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 > stratigic review

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Comment by Junit290on May 19, 2014 11:14am

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Post# 22575309

RE:stratigic review

I recall reading that somewhere as well but I couldn't find the quote. Really think that a JV is the best way for STP to move forward. My reasoning is even if they proof up the wells slowly but surely and they receive approval to move forward with the expansion plans they will not even remotely have enough money considering the debt. A JV makes all that very easy for both parties and shareholders will be handsomely rewarded.
At the present time though being a shareholder requires nerves of steel and a strong confidence in STP Management, whom have already proved their worth as STP still has lots of breathing room all things considered!
My two cents!

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