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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 > Scurvy be damned!!!
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Comment by monzieon May 09, 2014 9:39am
247 Views
Post# 22542975

RE:RE:RE:Scurvy be damned!!!

RE:RE:RE:Scurvy be damned!!!"I thought the conference call/NR specifically suggested the drilling and ICD installation were put off until the strategic review was finished?!"

Well you can look at this way too, the presentation was written/created on May 1st where they don't mention anything about the ICD and Senlac initiatives being halted in fact they even ordered the ICD's to install, and then on May 7th they say that things are suddenly halted until the review process is over - so clearly something happened in the first week of May for them to hold off on their plans. It's not a money issue, it's not an inventory issue, and it's not a failure issue (the ICD's work), so do the math on what it could be.
I thought the conference call/NR specifically suggested the drilling and ICD installation were put off until the strategic review was finished?!
Read more at https://www.stockhouse.com/companies/bullboard/t.stp/southern-pacific-resource-corp#LyCp8tmPwvbxhKPP.99
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