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 > STP and SAGD

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Post by wittmannon Nov 19, 2013 9:27pm

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Post# 21921396

STP and SAGD

I couldnt help noticing some barbs traded here.I think all of us investors in this company are unhappy with the way things are going.But we took a risk with sagd and anyone who understands sagd knows this.To state that sagd is a more costly method of oil extraction is so painfully obvious its not even worth discussing really.Especially comparing it to oil sands open pit.The numbers that are or were touted for stp's production were very attractive and the company's relationship with investors was stellar(at first).The fact that things are not going as planned should be known by us all really,its just disappointing when it actually happens.This company went from excellent to poor in less than a year.If it can turn things around,great,but time isnt in their favor.

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