Southern Pacific Resource Corp STPJF

AGM

[Rotor1]

Although I am a first time poster, I have been following you all for awhile. I attended the AGM, and I gotta say, felt out of place. Lots of suits there. However, I did get to shake hands with the man himself, Mr.Lutes, as I was also the first one there. As someone posted a couple months ago, they did reiterate that 5500-6000bbls/day was the magic number. Was a fairly quiet crowd, although the room was packed. Only 3 questions were asked, and it was over in 45 minutes.

[Pandora]

And you didn't by chance take note of what the questions and/or answers were?

[Rotor1]

First question out of the gate was regarding management compensation. Lutes answer for that was that it seemed high last year because all the 2012 goals were met. He said bonus structure would be re-evaluated in January, and doled out accordingly to 2013 goals. We'll see where that goes.....I think the second question was regarding financing, and i'm sorry I don't remember what

[BG20]

Rotor1:  - Did they give any idea about when they expect to reach the "magic number"?

[Rotor1]

They were pretty careful not to give a firm answer. They are going to start drilling Senlac in late March/early April. Hopefully that will firm up the numbers....That's about all the info they would give. Don't want to be accountable you know.

[nikehercules]

Thanks for the update on the AGM. I didn't bother going since AGM's are mostly about passing resolutions, electing directors etc. etc. and other housekeeping activities. I hear CLL's AGM had a few more sparks. FWIW - I picked up another 100k shares.  Buying at 0.32 brought me back to July, when I first began picking away at STP and there appeared to be no hope for McKay. It

[Rotor1]

It was my first ever AGM, so I know now to take a notepad to next years to write the questions and answers.

[zanadu123]

I wasn't there at the AGM, but, my friend says that STP employees were instructed not to ask questions.  Seems that is the reason why there were only 3 questions...right FooF?