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 > wishfull thinking

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Comment by monzieon May 28, 2014 5:29pm

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Post# 22607398

RE:wishfull thinking

Well that's exactly what people were saying about RPL just a couple of months ago. A buyout may not happen, nor a JV, but something does seem to be in the works otherwise can you explain why they halted the Senlac drilling and ICD installations when they have the cash on hand to do both? It could easily just be a large line of credit negotiated for an extra cushion and then they'll go ahead and continue or even selling Red Earth and their other oil sand leases that they aren't using. You are right tho, the company put themselves in this situation and should be the ones to get themselves out of it, and IMHO I think they are working on a plan to do such a thing.

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