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 > This is not intended to be a happy ending.

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Comment by monzieon Aug 29, 2014 11:38am

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Post# 22889913

RE:RE:RE:RE:RE:RE:This is not intended to be a happy ending.

Actually Rad those who bought the commons for well under ten cents were not even close to being "wiped out" and made out like bandits as well (provided they held on to their shares for about a year after the restructuring), as did those who bought the preferreds and debentures at those depressed levels, if I remember correctly all of the preferreds at one point were going for around 20 cents a share (so basically 20 bucks got you, post restructuring, 6 commons and 3 warrants) and the debentures were around 6 cents on the dollar for a long time (which got you 30+ cents on the dollar of new debs and a couple of shares and warrants).

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