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 > Immediate impact on SP after a sale announcement

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Comment by CatCatCaton Jun 03, 2014 10:57am

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Post# 22624611

RE:RE:RE:Immediate impact on SP after a sale announcement

Ive been thinking about this, my guess is there is no deal in the works (companies dont all of sudden announce an end date of strategic reviews) I think once they got the new lien they decided to go it alone. JMO

I also think retaining RBC at ~10k/mth was a waste of money, Credit Suisse came through on the new first lien, it doenst appear RBC had anything to do with that, why didnt they partake?

We'll have to wait and see...I hope there is a deal, if there isnt they better come through with some great new production results in the same NR or we may see .05...again JMO

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