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 > may be other reason for third ICD delay

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Comment by monzieon May 07, 2014 10:46pm

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RE:RE:may be other reason for third ICD delay

Not to mention they signed the new credit facility on March 31st, surely these Q3 numbers were analyzed by the lenders and they found them acceptable to lend 150 million dollars. But you're right about tomorrow, Lutes has to answer the tough questions confidently if he wants to ensure that the bleeding is kept to a minimum. I hope someone asks if they still have May 31st as a target date for the review process, as well as what the April exit rate was and whether 2P1 is back to 600 bbl/d

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