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

Bullboard Posts

Post by 4ironon Feb 15, 2013 8:27pm

416 Views

Post# 20998802

Piece of Land

Why is it?

- the SP has fallen by 33% in the last 2 - 3 months, starting right after raising 80M

(just to get us by the hard times)

-buyout re-issue of Debentures

-not a great first QT of production, but definitely not worthy of a further devalue

STP was trading at $1.50, 2 years ago when it was an empty piece of land, a good business plan and a Hope and a Prayer.

Byron Lutes has done what he said to get us this far, let's hope a limp wristed market and a foolish insider won't further damage what is destined to be a successful SAGD producer.

4iron

Bullboard Posts

Eminent acquires promising Nevada gold project