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-McKay property consists of oil sands leases totaling approximately 37,760 acres. The Company’s operations also include Anzac, Hangingstone and Ells. The Company’s STP-McKay property is located approximately 45 kilometers northwest Ft. McMurray. The Anzac project covers approximately 117 kilometers of two-dimensional (2D) seismic. The Company owns 80% interest in Hangingstone project. The Ells project covers approximately 164 kilometers of two-dimensional (2D) seismic.

GREY:STPJF - Post by User

Southern Pacific Resource Corp

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Post by Saskatoonboyon May 06, 2009 10:56pm

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Post# 15973237

STP and what is going on.

Stp is currently in Toronto on a road show/ promotion. They have a wealthy backer within the company who is driving the stock price. They want to get the stock up so they can execute a financing deal and not have to dillute more than they need to. Their Q1 results will be coming out shortly and from word out there they are not good. Look for very little cash left, if they are able to get a financing deal done in the next 2 months they should be ok for awhile, but they still need further financing to further their Oilsands project. That being said unless weathy pants steps forward and helps out, but even his pockets must have a bottom. I would be very surprised if the stock keeps running and also if it maintains this level over the next two weeks. A pull back is very likely.

Toonboy

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