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 > Throw my estimate out the window

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Comment by Pandoraon Jan 23, 2015 2:27am

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Post# 23354714

RE:RE:Throw my estimate out the window

If you're a common shareholder you can pretty much kiss it alll goodbye. If it's in a cash/margin account you can claim the loss on your tax return next year. If you had the shares in a registered account such as an RRSP, RIF or TFSA you do not get to claim any loss -- it's just all gone.

One thing to remember -- if Lutes shows up again in another company it is probably not a good company to invest in. Although he seemed to do a very good job in the construction stage of building the plant on time and on budget once it got into operations it has been a total disaster from which he could not recover --- and there went all your invested money. Down as deep as a bore hole and never to be seen again.

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Understanding tax loss season and the “Santa Claus rally”