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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 > A quick call to Greg Foofat
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Comment by Eyeinvestoron Jul 11, 2014 9:43am
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Post# 22736183

RE:RE:RE:RE:A quick call to Greg Foofat

RE:RE:RE:RE:A quick call to Greg Foofat
Ive looked through the May data more closely and the data since inception. The ICDs are clearly having a significant positive impact. One can only wonder what the situation would be if the original wells had been installed with ICDs from the start and had a more conservative layout. The good news is that the oil is there.

Regarding Senlac......Im wondering if they should just sell Senlac and reinvest the cash in a new wellpad at McKay? The payback on a new well pad with pre installed ICDs etc would be much higher than investing in a new pad at Senlac. BUT they probably cant sell Senlac without permission from the debt holders. To the debt guys, Senlac is a very tangible asset which protects their loan.

There is REAL VALUE in STP, the question is how to unlock it!
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