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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Post by prairie08sheikon Aug 28, 2012 2:18pm

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Post# 20270252

Take-over coming

Canaccord analyst Benny Wong believes co is prime target for a take-over. PetroChina will be looking for operating expertise after the Dover put/call option gets exercised later this year. With STP's core assets being contiguous to the Dover and MacKay JV assets, it would serve as a natuaral tuck-in besides personnel expansion for PetroChina. STP has experience with producing SAGD assets (Senlac and soon to be McKay which is desirable for entities looking to enter the oil sands space.

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