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 > Rumour has it

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Comment by ShatnersRugon Mar 25, 2014 9:29am

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RE:RE:RE:RE:RE:RE:Rumour has it

Agreed. To commit to $10mil in capex implies that the cash crunch is, or is in the process of being resolved. Amendment to credit facility in Jan clearly stated that 5.1mil was the limit in capex up to Apr 30. We're going to witness the phoenix rising from the ashes in the coming weeks and I intend to be on board.

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