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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Post by deductionon May 15, 2013 5:11pm

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Post# 21400837

Take a deep breath

Take this for what its worth (which is free). I work for another oilsand operator (rhymes with Funcor) and I have many many years experience as a engineer. STP has said all the right things in terms of reservoir (no theif zones, barriers, water etc). Not being able to use pressure as a tool to build conformance is not unique - SU had the same problems starting up McKay - it was -well just like what you think you see here - but it is now one of the best SAGD operations around. Technically there are no red flags. Making money takes courage to go contrary to the heard especially when the heard is only basing their decisions on fear of failure. Take a deep breath and keep the big picture in mind.

Deduction

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