New STP Corporate PresentationThis is the new STP Corporate presentation dated December 2012. As application for McKay two has been submitted we're now awaiting the new and revised reserves estimate. News regarding this could/should happen anytime..Me at least expect this to happen before the end of this December. Anyone who has any indications this is not the case..?
McKay phase 1 expected to be on line Q3 next year and then its estimated there is a 6-12 month ramp up period. Given these assumtions and then including McKay 1 and Senlac only company expects to be debt free during 2016. All based on an assumtion of an average price of $90 WTI oil (mind you today were ober $100 again and its ecpected to go higher) and a production of 15.000 bpd late 2012 early 2013..
Regarding future and possible upside potential then there is both McKay phase 3 (environmental background work underway) as well as South McKay (contingent resourses already assigned)
News regarding the ongoing pilot at Read Earth (105 mmbbl of P50 Contingent Resourses) now expected sometimes during Q1.
Then there is Wabiskaw (200 mmbbl of OBIP) where production could start some 2-3 years after SAGD start up.Interesting here also is the fact modeling indicated 50% recovery but that so far at least STP management only is budgeting for 25%.
As far as I can understand it Senlac oil sold is hedged at $113 oil.
https://www.shpacific.com/en/presentations_profile/stp-corporate-presentation-december-2011.pdf