Southern Pacific Resource Corp STPJF

Need the sale

[whatabuck]

Declining Senlac production, stagnant STP production, running out of money and options. If an outright sale isn't announced by the end of the month this thing will remain a penny stock, a Connacher if you like. Management has told us that it is not prepared to put out any cash to fix the problems. Unless a white knight steps up and takes control (50% plus), come June 1 Southern Pacific will be run by banks and accountants. IMO adamsight's evaluation is high. Both Senlac and Mackay have not been brought up to expectations and potential suitors will have to spend a whack of cash to get it up to snuff. My numbers would expect a discount of 70% and a bottom line share take over price of 25 cents.

First steam was July/2012, we are now 23 months into it with only 33% of target achieved. Management told us up to 18 months for conformance to 6000bb/day. Hope for a sale, I think its the only way out.

[Junit290]

Management has actually said they will step in a spend the money to get the production increased. They are however delaying the spending until the end of the month pending an end to the Strategic Review. They have additional ICD's on site and they have an application filed to drill infill wells. They are more than capable of bringing production up with or without a JV or outright sale, however

[himmler]

Penny stock? I  can live with that .Take 'er up to 99 cents and I'll retire.By  the way most big institutions regard any stock below $5 a penny stock.they are too volitile below that........so besides more negativity on your part I dont see any hope for you so you better sell   :) .For reasons too long to list though an outright  sale is the least likely event.But thats