Southern Pacific Resource Corp STPJF

STP

[bambus]

guys, when will we most likely find out what's happening with STP assets now... will they get CCAA extension past Feb 20 ? Is this thing gonna drag for couple of years ? Just wondering....thanks

[nikehercules]

Credit Suisse has requested all of STP's assets be put on the auction block. March 24th is the submission deadline. Updated documents are on the monitor's website.

[birdie22]

Any ball park figures on what they may get for the 2 producing plants and reserves in todays market and firesale situation ,anyone . Thanks

[Pandora]

Seems to me when they built McKay and Lutes was getting all the praise for being 'on time' and 'on budget' it was just under the $500 million figure. Don't know about the rest.

[nikehercules]

Credit Suisse will have a stalking horse bid, so the minimum will be the value of the first lien.

[HRc60to65]

It is not a real stalking horse bid. STP has no obliagtion to retain any bid. Secured lender can bid on STP asset. Everything can append

[monzie]

Looks like there are two non disclosures signed so far

[Pandora]

Todays news. Is this telling us something we didn't already know. They're not issuing the financials and that will result in a 'cease trade' order -- is that substantially different than the halt that is already in place? CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Southern Pacific Resource Corp. (TSX:STP) announces today that it will not be filing the interim financial

[monzie]

Nope a cease trade and a permanent halt are the same. It should result in more companies signing non disclosures to see the information tho

[Sadgop]

The on time and on budget can be credited to the project team of Drifter, AMEC - BDR, and the BP of Projects for STP at that time. Lutes had very little to do with the project itself. He was however involved in the decisions of where and how the wells would be drilled which ultimately led to STP ' S demise. Some company is gonna scoop this thing up for a huge discount. Then they are going to