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 > I wasnt Privy

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Comment by ShatnersRugon Mar 30, 2014 9:57am

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Post# 22387137

RE:I wasnt Privy

Senlac will not be limited to 3500 bbl/s by management, the Saskatchewan government, nor the tooth fairy. Senlac will not be sold. STP needs the cash and Senlac has been a reliable source of income for years. If STP were on the selling block, Phase L wells would not be drilled in the coming months. Red Earth will NOT be developed at least until after Phase II is in progress. Too much capex needed to get it going. And the 1000 bbl/d it can MAYBE produce from the one well that isn't corrupt is simply not worth the capital required to get the facility up and running. Red Earth ONE DAY will be pulling up 10,000 bbl/d, but not today. Awesome asset though. McKay production: I provided my reasoning as to how McKay can reach 9500 this year. How did you come to yours? Provide sources.

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