Southern Pacific Resource Corp STPJF

RE:RE:RE:RE:RE:RE:RE:RE:RE:July production out of McKay

[monzie]

Yes edmbonds it was almost nothing (so is the current stock price of STP), but it was still something and it still worked out to be more than what the stock was trading for at the time, not to mention the fact that those who held on for another year ended up getting about 6 times the value of that offer.  So yeah if you held on from when it was 8 dollar or even a dollar then yeah you pretty much got zero back, but if you got in around 12 cents you still made a decent profit if you held on (and it was under 12 cents for about a year leading up to the restructuring and it was at 2 -3 cents when it was announced).  And if you were lucky enough to buy in at 2-3 cents you made about 10 times that with the warrants and the restructured commons. People have to look at what the price is now and not what the price used to be.  But you are right the commons hopes lie in the production numbers rising, and the fact that all five well pairs that are being worked on right now were all either shut in or rate restricted, yet we still got to 2064 bbl/d - so I imagine when those 5 well pairs are back on line and running the numbers will significantly improve and then we'll certainly look more attractive to lenders.