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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 > Scurvy be damned!!!
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Comment by freedom45on May 09, 2014 10:33am
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Post# 22543459

RE:RE:RE:RE:RE:Scurvy be damned!!!

RE:RE:RE:RE:RE:Scurvy be damned!!!R we reading this paragraph correctly. The first half talks about finalizing the install at $10M cost. The second half talks about the next phase or several more after the $10M install from how I read it. Wishful thinking or ?...................... The Company has plans to install additional ICD configurations on certain well pairs at McKay. The program is currently being finalized and once initiated, the Company intends to install several more in a consecutive manner to minimize costs. The cost of the entire program is expected to be approximately $10 million. .........The next set of ICD installations have been delayed, primarily due to the strategic and financial alternatives review process. This delay may impact the previously announced milestone of calendar Q1 2015, where the Company expects to see the project’s aggregate potential production rates ramping to approximately 7,000 bbl/d from the original twelve well pairs.
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