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 > Red Earth

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Comment by nikeherculeson May 04, 2014 12:56pm

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Post# 22522550

RE:Red Earth

They did, take a look through th old news releases.

From what i understand there was no pilot operation run at McKay. They took an enormous gamble and so far the early shareholders have taken it on the chin.

The core samples looked good, so they decided to spend half a billion and build McKay. The rest is history. There was no way they could predict holding the core samples in their hand that conformance would be such an issue.

This is still a very high risk stock. Can the ICD's maintain a stable and high production rate? We'll find out soon!

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