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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 > Oil Sands Dream Evaporates With 40% Bondholder Loss Seen
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Comment by wittmannon Aug 26, 2014 1:11am
461 Views
Post# 22877126

RE:RE:RE:Oil Sands Dream Evaporates With 40% Bondholder Loss Seen

RE:RE:RE:Oil Sands Dream Evaporates With 40% Bondholder Loss SeenIf one reads the last news analyst Chris Cox stated in his note to investors liquidity will be an issue with STP in 5-6 MONTHS 'unless solutions are found to boost the production' at STP-MKAY

Lutes says STP has 34 million and'adequate time' to do exactly that 2500- 3000bpd.
The market says that noone believes Lutes at this point.Credibility issues?? Maybe ..but the market has had its fill after years of waiting.
Market value?? of course, but who cares?? plenty of companies out there that are better value and have better assets as well..And better track records to boot.
 
Can this company turnaround?Anything is possible ,but it will take a complete reversal of the bad luck that has plagued STP for a long time now...and luck is not anything the market is interested in now.It will be a very risky bet...for anyone new and I sure wouldnt recommend this stock to anyone.
My advice ,which is as useless as most posts here,lol,is as follows.....if you rode STP down to what it is now...hang on to it....you just never know.The smallest 'good' news will make this stock jump ...by speculators mostly, very quickly. You will have the chance to get out then.....it worked very well for me with Connacher....and lightning will strike twice in the same place. GLTA

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