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 eebleron Feb 09, 2012 7:39pm

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Post# 19512845

RE: News Release

Lower production in the last quarter compared to the year before was offset by an increase in netbacks of almost 40%. The news of an average exit rate for the last 7 days of January at 4700 boe/d and the increased netbacks should make this current quarter's numbers good if they can keep it near peak production. The market may punish the production issues they suffered in the previous quarter but Phase I is what this is all about so if it gives a chance to buy more shares on a brief pullback, it works for me.

eebler

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