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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 > stratigic review
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Comment by nikeherculeson May 19, 2014 12:24pm
357 Views
Post# 22575460

RE:RE:stratigic review

RE:RE:stratigic review STP does have a bit of time. 60 million should carry STP through to breakeven and beyond.

However, STP is carrying alot of debt relative to its current production. For STP to basically shut down Pad L - a guaranteed 1500-2000 bbls/day - would mean a deal is on the table. I'd give STP until the Fall to announce the sale. May 31st would be nice, but i'm not expecting a quick resolution. RPL's sale took a little longer than expected and the announcement came right out of the blue when the mood was near an all time low.

At 23 cents, the market is only assigning a 5 cent premium for the somewhat successful ICD announcement and the refinancing. Recall in early march the analysts were wondering about a cash crunch in May and the SP was floating around 0.18. Between Christmas time and february the SP wondered around between 0.15 and 0.25.

The current SP is a fanastic price to enter the STP casino.







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