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Southern Pacific Resource Corp STPJF

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

Comment by Junit290on Jul 14, 2014 1:17pm
395 Views
Post# 22743239

RE:RE:RE:Im surprised

RE:RE:RE:Im surprisedI'm pretty stoked for Thailand. Going to be nice not to have any responsibilities for a few months. 

I wouldnt worry about about the share price guys, I for one am hoping to see .14 or .15 because I plan to load right up. I had to do a road repair for one of the drill rig onsite here and when I was in the control room I started up a conversation with the consultant and Haliburton engineer about ICD's. Either of them has ever heard of them lol but what was interesting is that when I brought up STP, the consultant instantly brought up that one of the other guys, who is a pretty thorough investor, was heavu into them because they have apparently turned things around and figured out how to get the oil out and are keeping a lid on it. Said investor has a guy on the inside. Also brought up the fact they have a contract to drill this winter, didn't specify if it was coreholes or SAGD pairs. All in all I left feeling like maybe they actually know wtf they're talking about because I think I can read people really well. 

It's definitely a case of hearsay at it's finest, but the story lines up pretty good considering they are installing ICD's one after the other. I said it once and I'll reiterate it. I'm guessing they don't spend on anything else but ICD's until production ramps up and they have a really good idea of where they stand financially and I bet they can gain acress to more money if they can prove up the wellpairs. This talk about selling Senlac is in my opinion a waste of ink. They spend 18 mil there and they are instantly a corporate breakeven at today's production numbers and we all see that production is increasing. 

Grain of salt people. Just thought I should shaw because I'm not a selfish person by nature. 
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