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 > Some thoughts

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Comment by nikeherculeson Dec 12, 2013 1:10am

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Post# 21997426

RE:Some thoughts

Hi stephen,

These are valid points, but take a look at my numbers and work them out for yourself. Please review the sedar filings for the quarterly financials.

What kind of price will they get for non-core in a rushed sale?

Will they run out of money before breakeven is reached? This needs to happen in the next six months if they use only their current bank balance.

....and most important of all, will the bank let STP tap the other 35 million left on credit? If they do, what additonal conditions will they impose?

...-and then ask yourself, if this hits 0.20, what will you do?

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