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 > Convertible debenture is a SCREAMING buy

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Comment by Jzkbbion Dec 12, 2013 2:40pm

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Post# 22000067

RE:RE:RE:Convertible debenture is a SCREAMING buy

i like this play. Far more protection as you say. There is plenty of reason to believe that these will not be worthless even if STP fails. Do we think the McKay is a total loss? Or do we merely think that STP will run out of time/cash getting it going?

Still risky, but there is much more solid ground to stay standing.

8675309Jenny wrote:
this is a great buy. You will be getting 17% a year in interest, and have far more protection than the common shareholders, upside about the same,or better. the biggest issue is the issue size, which is 172.5m dollars, which is large. 2 1/2 years to maturity. much better bet than the common

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