Southern Pacific Resource Corp STPJF

Energy Oil & Gas E&P

Southern Pacific Resource Corp. is a Canada-based company, which is engaged in the thermal production of heavy oil in Senlac, Saskatchewan on a property known as STP-Senlac, and thermal production of bitumen on a property located in the Athabasca region of Alberta known as STP-McKay, as well as exploration for and development of in-situ oil sands in the Athabasca region of Alberta. Its STP-McKay property consists of oil sands leases totaling approximately 37,760 acres. The Company’s operations also include Anzac, Hangingstone and Ells. The Company’s STP-McKay property is located approximately 45 kilometers northwest Ft. McMurray. The Anzac project covers approximately 117 kilometers of two-dimensional (2D) seismic. The Company owns 80% interest in Hangingstone project. The Ells project covers approximately 164 kilometers of two-dimensional (2D) seismic.

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Southern Pacific Resource Corp

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Post by awol1on Sep 12, 2008 11:48pm

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Post# 15453801

thanks ZBankers

Thanks for the info ZBankers. The Scotia seller dropped 20K shares around 3:30 it seems at whatever the ask was. Who knows if it was an effort to drop the share price before The past little bit TD has bought quite a few shares, not just today. Who knows if its the same group or person buying. I wish i had bought at 35cents instead of hanging on at lot higher of an average. No choice not but to ride it out instead of taking a big loss.
I've sent emails to Lutes in the past, he responded to the first couple and i posted it on STP. If i recall correctly, he said that STP had enough cash on hand and that the market was causing the share price to decline. He said that they would be doing things in the future to bring attention to STP and that it should return to previous share price levels. This was awhile back. I don't know which levels, but you would be nicely rewarded if for some reason STP went back into the several dollar range. He also said that there was nothing wrong with the company. This is echoed by the fact he has bought more shares and it doesn't look like anyone has sold that i recall.
I think it was LG who mentioned in previous posts that STP was going to take the show on the road to tell the market/investors about STP. I think LG also indicated that there should be an update coming out on the reserves.
I also believe that the stock popped to $4 a year ago and then slowly declined after the tests results came back less than what they expected. Right around the time the ROH acquisition was announced the SP continued to decline. I would have thought that this may have caused interest in the company to increase and a climb in share prices, but i guess the market and/or buyers weren't that impressed. Then the concerns about the US issues affected numerous stocks and STP. Here we are at 35 cents.
I've sent a couple of emails to Lutes in the past couple of months, but have not received any replies.
Perhaps since you are a new face he or someone else at STP may answer any questions you pose to them.
There was an increased volume in STP in the past couple of weeks, but it seems to have declined again.
Hopefully as confidence comes back into the market, people will start looking at STP again, we can only hope.
I can't see too much of a downside for you here. Sorry for the long ramble, but just trying to pass along my thoughts so far. Good luck to all.
I don't know if LG has any comments, or future insight, he posts here a lot and it would appear he has a significant interest in STP.

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