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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Comment by wittmannon Nov 20, 2013 1:41am

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Post# 21921704

RE:RE:RE:STP and SAGD

No No,thats not what I'm implying at all.This company isnt going bankrupt anytime soon.But investors like to see forward progress,not sideways or backward.Setbacks in sagd are common and expected its just this company has sufffered a multitude of problems in quick succession.All companies eventually must turn a profit of course and right now STP exists not from generated income as such,but from its 'borrowed money'.The debentures can be a good sign of another vote of confidence and the last I heard was they were doing badly as well.Take things as you like but the main point is that STP needs some good news in the new year or we may see our share price languish for a long time.

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