Bullboard - Stock Discussion Forum 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... see more

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GREY:STPJF - Post Discussion

Southern Pacific Resource Corp > April 2-025 12.00 PM MT

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Post by birdie22 on Apr 02, 2015 2:38pm

April 2-025 12.00 PM MT

Just a few more mintues to make a bid for the STP assets then its closed and the die may be cast.
Should hear someting by April 24 when the existing extended Stay expires.
GLTA

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Comment by bambus on Apr 05, 2015 1:21pm

Was asset sale the only option here ?

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Comment by birdie22 on Apr 05, 2015 1:40pm

That is what the Company proposed, moniter agreed and Court approved, but hopefull that it was bid as a going concern going forward.

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Comment by monzie on Apr 06, 2015 9:07pm

To answer your question bambus this is from the company's last news release - "Strategic and financial alternatives to be considered may include, but are not limited to, the sale of the Company, merger or other business combination, new investment or other financing alternative as a part of a recapitalization, sale of all or a portion of the Company's assets, or any combination ...more

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Southern Pacific Resource Corp