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 > ICD history

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Comment by Eyeinvestoron Jul 25, 2014 10:57am

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Post# 22781923

RE:RE:RE:RE:RE:RE:RE:RE:RE:ICD history

Yes good spot. If the well previously did 200 bb/d, there is obviously potential for the well to exceed 200bb/d with ICDs. Spending $1 million for 200-300 bbd is obviously an attractive return on investment so it would be okay to do this. I wish they could spend $10 million for 3,000 bb/d!

But the biggest ROCE is new wells with conservative layout and engineering + pre-installed ICDs producing name plate capacity. The steam is sitting there! The oil is sitting there! Someone should just buy STP and get on with it.

The fact that they have not ended the strategic review suggests that somebody is dickering over price.

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