Southern Pacific Resource Corp STPJF

glen miller, my mom loved the glen miller orchestra

[adamsight]

New application dated today, was marked confidential, called in and that was a boo boo
was told application for icd type thingy
https://portal.aer.ca/portal/site/pnoa/menuitem.8f9e6aa9cc7e9c7eee05e463222a10a0/?appNumber=1796674

[nikehercules]

Thanks Adamsight  -  good sleuthing. The last ICD's were not marked confidential, so why the sudden hush hush nature of the ICD's? There's most likely a confidentiality clause in place by the buyer/JV partner. Good news. NH

[ShatnersRug]

Alright, so the amendment states that a "steam breakthrough" occurred in 2P5. I am unsure so I need to ask... Does this constitute a breakdown in the integrity of the well? Will it need to be reworked??? Production-wise it's not a huge deal as 2P5 is not a major contributor to Pad 2's overall performance, but still. Good to know what lies ahead.

[Duxing]

Shat, if you are interested, go to Sunshine oilsands website. There is a very good video presentation introduce  sunshine's west ells project. There is a lot focus in the vedio talking about how SAGD  well pair works, how steam chamber developed, how steam breakthrough occurs under certain conditions. Very useful.

[Eyeinvestor]

Shat, Steam breakthroughs is another phrase to describe hot spots. In order to prevent damage to the well, they choke back steam. They still get production in the warm parts of the well, but the rest of the well is not producing. An ICD will control the problem. By installing an ICD, the steam can be turned up again. Initially we get more from the conforming part of the well (STP McKay so far has

[Eyeinvestor]

If the company is on the verge of being sold then the reason for the delay is fairly obvious. Why spend $20 million of our money now, when the benefit of the investment will accrue to the new owner? If the company is not on the verge of being sold then the reason for the delay is......Ahhhh....Ummm....sorry I cant think of a reason...Can you?

[nikehercules]

Eyeinvestor: It's not immediatley obvious to Alistair until it's pointed out. I don't think the analysts actually read the press releases all that carefully. In this case, he didn't put the seperate releases together. He actually though the delay was due to the old 1st lein line of credit. As accountants, what they do focus on are numbers, so i do like that $1.00 projection if

[Pandora]

Wilan is another company that has been in a "strategic review" for many months and after all that they came out with a statement yesterday that says effectively we will keep doing what we do but try to do a better job of doing it i.e. status quo. Market accepted it with about a 10% drop I believe. Nice! Are we likely to be different. "Strategic Review" another name for let'

[monzie]

Pandora that would make sense if they were going ahead with installing the ICD's that they have, as well drilling the new wells at Senlac while claiming to be in the review process.  But they have decided to put those on hold until the "Strategic review" is over.  So they're clearly not just stalling and buying more time as they're not doing anything right now to