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.

GREY:STPJF - Post by User

Southern Pacific Resource Corp

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Comment by kavephishon Sep 22, 2011 12:00pm

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Post# 19072052

RE: down .14

decent news came out yesterday, and there is good news on the way. STP-McKay 2 applicatioin will be submitted this fall, and other projects have increased production or are in the testing phase. STP is fully funded for McKay1, with credit left over. All the oil co's are taking a beating today...SU, COS, HSE etc. This bloodbath is a buying opportunity, and your $1.40 entry is fine as the business plan hasn't changed. Yes, oil is down in the last few weeks and will hurt this quarter's bottom line, but per the podcast STP is still profitable until at least $65 WTI, possibly a bit lower than that. I cannot see OPEC supporting $65 oil for very long - they have bills to pay too.

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What is the gold outlook for the rest of 2024?