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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 > Pi Financial
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Comment by oilcansamon May 09, 2014 3:55pm
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Post# 22545672

RE:RE:RE:RE:RE:RE:RE:RE:Pi Financial

RE:RE:RE:RE:RE:RE:RE:RE:Pi Financial
well one way to look at it is the "on going " progect in the oil sands.  KNOC (harvest) is putting out 0.5 Billion just to start.  Nothing on top or well bores drilled.  Thats the price of a plant.  So i guess you can say that STP is worth at least that.  so that puts us just over a buck.  now we start looking at production and 444 MMb resources.  Dont ask me to go into how these numbers are derived.  its a lengthy process.  but it is fact .  Now we just need someone to get it out.  Thats the beauty with SAGD wells.  they produce for years and years.  light wells decline so fast its not even funny.  sure they only cost in the neighborhood of a mil to drill but stability is not on their side. 
STP has proved a production of 4000+ boe  and they admit they screwed up when they got this production.  Just imagine someone stepping in with much more expertise in the SAGD world.  In my opinion , thats what puts this comapny in the $2.50 range.  thats what i would gamble bet on.  hopefully we will soon see.
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