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 > Executives abruptly resign

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Comment by nikeherculeson Dec 10, 2013 4:30pm

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Post# 21991705

RE:RE:RE:RE:Executives abruptly resign

Shat is right, and I don't mean to pump.

When i mentioned something "catastrophic" appears to have happened given the SP, the CFO immediately said they would issue a press release.

catastrophic would be:

1) Fire
2) Oil leaking to the surface
3) Striking gold instead of oil

I have spoken at length with STP about #2, they assure me HPSS is not at a high enough pressure to fracture the caprock. Regular SAGD is nowhere near frac pressure. A Total style blowout is not in the cards given how deep these wells are.

We both agreed leaking oil would be instantly fatal for STP. The pad would be shut down and only a CNRL or SU has the cash to clean up a Primrose like mess.

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A PGM mining stock with value written all over it