Southern Pacific Resource Corp STPJF

may be other reason for third ICD delay

[Duxing]

In the report, it says "The next set of ICD installations have been delayed, primarily due to the strategic and financial alternatives review process." 

I think the other reason for the delay is that STP needs to gain more experience and knowledge prior to installing ICD into more well pairs. The production restriction of 2P1 is an example. Higher production rate from a SAGD well pair may not alwaysbe good thing.

[freedom45]

How Lutes answers the hard questions on conference call in morning will determine their retail trading future. What r current and April flow rates ? I believe we have a 3rd party joining the company and they don't want competiiton for their piece of the pie. Smart management coupled with some odd trading last 2 days = somethings up. Very quiet previous 5 weeks.

[monzie]

Not to mention they signed the new credit facility on March 31st, surely these Q3 numbers were analyzed by the lenders and they found them acceptable to lend 150 million dollars. But you're right about tomorrow, Lutes has to answer the tough questions confidently if he wants to ensure that the bleeding is kept to a minimum. I hope someone asks if they still have May 31st as a target date for

[ShatnersRug]

I'm going to try to get through for the CC. If anyone intends to attempt a call, get them to divulge april prod numbersand exactly why 2P1 was scaled back virtually right after the March 17th release. In addition, I would have considered the scaling back of production material in nature. Why this was not included as part of the March 28th release I do not know.  Also,ask who the suitors

[Eyeinvestor]

Happy to answer those questions for you now. ........................................................... April prod numbers? We are not providing monthly updates during the strategic review process/ .......................................................... Scaling back in March? We observed a change in operating conditions and we prudently reduced steam injection, we have been steadily increasing

[Eyeinvestor]

BINGO......Eye nailed that one!