Southern Pacific Resource Corp STPJF

Short Position...

[ShatnersRug]

... as of end of trading day on February 28 is relatively unchanged.

The significance of this is that some entity put in a MOC buy order to the magnitude of half a million dollars on that day.

Something to chew on.

[ShatnersRug]

Sorry, I didn't complete my thought on the subject. The buying of the 2.6 million shares was NOT short covering. The short covering that will occur, and its associated positive effect on the SP is still in play. It's not a ludicrous amount of shares (just ~4 million), but the share price will jump for sure once it starts. When? The first catalyst will be Stephen Harper's government

[ShatnersRug]

I apologize once again. Getting way ahead of myself in my writing. Stupid decaf.. .... the project that I was referring to in the 3rd paragraph of my last post is the Northern Gateway Pipeline. I'm off to caffeinate.

[prairieboy1]

Hey Shat, It's interesting that you would bring up a possible quick decline of the oil flows from any shale operation in the USA or Canada. I have a connection with someone at MEG energy and asked her whether they were worried about the shale oil boom going on south of the border. Her reply was that they did the research and found that if there was a threat to shale oil leading to no demand

[JR5]

There is already a growing demand for Canadian crude from China. That's why they are buying into the oil sands. They know what their projected domestic consumption will be going forward. They also know that to go from raw land to where STP is and where they will be potentially in May will cost them an extra 100 million dollars if they wait even a couple years to break ground. They need a