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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 kavephishon Dec 03, 2012 3:32pm
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Post# 20676974

RE: RE: RE: RE: RE: valuation

RE: RE: RE: RE: RE: valuation

Sorry gang, I thought my previous post might be a little misleading so I will clarify what I meant.....I said that overall, STP is at record production - previously Senlac was at 4100bpd (March news release) and I believe the Senlac only peak average production at one point was 4500bpd.  Senlac's current average bpd per the Nov 8 release is 3051bbls.....add that to the 1700bpd from McKay(as stated by someone here who attended the AGM) gives STP's combined daily production at approx 4800bpd - this is what I meant by "record" production.  The next phase of Senlac will be online in February, hiking the Senlac only production back up to normal of 4000-4500bpd average.  You are correct though about the McKay breakeven point....it is around 4500bpd depending on netback.  Sorry for not being more clear in my earlier post.

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