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 > The Nov 14 press release says a lot

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Post by geodude13on Dec 14, 2013 7:09am

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The Nov 14 press release says a lot

150 bbl/d per well pair at Mckay is concerning. These wells should be making north of 800 bbl/day after circulation. Trading on pennies is fun for those that time the rise but the fundamentals are that McKay may be a really bad reservoir. If STP can't find $85MM to fund the next round of pads then the cash is projected run out at the end of the year. Trading pennies can still be done but the slope on the stock price will still be negative. Regards

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