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 > The Sale of Senlac - then what?

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Comment by nikeherculeson Jul 17, 2014 1:11pm

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Post# 22756035

RE:RE:The Sale of Senlac - then what?

Thanks Eye for the excellent post.

I wouldn't read too much into the recent cash payment for the debs - even cash strapped companies like Exall Energy made their recent coupon payments with cash. Money flowed from the secured creditor (ATB) to an unsecured creditor (EE.DB).

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