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.

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Southern Pacific Resource Corp

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Comment by maramos98on Sep 28, 2010 10:17am

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Post# 17500535

RE: RE: RE: Question is ,is NPE really a good asse

if i was an STP shareholder i would not be complaning about this deal.
This is what you are getting for for 14.1 million shares (+/- 16 million)
1. 86,000 acres of land with 2 billion barrels of oil in place
2. minimum potential for 10,000 bpd production with ultimate potential for 30,000 bpd
3. approximately 2 million dollars of cash in the bank
4. revenue of approximately $100,000 from conventional oil sales per quarter
5. Working pilot project with capacity of 1000 bpd, can easily and quickly be expanded to 3,000 bpd.
Lets not forget that North Peace Paid 25 million for the leases in 2005.

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