From the 11:30 AM Outlook:

SATELLITE IMAGES...ALONG WITH SHIP AND BUOY REPORTS...INDICATE THE
LOW PRESSURE AREA IN THE CENTRAL GULF OF MEXICO MAY BE ORGANIZING
INTO A TROPICAL CYCLONE. SHOWERS AND THUNDERSTORMS HAVE DEVELOPED
NEAR THE SURFACE CENTER THIS MORNING...AND WIND GUSTS TO TROPICAL
STORM FORCE HAVE BEEN REPORTED.

I notice that they haven't mentioned in the last few discussions that this is part of the remnants of Ivan. Sounds like they want to get away from that name entirely.

Looks to this untrained eye like the circulation is around 27N 88W which is just southeast of the convection.