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 > STP.DB - Caution - Fees Ahead!

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Comment by nikeherculeson Mar 21, 2014 5:40pm

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Post# 22354204

RE:RE:RE:STP.DB - Caution - Fees Ahead!

for my $100,000 face value shares, it's $6,000/year.

It is March, so the $35,183.32 - $33,740.00 = $1,443.32 is about right. Last payment was Dec, 31st an Eyeinvestor noticed that the bank allowed that payment out of the LOC.

It's interesting that STP did not elect to pay the debs with common shares for the last payment. They had announced the strategic initiative at that point. That's $4.5 million in cash every two quarters.

I could make a career buying junk securities.

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