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 > Immediate impact on SP after a sale announcement

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Post by ShatnersRugon Jun 03, 2014 9:52am

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Immediate impact on SP after a sale announcement

Admittedly, I am green when it comes to this kind of scenario.

Let's say Mr. Lutes steps up to the podium tomorrow and announces "The company has been sold for 40 cents per share".

Would the ensuing halt be indefinite? With shareholders being paid out 40 cents per share?
Would STP continue trading until day X? At which point 40 cents per share would be doled out?

In the event that, instead of a cash settlement, shareholders would be given equity in another, stronger entity? What then?

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