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

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Post by whatabuckon May 14, 2014 5:26pm

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Post# 22562477

Agree with nikehercules

Orginally bought in Oct 2011, bought more many times, and have shown patience, but it is running thin. SAGD takes big, deep pockets to get it up and running. On top of that you need great enginnering and even then it's touch and go. STP Mackay may have the reserves but it is looking all the more likely that the money would run out before they can get the bugs out.

Personally I would love to see it anywhere near a buck but that would bring the buyout price wayout of line to justify.

Don't need an analyst's opinion on this one anymore. Just ask your self one question. Would you buy it here given what we already know? For me the answer is NO.

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