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 koxamitnyon Jul 25, 2014 4:49pm

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Post# 22783452

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

I too believe that the reason the the strategic review has not ended is negotiations are on-going with someone. The installation of ICD's is an exercise in proving viability to whomever is interested. Full blown expenditures on ICD's, a new pad to replace #1 or Senlac would probably not provide any return on investment to shareholders if the company is going to be sold. If a sale is not in the works, I would think that a clearer direction would be known and being implemented. The question is - who has the experience and is in the market to purchase oilsands - SAGD property?

Anyway it unfolds, I'm holding the bag and waiting to see what unfolds just like everyone else...

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