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 jigsaw puzzle

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Comment by nikeherculeson Apr 10, 2014 11:20am

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Post# 22435096

RE:The jigsaw puzzle

Thanks Eye,

Excellent post.

Yesterday PRY released their quarterly frankennumbers. I'm not pumping or dumping, but PRY is a good case study of a small cap producer with significant debt and questionable reserves. If anyone is wondering why STP's price is so volatile and tied to production - debt seems to amplify everything. STP is doing things right, PRY is obviously doing things wrong.

It's a good case study for the worst case scenario (ie STP in December 2013), and to always be vigilant about a stock (ie not to fall in love with it), and the dangers of dollar cost averaging down.

NH

PS - I am absolutely not recomending a buy/short on PRY - just look at that car crash, learn, and move on.

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