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 > sale vs jv

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Comment by Oilfascinatedon May 10, 2014 11:28am

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Post# 22547354

RE:sale vs jv

I like your valuation. I think it's a bit high for not having 50% ownership position. Maybe a little high in general given no real return yet, but it would be nice to see.
I would like a JV because this will produce. I am long on this stock, and would like to realize the longterm benefits.
It's remarkable what they have been able to do to this point given the delays and unanticipated problems. I hope this management team is able to remain a part of the deal they end up creating.
We will see...

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