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 > Getting it Out

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Comment by oilsandsbabyon Aug 08, 2013 3:43pm

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RE:RE:Getting it Out

I wouldn't use the term greedy at all. Perhaps they stretched the envelope from a technical viewpoint and took a well thought out risk. Sounds like they're on the right track based on the high pressure test and subsequent movement into production. Bigger payzone = larger payout for the same investment, just takes longer to get up to temperature and hence production. You can bet if this proves to be as successful as the early indications are, others will follow the leader.

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