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 > July production out of McKay

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Comment by rad10on Sep 05, 2014 11:47am

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Post# 22909896

RE:RE:RE:RE:July production out of McKay

Monzie / Shat - you are both good contributors. Losing money sucks - but several plays have done well recently so it is all a balance. The negative posts are useful too - providing they are fact based. I certainly had to dust off my abacus after Shat's update a week ago.

A recapitalisation or a buyout seems inevitable. Lets wait and see what the production numbers look like. The strategic review was carried out before the big correction - surely STP is more attractive now to a MOC. The ability to cancel unsecured debt at 7 cents on the dollar and secured at 55 cents on the dollar in the open market - must be tempting.

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