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 > Update is in

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Comment by nikeherculeson Nov 14, 2013 5:10pm

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Post# 21907444

RE:RE:Update is in

Senlac production is still down 340 barrels despite the Phase H failure (2737 Sept - (2247 Oct + 150 barrels missing). Is this natural decline?

McKay production is actually up 241 barrels if you add back in the 150bbl/day for 1p2 being offline.

Senlac is dropping, McKay is slowly ramping up....and the repair bills are on the AMEX.

Does my logic make sense?

I don't think we're headed to the 30's (gulp). But Senlac is no longer the reliable backstop for STP and we're now more dependent on the green shoots from McKay for the next 6 months until Phase L comes online. That $18 million has probably been spent.

Any comments?

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