized

50,000,000

5,000,000

Preferred Stock, par value per share

$0.00

$0.01

Shares of stock issued for services

6,000,000

10,000,000

Price per share

$0.01

Value of stock issued for services

$60,000

$100,000

Shares of stock issued for property

243,516,666

Value of stock issued for property

2,435,167

Proceeds from issuance of common stock

470,000

791,500

1,384,237

100,000

2,000,000

Shares of common stock issued for cash

47,000,000

833,333

16,666,667

Shares issued for conversion of debt

$1,200,000

Shares issued from conversion of convertible debt

10,000,000

Note payable, conversion price

$0.12

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	1 Months Ended				4 Months Ended	1 Months Ended	4 Months Ended
	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2013	Apr. 30, 2013
	TGS [Member]	Nonspecified Siesmic Company [Member]	James Askew [Member]	ConRon [Member]	ConRon [Member]	John N. Seitz [Member]	John N. Seitz [Member]	Two Nonspecified Employees Member
Purchase Commitment, Excluding Long-term Commitment [Line Items]	'	'	'	'	'	'	'	'
Severance pay	'	'	$100,000	'	'	'	'	'
Consulting fees	'	'	'	30,000	120,000	40,000	120,000	'
Payments for exploration costs	2,135,500	2,006,130	'	'	'	'	'	'
Payments for escrow deposits	2,500,000	'	'	'	'	'	'	'
Remaining amount obligated to escrow by end of April, 2013	1,500,000	'	'	'	'	'	'	'
Payment due during April 2014	'	1,003,065	'	'	'	'	'	'
Payment due during April 2015	'	$1,003,065	'	'	'	'	'	'
Share issuance, pending board approval	'	'	'	'	'	'	'	1,500,000

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	1 Months Ended	2 Months Ended	9 Months Ended		115 Months Ended		1 Months Ended		2 Months Ended
	Apr. 30, 2013	Mar. 31, 2013	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013	Apr. 30, 2013	Jun. 30, 2013	Aug. 31, 2013
						John N. Seitz [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
									John N. Seitz [Member]	John N. Seitz [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'	'
Shares of common stock issued for cash	'	47,000,000	'	'	'	'	833,333	16,666,667	'	'
Proceeds from issuance of common stock	'	$470,000	$470,000	$791,500	$1,384,237	'	$100,000	$2,000,000	'	'
Shares of stock issued for services	6,000,000	'	'	'	'	'	'	'	'	'
Value of stock issued for services	60,000	'	'	'	'	'	'	'	'	'
Note payable from related party, original amount	'	'	'	'	'	5,200,000	'	'	'	550,000
Note payable, interest rate	'	'	'	'	'	5.00%	'	'	'	5.00%
Note payable, conversion price	'	'	'	'	'	$0.12	$0.12	$0.12	'	$0.12
Shares issued for conversion of debt	'	'	'	'	'	'	'	'	$1,200,000	'
Shares issued from conversion of convertible debt	'	'	'	'	'	'	'	'	10,000,000	'