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 > STP and SAGD

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Comment by stephenhuangon Nov 20, 2013 1:17am

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Post# 21921696

RE:RE:STP and SAGD

monzie wrote: Just out curiousity sake why isn't time in their favour? They have 47 million dollars available to them right now, as well as another 140 million if they choose to take a second lien. The convertible debentures mature in three years and the senior notes are more than 4 years away from maturity. And by that time both Phases at McKay should be up and running as planned. So what is this time thing that several people have referred to on this site? With 187 million dollars in total available to them are you actually actually implying that STP is a going concern and might be shuttered soon? Am I missing something?

Good point, this is a wonderful buying time. By the way, I am buying.

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Options trading in a volatile macro environment