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 PeakOilBoyon Feb 22, 2013 11:12am

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Post# 21028734

RE: RE: RE: Not good

So for some reason debentures means convertible bonds and not straight bonds? Maybe you don't know they have both? Whatever. secured bonds yield 9.1%. at 88 unsecured convertible bond 100%+ out of the money is yielding 10.3%. 10% is high, but not distressed and is dictated by the yield of the secured debt. For pricing of convertible bonds see prior posts.

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