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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Comment by rehsifylfon Mar 18, 2010 10:50am

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Post# 16897805

Financing

Looks like the financing must be close. With 250M shares already out there, hopefully they don't issue too many shares at too low a price. They have been patient so far, and that is the right approach, but if they don't announce something soon, can't see them staying on track with the capital plan.

I have done a good job of avoiding Cannacrap in stocks for some time. Never seen a company they have been involved with that wasn't bent over big time.

If it gets below .90 I may take my second bite of 30K. Have to see how the manipulation goes. If it continues to get jerked around, I'll probably wait for the financing.

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