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 > STP Debs vs. The Rest

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Comment by oilcansamon Sep 03, 2014 11:22am

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Post# 22901135

RE:RE:RE:RE:RE:RE:RE:RE:STP Debs vs. The Rest

Monzie you nailed it on the head. Improve production and get financing. The banks want to see what you can do. If you look at the numbers a bit closer you can tell they are restricting a lot of wells. People are just looking at the production but another important number is the steam injected. If you compare 2p3 at 500+ bbl to another well way below that. The injection rate is also much lower. Meaning they are indeed restricting. Let's hope they were just being very cautious/ conservative for the review.

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