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 12:13pm

240 Views

Post# 21029190

RE: RE: RE: RE: RE: Not good

Wow, . they have two different issues bro. one is a senior secured straight cash DEBENTURE. the other is an unsecured convertible DEBENTURE. The point is that they trade on a yield. Think of it like an air plane's wings. when price goes down yield goes up (sarcasm added). because of the small coupon on the convert price has to go down more to get to a relative value yield. You coming on here and saying the sky is falling because the bonds are at 88 means you dont know how to use a business calculator. if the senior bond goes to 80s we will have problems.

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