Southern Pacific Resource Corp STPJF

RE:RE:RE:RE:RE:RE:Price

[BayStreetRaider]

Guys, the end of the day trading is nothing more than a trading strategy, most likely transacted by a computer algorithm. The broker simply programs a computer to sell somebody's shares above a certain level, in this case it's above $0.37. No big deal, we're just going to be stuck there until demand of buyers > supply of sellers

Regarding the AGM, I didn't get a chance to go, but I noticed that the website has a new powerpoint presentation sort of updaing where they're at. The link to the presentation can be found here: https://www.shpacific.com/en/presentations_profile/2013/stp-nov2013agmcorporatepresentation.pdf

Nothing earth shattering in this presentation in my opinion, however, I did see 2 things that stood out:

1) Senlac production is expected to go back up to 2,900 bbl/d in Q1 2014. This is semi-good news as indicates the Oct dip is expected to be temporary. But 2,900 is a little less than we were getting in May, June and July. Anyway, I see Senlac more of a cash cow, the growth will come through McKay (hopefully)

2) The footnote on page 12 explains that despite similar characteristics, McKay's Pad 102 is performing better than Pad 101 due to "more even vertical seperation between injector and producer". I'm not really sure what this means, I guess they just drilled the second one better (or in their words - 'more even'). This raises additional questions like: can the vertical seperation in pad 101 be fixed so it can perform like pad 102? And, how much will this cost? IF it can't, I guess the positive view is that future pad's on McKay will hopefully be drilled the correct (more even?) way, assuming management learned their lesson. It would be worth it to follow up with management on this one or perhaps someone better informed than me can shed a light on this.

This is probably the longest post I've ever written on Stockhouse - as you can see I have a lot of money riding on this one haha.

GTLO

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