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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... see more

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Southern Pacific Resource Corp > Executives abruptly resign

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Post by zanadu123 on Dec 10, 2013 4:09pm

Executives abruptly resign

. . . . . . . . . . CALGARY — Two of the top executives in capital-starved Sunshine Oilsands Ltd. have suddenly resigned, the company announced early Tuesday morning. President and chief executive John Zahary and chief financial officer Robert Pearce have tendered their resignations, Sunshine said in an announcement tacked on the bottom of a news release about the closing of its recent financing. I WORRY ABOUT STP...insiders not buying!!

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Comment by ShatnersRug on Dec 10, 2013 4:14pm

Rubbish

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Comment by zanadu123 on Dec 10, 2013 4:17pm

Shat: This rubbish is not as frustrating as the price of this shi*.....you can really see how frustrated I am...

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Comment by nikehercules on Dec 10, 2013 4:22pm

Just looked up the press release. It's a shot in the arm to get things going, better than staying in limbo. Sunshine has enormous land holdings but absolutely no cash (sound familiar?) It seems the oilsands are no country for small SAGD firms.

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Comment by ShatnersRug on Dec 10, 2013 4:23pm

What is most definitely rubbish is throwing a negative NR that has nothing to do with STP at the board. But yeah, the hard-selling that has been going on is troublesome. Shareholders will find out what is going on soon enough via the monthly update. Keep in mind that nothing DRASTIC has happened to STP. If something did and it was material, a halt would have been ordered by the exchange. On the ...more

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Comment by zanadu123 on Dec 10, 2013 4:24pm

Won't you agree that the IR at STP is rubbish? I contribute atleast 40% of the loss due to their ineffectiveness.

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Comment by ShatnersRug on Dec 10, 2013 4:30pm

I disagree with your assessment on what is behind STP's latest SP difficulties. You are free to think along those lines and to base your investment decisions on these interesting assessments. It is, after all, a free market. :)

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Comment by nikehercules on Dec 10, 2013 4:30pm

Shat is right, and I don't mean to pump. When i mentioned something "catastrophic" appears to have happened given the SP, the CFO immediately said they would issue a press release. catastrophic would be: 1) Fire 2) Oil leaking to the surface 3) Striking gold instead of oil I have spoken at length with STP about #2, they assure me HPSS is not at a high enough pressure to fracture ...more

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