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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 Kel2on Aug 04, 2010 11:18pm
480 Views
Post# 17322955

RE: RE: RE: RE: RE: RE: Takeover?

RE: RE: RE: RE: RE: RE: Takeover?You need to check your charts a little more closely.  STP touched its highs of $4.40 in June/July of  '07 after raising $32 million on a financing at $2.90 per share.  They had planned to raise $10 million but the deal was in such demand that they raised substantially more.

Analysts have targets ranging from $2.05 to $3.75 so I am not sure why you are so concerned about $1.50.  If a takeout comes I would certainly hope the stock has already surpassed $2 so that we see upwards of $3 on a buyout bid.
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