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 Dec 10, 2013 2:29pm

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Post# 21991056

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

Taking a careful look at the burn rate versus cash in hand and bank lines availability, STP has about a year to break even in production. In other words, we have a full year before we need to get to 6,500 boe/d. Can it really be that hard?

(and that's not counting additional cash we can raise from selling some other undeveloped properties in our portfolio + other 'creative' financing).

Something is not right here. Investors are throwing in the towel due a one month setback, really? This thing is cheap as borscht.

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