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 > Where are the lawyers

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Comment by nikeherculeson Nov 13, 2014 12:45pm

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Post# 23125046

RE:Where are the lawyers

Note the article says "creditor".

"Problems building and running complex operating plants have raised investor doubts and financial problems for companies like Sunshine Oilsands Ltd. and Southern Pacific Resource Corp.–the former now so cash-strapped that it faces 71 lawsuits from creditors seeking $94-million."

Shareholders are at the back of the line. There has to be some hope to recovering some value for a shareholder lawsuit. I bet the vast majority of those 71 lawsuits are from the second lien noteholders.

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