Southern Pacific Resource Corp STPJF

interest payments -$15 million interest payment per year??

[dreaddogs]

just trying to understand...i would have to pay 15 million dollars a year on just interest payments to carry this debt.  

this correct?

[nikehercules]

Face value, that's what it would appear. However, STP is very near breakeven. The free cash flow from the projected production should mean they will be able to pay down the loan pretty quick. The most important news was the one well was producing 700-900 bbls/day. ICD's double production on well conformed SAGD pairs and reduce the SOR to some of the best numbers in the industry. Even

[TedRiot]

yes but bear in mind that stp is replacing an existing credit facility, so we are not talking about an additional $10.5mil, likely no more than an addition of $3mil annual interest cost.  if the ICDs are the answer to your prayers then maybe Mackay can reach 7000bbl/d by Xmas.., they may be able to chip away at the debt burden if oil prices do not collapse

[adamsight]

wow 5 stars to none in 1 day cover your shorts or you will lose your home I feel sorry for you

[nikehercules]

Let's keep things civil. There are going to be alot of new people looking at this board tomorrow. Let's not have this place degenerate into PRY. Take a look at the PRY board and ask yourselves what kind of impression it has on a new investor. NH

[adamsight]

ok ok sorry I am emotioanlly attached to this stock A

[demarko]

On more seriouse note. Since they figured out there debt issue. They will put get Senlac up to production by end of this year. I think that is super exciting, along with more ICD's at McKay. This could very well be a huge story for 2014. If bully Russia keeps there cr@*#p up we can see a huge increase in oil prices and in return more investment in" safe oil" by normal countries

[tp0052]

I agree there definately is no shortage of Bullboard trashing appears on many of the Stockhouse boards. The lack of bashing / pumping / dumping is one of the many reasons, I so enjoy participating in this bullboard. I started investing last year with little to no investment experience whatsoever. Since Oct of last year I have been a stockholder of STP. It has not always been fun and there were

[Titan62]

You sound just like me.  I just got started in investing too and am currently in the red.  Learning from my mistakes and gaining back my money.  Hopefully a pop in the SP here will help in a big way to get me back on solid ground.  GLTA