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Bullboard - Stock Discussion Forum 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... see more

GREY:STPJF - Post Discussion

Southern Pacific Resource Corp > The Nov 14 press release says a lot
View:
Post by geodude13 on Dec 14, 2013 7:09am

The Nov 14 press release says a lot

150 bbl/d per well pair at Mckay is concerning. These wells should be making north of 800 bbl/day after circulation. Trading on pennies is fun for those that time the rise but the fundamentals are that McKay may be a really bad reservoir. If STP can't find $85MM to fund the next round of pads then the cash is projected run out at the end of the year. Trading pennies can still be done but the slope on the stock price will still be negative. Regards
Comment by ShatnersRug on Dec 14, 2013 10:18am
Geodude, you hit the nail on the head. I've mentioned it twice before. Senlac production down along with tech/mech difficulties on both sites turned me off to the long term viability of the company. The asset sale was the nail in the coffin. The last NR mentioned that management will be considering financial alternatives, JVs, buyouts, and whatnot. They will be unsuccessful in this endeavour ...more  
Comment by kbusby on Dec 14, 2013 5:28pm
You speak with such certainty--lol! But you have no special insight. All you can state is your own opinion, which I believe will be proven wrong just as your short will be money-losing.
Comment by ShatnersRug on Dec 14, 2013 7:43pm
Frankly, I couldn't care less as to what you think of my long/short position on STP. What I would like to hear though, is why you are bullish on STP based on what we know right now.
Comment by kbusby on Dec 15, 2013 7:33pm
Frankly, I couldn't care less what you would like to hear. I don't take someone with a childish ID (Shatnersrug) seriously.
Comment by craighenry on Dec 15, 2013 8:10pm
Kind of funny you would come on this board and slam a long time poster......dont you think? Shatner is a long time follower of STP and knows more about the company's fundamentals than you do. I would say he is taken alot more seriously than someone who 'heard about STP from the CSI board'
Comment by kbusby on Dec 15, 2013 9:03pm
Craighenry:Kind of funny, don't you think, that with two posts on this board (both tonight) you would come on this board to defend one of your alternate ID's--too funny.
Comment by craighenry on Dec 15, 2013 9:10pm
Kbusby......you really are an idiot arent you? Look at my post in November. Yeah....two tonight hey?