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 maramos98on Nov 22, 2012 8:06pm

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Post# 20633971

RE: Mckay Production

We should get another update on production from the CAPP Investment Symposium presentation occurring on December 10, 2012. Hopefully by then production will be over 2500 bpd.

As stated by management, break even is ±4000 bpd. Per Raymond James ramp up chart which is based on Suncors Mackay project (close proximity to STP Mckay project), STP should hit 4000 bpd in early March 2013

The fully diluted insider ownership according to the AGM presentation is ±4%. I'm surprised that insiders aren't loading up at these low prices. Not a good sign when insiders haven't bought a single share in months.

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