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 Jan 08, 2013 12:25pm

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Post# 20810298

RE: RE: RE: Premium to WCS??!!

I most certainly did, and that is the basis for my continuing accumulation over the last few months. Lutes has mentioned a few times about STP's product being sold at "Brent based prices" which will give STP massive netbacks vs piping at barely break even levels (pg 13 in Jan presentation). STP's product will be competing against oil from dozens of other countries based on Brent/world pricing. Canada has also recently overtaken all Persian gulf countries combined in US oil imports, accounting for approx 28% of US oil imports. It's good to have a thirsty neighbour :). I do agree with you that the sp should be much higher than it is now, but apparently we will have to wait a little longer than expected.

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