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 > did anyone notice

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Comment by Awardedon May 21, 2014 4:42pm

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RE:did anyone notice

Adamsight. You got my curiosity re why a new May presentation was put up when the previous one was labelled as “final”.

I compared the two. The only thing I could ascertain as different was the following footnote added to the bar chart of Senlac Netbacks (slide 9).

*FQ3 2014 royalty credit as a result of a 13-month adjustment due to higher capital spending and lower revenue in 2013 which reduces the Crown royalty rate."

This explains why the bar for FQ3 2014 shows no payment of royalties and why the netback for FQ3 2014 was surprisingly high ($64.91).

Nothing unusual here. I presume someone questioned why there were no royalty payments and the company decided they had better add the explanation to the presentation.

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