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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GREY:STPJF - Post Discussion

Southern Pacific Resource Corp > High Risk potential Home Run

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Post by investor2015 on Aug 25, 2014 2:53pm

High Risk potential Home Run

I started a position today art $0.065. Not a big one. But I think this could be a double very soon. High Risk/High Reward. Only small position.

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Comment by CommunityMind on Aug 25, 2014 3:02pm

That's what I thought back in January. Then I was fooled by the positive NR in Feb and Mar. There was a lot of optimism on the BB that STP had figured things out with ICD installations and were about to turn things around. Look at the SP and the production numbers from then until now and the picture is very clear.

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Comment by investor2015 on Aug 25, 2014 3:08pm

I see what your saying but the company has got to be worth more than a mere $25M. I think the company has a better chance of getting bought out or selling assets than going bankrupt. I understand its a high risk play. This is one of the few short term positions I have.

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Comment by CommunityMind on Aug 25, 2014 3:59pm

In my opinion (and others) this company is basically bankrupt and a total lose to the share holders. The only ones who get their money back are the secured lenders. There is no hope of a buyout. That was the purpose of the review and no one was interested. Whatever assets they have belong to the secured lenders and they'll get those as soon as the STP bank runs dry in a few months. I think ...more

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