Bullboard - Stock Discussion Forum Southern Pacific Resource Corp STPJF

Energy Oil & Gas E&P

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 > What's next?

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Post by canada110 on May 08, 2014 10:21am

What's next?

Where to next for us still holding? Buy,sell,hold? I myself still think the future has some upside of course..

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Comment by Eyeinvestor on May 08, 2014 10:31am

My guess is that 2P1 is currently at 550bbd, and based on the call we heard where the March levels of around 700 were 60% conformance, that would indicate that over the next 6-12 months, a well configured like pad 2 with ICDs installed is capable of around 1,100 to 1,200 bbd. Good new piece to the puzzle.

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Comment by Eyeinvestor on May 08, 2014 10:44am

Much less insight on what pad 1 is capable of. I have always argued that Pad 1 is less important in valuing STP. But STP is right to see how ICDs help control this challenging pad. 184 out of 1P5 on average for March is interesting. The early March news release mentioned 2x fluid compared to January and February's 50 bbd. This means that March STARTED at 100 bbd but AVERAGED 184 bbd. So the ...more

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Southern Pacific Resource Corp