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 PeakOilBoyon Jan 18, 2013 5:29pm

387 Views

Post# 20859208

Bond Deal Done

Jan. 18 (Bloomberg) -- Southern Pacific Resource Corp.
priced C$260 million of speculative-grade securities to yield
727.7 basis points more than federal benchmarks, or 8.75
percent, according to a person with direct knowledge of the sale
who asked not to be identified. The bonds are due in 2018 and
callable in 2015. Proceeds will be used to refinance existing
bank credits. The debt was rated B+ by Standard & Poor’s, four
levels below investment-grade.

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