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.

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Southern Pacific Resource Corp

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Comment by stockmysteron Jan 19, 2013 11:03am

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Post# 20861180

RE: RE: Bond Deal Done

what the heck is going on here? Management has some explaining to do. I wasn't thrilled about the private placement but they did it and I thought they would be well funded. Now this loan interest rate is at a higher rate than previously arranged? Ya it sure was nice that insiders sold this before the news came out. I should have known something like this was about to happen. The price climbed to $1.38 and then back down.

This company was suppose to be self funded. I would like to know the bpd needed to break even. Someone posted 2500 for mackay but I think it is much higher. At least come out with a news release not have investors search for the terms of this loan which are just dreadful.

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