Southern Pacific Resource Corp STPJF

This is not intended to be a happy ending.

[wittmann]

Stp of late ,will never have a happy ending.Its a matter only of survival....it no longer matters what those conditions are.If its a reverse split,the company survives,but so what?? Will any of the posters here be happy??I think not.
When one reads between the lines,(thats all we ever could do anyway the last year) we will see that the company couldnt reach any agreement at all.But we lack ALL THOSE DETAILS...count'em   ALL .That means as I have stated many times we are in the dark so we speculate......
How many here  in the future will crow 'SEE I TOLD YOU SO? "  and either way does it matter??

EVERY POSTER HERE WAS WRONG THE LAST YEAR OR SO,THEREFORE LETS NO LONGER PRETEND THAT WE'RE SO DAMN SMART.Its time to shut up because we sure all look stupid to any new reader.

[Jzkbbi]

What does a reverse split have to do with the survival of the company?  A reverse split is semantics.

[himmler]

He sure has an abrasive writing style but he means well I'm sure.I think what he's implying is that a reverse split has  a negative sentiment effect on any stock.Something we sure dont need now.And lest we forget that statistically reverse splits rarely are a  success .But I'm sure he can answer himself.

[wittmann]

You answered your own question...it is semantics and nothing  more.I dont see your objection when you obviously agree.The statement I was making about the reverse split was more in reference to other poster's "hopes" of this company's possble turnaround.A reverse split technically happens when a company wants it self to qualify for certain trading conditions.So at this stage

[farmerman]

I dont see a reverse split happening this year, next year likely. Dave Antony advised me not 2 weeks ago it was not one of the options on the table at this time. Consolidation is a concern of mine and will be till I dont own anymore stock..Fear is important in owning a company like this but in this I have no fear. I see it like this they get to 2500 - 4500 bpd by year end they sell an asset to

[HRc60to65]

i AGREE: Its along ways from going broke, its hard for a public company with assets and income to go broke

[monzie]

Actually Wittman reverse splits sometimes do turn out nicely for current/newer shareholders.  Yellow Pages was probably the most hated stock a couple of years ago and it sunk all the way down to 2 cents and stayed there for awhile where CCAA and bankruptcy were assumed to be around the corner.  Well they announced the debt restructuring and a 200 to 1 reverse split for the commons plus

[Pandora]

So if you had 20000 shares that you paid $1/sh for i.e. $20000 and they consolidated 1 for 200 so you ended up with 100 shares and they went all the way up to $25 you ended up with $2500 in lieu of your original $20,000 -- is that the type of thing you're saying is not negative? Maybe I got the story wrong.

[wittmann]

I will be right to the point here,and hence blunt.Your defensive argument is baseless.I know ...my wife owns (owned )Yellow pages since way back when it was touted as an ideal retirement income stock.It went from $12 to $10 to almost zero.The split left her with 4 regular shares at $40.16 AND 2 warrants totalling $2.45...you call this a good thing??Thats the problem with this bullboard and what

[monzie]

I think you both completely missed my point feel free to read the line where I wrote newer shareholders, and last time I checked YLO was under a dime for almost a year.   Good God you really are extremely defensive Wittman I was giving an example where a reverse split went up since you're the one who said you had never heard of or seen a reverse split going up , those were your

[rad10]

Wittman - Yellow Media presented several opportunities a few years ago - MTNs could be bought prior to the recap at 40 cents on the dollar (2036s traded into the low 30s).  Common and preferred equity holders were wiped out, debenture holders who speculated JUST prior to the recap did very well, and secured holders made out like bandits. Ivanhoe Energy is a tough read - very tightly held

[monzie]

Actually Rad those who bought the commons for well under ten cents were not even close to being "wiped out" and made out like bandits as well (provided they held on to their shares for about a year after the restructuring), as did those who bought the preferreds and debentures at those depressed levels, if I remember correctly all of the preferreds at one point were going for around 20

[rad10]

Monzie - I had a toast to the incompetence of Mr  M.T. after all the dust had settled. Glad to hear the YLO equity holders did well too.  Lets hope a similar scenario materialises over at STP. Fingers crossed.  Have a great weekend.

[monzie]

Same here Rad.  His dad is the only reason that he had a job and kept it for so long.  Yeah I doubt STP will follow the same suit as YLO - with regards to the restructuring and reverse split - atleast I hope they don't cause somebody will eventually figure out how to get this oil out and I just hope it's this same company in tact and not debt holders or another company who bought

[himmler]

Thanks Monzie for wasting my time.I just read through Wittmans posts and nowhere did he say' I never heard of a reverse split going up'  Highlight that comment in its entirety,and you will see you cant.Its misinformation like that ,that he is complaining  about.    What he did say and very clearly was that long term shareholders rarely benefit.I suggest you read more

[ShatnersRug]

@ Himmler LOL!!!!!!!!!!!!!!!

[monzie]

Himmler please don't soil your Depends on my account. And get one your grand kids to look up the word existing for you.