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Northstar Signs MOU to Mine High Grade Zone 2 at Cam Copper Mine (click to learn more)
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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

Bullboard (GREY:STPJF)

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Comment by birdie22on Jun 11, 2015 9:10am

RE:what now?

Here is the Receivers Web site .It has everything that has been issued by Lawyers , the Court etc since CCAA in January. The final word on the Company will be posted here. https://www.pwc.com/ca/en ...more  
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Post by bambuson Jun 11, 2015 9:00am

what now?

so what now guys ? how long will we wait to see what is sold and for how much...would we even know? would it be shared with shareholders? ...was the application for receivership approved by the court  ...more  
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Discussion
Comment by nikeherculeson Jun 02, 2015 2:27pm

RE:RE:RE:RE:SOUTHERN PACIFIC CREDITORS FILE RECEIVERSHIP APPLICATION CAL

It must have been well short of the $130 million USD owed to the First Lien. If it was close I'd expect the Credit Suisse to cut and run. A running plant is more valuable than one that's been ...more  
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Post by birdie22on Jun 01, 2015 8:49pm

Receivership Order

https://www.pwc.com/en_CA/CA/car/stp/assets/stp-034_060115.pdf
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Comment by birdie22on Jun 01, 2015 5:19pm

RE:RE:RE:SOUTHERN PACIFIC CREDITORS FILE RECEIVERSHIP APPLICATION CAL

Monitors 5 th Report, Look at page 12 item 9, The bids they recieved where not sufficent to settle the debt owed to Fisrt Lien. https://www.pwc.com/en_CA/CA/car/stp/assets/stp-030_060115.pdf
145
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Comment by monzieon May 29, 2015 7:52pm

RE:RE:SOUTHERN PACIFIC CREDITORS FILE RECEIVERSHIP APPLICATION CAL

Geez I wonder how low the offers were if receivership turned out to be the best course of action.
176
Discussion
Comment by bambuson May 29, 2015 6:56pm

RE:SOUTHERN PACIFIC CREDITORS FILE RECEIVERSHIP APPLICATION CAL

Wow...that's it then...our chances went from very slim to none... Time to put those loses behind and move on... Well, this is the worse scenerio for unsecured shareholders...everything is gonna go ...more  
193
Discussion
Post by birdie22on May 28, 2015 4:59pm

SOUTHERN PACIFIC CREDITORS FILE RECEIVERSHIP APPLICATION CAL

SOUTHERN PACIFIC CREDITORS FILE RECEIVERSHIP APPLICATION CALGARY, Alberta – May 28, 2015 – Southern Pacific Resource Corp. (the “Company” or “Southern Pacific”) announced today that the Company’s ...more  
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Discussion
Comment by KevinGSon May 13, 2015 11:29am

RE:RE:RE:SOUTHERN PACIFIC PLANS TO SUSPEND OPERATIONS AT STP-McKAY

Given the company was close to break even in the last monitor's report, I think they are trying to get past break even by doing this. I can understand why this is not great news if you are ...more  
402
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Comment by nikeherculeson May 09, 2015 6:59pm

RE:RE:SOUTHERN PACIFIC PLANS TO SUSPEND OPERATIONS AT STP-McKAY

I don't read the news release as anything but negative. CCAA stay ends June 1st. STP-McKay is being put into hibernation by the end of July. Interested buyers in McKay would need to act before ...more  
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Comment by dbinvestoron May 08, 2015 4:15pm

RE:SOUTHERN PACIFIC PLANS TO SUSPEND OPERATIONS AT STP-McKAY

Interesting... I think a deal is cooking ... This appears to me to be a  non-monitor driven adjustment  like altex A good way to cut costs is to reduce G&A/managerment... don't need ...more  
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Post by birdie22on May 08, 2015 1:54pm

SOUTHERN PACIFIC PLANS TO SUSPEND OPERATIONS AT STP-McKAY

Posted on SEDAR SOUTHERN PACIFIC PLANS TO SUSPEND OPERATIONS AT STP-McKAY CALGARY, Alberta – May 8, 2015 – Southern Pacific Resource Corp. (the “Company” or “Southern Pacific”) is making plans to ...more  
402
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Comment by dbinvestoron May 05, 2015 9:11pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

Looks like the concerns of the 2nd lien holders about the process happening to fast as well as some things that can be done to improve the balance sheet are both correct! 1. the altex deal is gone ...more  
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Comment by bambuson May 01, 2015 2:00pm

RE:Stay Extended to June 1 st.

Wonder if that's a good thing or bad... To me it looks like they weren't getting the money they wanted therefore the extension...maybe they are buying time until the oil goes up again so there ...more  
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Post by birdie22on May 01, 2015 10:16am

Stay Extended to June 1 st.

https://www.pwc.com/en_CA/CA/car/stp/assets/stp-029_050115.pdf
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