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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 deductionon May 10, 2013 11:37am
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Post# 21363077

RE: New Presentation Charts for McKay

RE: New Presentation Charts for McKay

The best pair according to the conference call is the one in the presentation on page 13 (2P3). Looks to be about 400 bbl/d or 1/3 of the total production. It also looks to be taking steam nicely since april and about to show the result of that in production. Based on the rate of change I see it should show 20% gain in the next month easily. This well is still only running at 1/2 throttle as it was designed to take about 2800 -3500 bbl/d of steam but is currently at 1600 bbl/d. So what I'm saying is this well pair looks like it should do close to the 1000 bbl/d of oil forecasted when fully ramped up.

The conference call also mentioned that they have not seen any shale bariers or theif zones so this gives me some comfort that the other wells should fall in line with the 2P3 example. Its painfully slow but I have more confidence than last month.

Deduction

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