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Southern Pacific Resource Corp STPJF

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

Comment by llennnon Sep 27, 2014 9:48pm
386 Views
Post# 22977120

RE:RE:RE:RE:RE:RE:worst case seems likely

RE:RE:RE:RE:RE:RE:worst case seems likelyMy understanding is they would like to down space between these leaving 50 meters between if they are now 100 meters. Another area is the minimum industry average is 400 B/D but from my calculation at Mckay STP is only producing 187 B/D per well pair even at 400 B/D they would be producing 4800 B/D but STP is no where near that at Mckay but they are paying 40 million a year just on interest and if they continue to use money to try and squeeze oil out I can see where the investment house who were in at the beginning and got out because they did not believe the story its kind of makes sense what they talking about and so the investment is really a hope dream because you cannot just continue to drill holes hoping to increase production as this becomes more like casino gambling as appose to gambling on the weather re farming even card gambling gives a little chance but casino gambling there is zero chance of a return only throwing good money into a hole, now someone created this manure pile now they have to clean it up, the more I read on this the bigger the pile of Manure goo, How did it get so bad?
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