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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 > Want the stock down or?
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Comment by nikeherculeson May 28, 2014 4:23pm
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Post# 22607170

RE:RE:RE:RE:RE:RE:RE:RE:Want the stock down or?

RE:RE:RE:RE:RE:RE:RE:RE:Want the stock down or?Yes, I have done ok...this year. However 2013 was a goddamned bloodbath for myself and alot of "buy and hold" types who were "patient" and believed things would eventually work out.

Boy were we wrong in 2013!

So for this round with STP I threw out "buy and hold" and treated this stock like a cheap phillippine hooker as someone mentioned on Dec. 11, 2013 and clawed back up near breakeven. Being patient with STP has often meant watching your money/gains disappear into the teeth of the next news release.

The unfortunate reality is that the longer we go without a conclusion to the strategic review, the more likely there are complications with the ICD. Patience, in this circumstance, might not be a virtue for STP common stock.

I am less bearish on STP.DB though. Who can argue with that yield given corporate breakeven one way or another? There we get paid to be patient.



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