Southern Pacific Resource Corp STPJF

Nice, he can read

[Billionaire_2B]

Nothing new here? guess that was expected

[freedom45]

did i hear that correctly : between 700 and 900 bbl/day again without commiting an exact number  2P1?.............. expects further upside 2P1. 60% open right now only............ $10M ICD to pad 2 first then 1P2 for early candidates.   ICDs already in possesion............. Senlac $18 M spend up tp 2000 bbl /day increase anticipated..................

[adamsight]

thank god I heard it as total of 2000 bpd on senlac and my wife said i misheard by the time its done it would be 3200  3500 bpd? whats the roll of on senlac /mo? anyone? no april numbers yet? will we see this? no operating line of credit? does this mean they cant use the loan for running the business?

[monzie]

Actually Adam I believe the question asked how much they've drawn on since March 31st and Lutes said that they aren't drawing on the line of credit right now because they have 4 million dollars in the bank.  They've already paid for some of the ICD's as he said they have them in stock.  And yeah he said the 18.8 million for Senlac Pad L would produce 1500 - 2000 bbl/d

[adamsight]

sounds good

[Eyeinvestor]

Ahem......they have $59 million in the bank! They do not have a line of credit. They repaid the line of credit and closed it. Now they have cash.

[Billionaire_2B]

YEP! Running between 700 and 900 right now and increasing. That was great news!!