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 > Delay in Phase 1 Expansion and Phase 2 Approval...

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Post by Swingman24on Nov 06, 2013 10:26pm

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Post# 21883486

Delay in Phase 1 Expansion and Phase 2 Approval...

How much will the market punish the stock for this...

"In October, Southern Pacific received the second round of supplementary information requests (SIR's) from the Alberta Energy Regulator (AER) pertaining to the Phase 1 Expansion and Phase 2 application for STP-McKay. While there are no requests within the package that appear contentious, the delivery of the SIR's was significantly delayed from the original expected timing. Based on the questions contained within the SIR package and factoring a risked chance of entering into a regulatory hearing over stakeholder concerns, the Company has reforecast its expected approval date of this application to the second quarter of calendar 2015."

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