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.

GREY:STPJF - Post by User

Southern Pacific Resource Corp > 1 entity exiting position

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Comment by rehsifylfon May 02, 2014 3:16pm

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Post# 22519195

RE:1 entity exiting position

Yes. One large seller IMO - blocks of 50K. Based on how info from news releases has leaked in the past (a la the strategic review process), the seller probably doesn't want to suffer a reversal starting Monday if news is not as good as expected.

I don't believe that is the case, but no-one can blame a disciplined investor for taking some profit. Mind you - what the heck is a disciplined investor doing in STP.

I had a Bid for 300K at .30 today for about 4 hours that non-one wanted. If news was bad, someone that knows would have jumped at the ability to sell 300K shares in one block. I expect we'll see a move in next 45 minutes to close, because by Monday the news will be leaking.

Nice to see BMO 100% on the buy.

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