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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 > Last post was loooong
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Comment by Junit290on May 27, 2014 11:47pm
287 Views
Post# 22603881

RE:RE:RE:RE:RE:RE:Last post was loooong

RE:RE:RE:RE:RE:RE:Last post was loooong
That was a really insightful post. I agree with you on every single point you make.

So when you quote a $1.11/Share value, where did you find that figure?  Is that based on 1P reserves and all assets? 

Where do you stand on the subject on the rumours of a buyout or JV?

Personally I would like to see a JV. When one considers where STP is at financially, a partner with cash would skyrocket share price because it would basically be an all but garantee that they will be able to unlock the oil. Another reason for a partnership is the other land assets they hold such as the Red Earth CSS Pilot Project. It would be an easy startup for a JV partner that has money to spend. 

Whether or not they actually are even seriously considering any of these options or not is up for debate. They may have just initiated the Review because they had no idea what to do next and it would be a good enough reason to stop releasing news. haha. 

IMHO I think STP would be cutting it pretty close to the edge of going under if they decide to go it alone in case they have any other major hiccups. 

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