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 > High Risk potential Home Run

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Comment by CommunityMindon Aug 25, 2014 3:59pm

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Post# 22876074

RE:RE:RE:High Risk potential Home Run

In my opinion (and others) this company is basically bankrupt and a total lose to the share holders. The only ones who get their money back are the secured lenders. There is no hope of a buyout. That was the purpose of the review and no one was interested. Whatever assets they have belong to the secured lenders and they'll get those as soon as the STP bank runs dry in a few months.
I think what you're hoping for is a miracle. Cracks to mysteriously form underground so the steam can penetrate and the oil can flow and be collected.

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