GREY:STPJF - Post by User
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Oilfascinatedon Aug 29, 2014 9:25pm
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Future Prediction for STP
Future Prediction for STPDoes anyone have a future prediction?
I think they will run out of money in 6 months or less,
They will try to refinance, but unlikely, given the boondoggle of production issues.
The banks will force to sell, and likely get somewhere around 0.15-0.20, but likely less (that's around $500 million for all the properties and processing plants).
There is no money there as it is, so reverse split stuff doesn't seem likely.
My guess is, it will be an adjacent property that will acquire because of the ease of putting a pipe down to use the processing facility which right now has a permit to do something like 12-24k BOD of processing, and STP has an application in to increase to 36k BOD.
This thing needs another 100-200 million of cash burn to get ahead, but unlikely to get given what we know. The banks have always just given enough to develop a little, but never the amount that they have truly needed to become viable.
Just some thoughts from someone who holds 1 mill shares. Anybody else have ideas of future?