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 > More drama

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Comment by monzieon Apr 25, 2015 2:16pm

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RE:RE:RE:RE:RE:More drama

No prob nike, the other weird thing about the 2nd lien guys is that they barely even accessed the data room, they're the ones who asked for an extension on the SISP to give them more time to review.

The natural gas fixed price contracts expiring will also help the push to breakeven - now if only these idiots had hedged oil at 90 bucks for 2015 or longer like some of the other oil companies did then we might actually have had leverage in this restructuring. Oh well. Not that it really matters anymore but does anyone have access to the March production numbers - I'm curious how much all that workover did for the production numbers 6 months later.

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