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 > Im surprised

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Comment by nikeherculeson Jul 14, 2014 12:35pm

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RE:RE:Im surprised

Just tried calling the CFO and got no answer.

Can somebody else from the board call up Greg and re-confirm the end of summer timeframe for the strategic review? I have a feeling Adamsight is correct and that the end of summer timeframe might be material.

Chances are you'll need to leave a message.

I just want to make sure I didn't mishear anything or if I'm going nuts.

Also, in regards to rescritive covenants on the secured loans - there are clues on page 15 of the STP.DB prospectus for the original 2nd lien loan. I imagine these terms were not significantly changed when STP replaced this loan according to the January 21st news release. Note that "potentially restrictive covenants" were removed according to the news release.

Thanks guys.

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