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 > Price

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Comment by BayStreetRaideron Nov 22, 2013 1:49pm

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Post# 21932506

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

Thanks for the post Deduction, that's very helpful.

I'm just scratching my head a bit on why they would try a new drilling technique right out of the gate before they're even cash flow positive? I mean, le the Cenovus' and MEG's of the world focus on experimental drilling, they're the ones who have money to burn and can afford to take that kind of risk... Anyway, I hope management has learned from this and hopefully we'll see some better flow rates from pad 101 soon.

Cheers.

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