Southern Pacific Resource Corp (TSX STP) added Mar 29, 2010
is engaged in the exploration and development of in-situ oil sands in the Athabasca oil sands region of Alberta, and the thermal production of approximately 5,000 barrels per day of heavy oil in Senlac, Saskatchewan.
The Corporation has an average 84 % working interest in 269 sections of Alberta’s oil sands. The productive zone is the McMurray Formation, consisting primarily of fluvial and estuarine channel sandstones which form the main bitumen deposits. On May 29, 2009, Southern Pacific filed an application for a 12,000 barrel per day (bbl/d) commercial steam-assisted gravity drainage (SAGD) oil sands project on its McKay block. Once approved and constructed, the STP-McKay Project is expected to produce between 10,000 and 12,000 bbl/d of bitumen for at least 30 years. The approval process takes approximately 12 to 15 months, during which time Southern Pacific plans to secure project financing and begin detailed engineering and long lead equipment procurement.
Southern Pacific is well positioned for growth with five additional prospect areas: Hangingstone West, Leismer South, Kirby, Long Lake and MacKenzie. The Corporation’s strategy is to bring its STP-McKay Project to the point of production as quickly and efficiently as possible. The cash flow from Senlac and the STP McKay Project will then be used to fund growth into Southern Pacific’s other oil sands leases.
Recent News: Southern Pacific Reports Cash Flow of $12.3 Million
Southern Pacific Reports Cash Flow of $12.3 Million for the Quarter Ended September 30, 2010
Southern Pacific to Acquire North Peace Energy
Southern Pacific Reports Cash Flow of $35.8 Million For the Year Ended June 30, 2010
Southern Pacific Reports Record Cash Flow of $13 Million for the Quarter Ended March 31, 2010
SOUTHERN PACIFIC REPORTS INCREASED HEAVY OIL RESERVES AT
SENLAC
Southern Pacific Earns $7 Million for the Quarter Ended December 31, 2009
....... RBC Capital Markets……Apr 05, 2011
Upgraded to OUTPERFORM from SECTOR PERFORM
STP Price day before: $1.72 Finish day of posting:$1.81Current:$1.77
-------Jan 14, 2011------
New SECTOR PERFORM
Target $2.00C
STP Price day before: $1.73 Finish day of posting:$1.71Current:$1.77
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Steve Toth ....... Canaccord/Genuity……Feb 09, 2011
Maintained SPECULATIVE BUY
Target $2.05C
STP Price day before: $1.79 Finish day of posting:$1.80Current:$1.77
--------Nov 10, 2010---------
Maintained SPECULATIVE BUY
Target $1.90C
STP Price day before: $1.40 Finish day of posting:$1.37Current:$1.77
------Sept 23, 2010------
Maintained SPECULATIVE BUY
Target $1.80C (Target Hit Jan 18, 2011)
STP Price day before: $1.11 Finish day of posting:$1.16Current:$1.77
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Randy Ollenberger ....... BMO Capital Markets……Jan 10, 2011
Maintained OUTPERFORM
Target raised to $2.00 from $1.70C
STP Price day before: $1.65 Finish day of posting:$1.67Current:$1.77
-------Mar 29, 2010--------
Maintained OUTPERFORM
Target raised to $1.50 from $1.20C (Target Hit Nov 25, 2010)
STP Price day before: $1.06 Finish day of posting:$1.17Current:$1.77
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Jeff Meunier ....... TD Newcrest……Oct 19, 2010
Maintained BUY
Target raised to $1.75 from $1.70C (Target Hit Dec 06, 2010
STP Price day before: $1.38 Finish day of posting:$1.34Current:$1.77
------Aug 20, 2010-----
Maintained BUY
Target raised to $1.70 from $1.60C (Target Hit Nov 30, 2010)
STP Price day before: $1.07 Finish day of posting:$1.05Current:$1.77
----Apr 15, 2010-----
New BUY
Target $1.60C (Target Hit Nov 30, 2010)
STP Price day before: $1.32 Finish day of posting:$1.28Current:$1.77
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Guy Gordon ....... Byron Capital Markets ……Sept 28, 2010
Maintained STRONG BUY
Target $3.75C
STP Price day before: $1.22 Finish day of posting:$1.19Current:$1.77
-------Feb 23, 2010------
Maintained BUY
Target $2.50C
STP Price day before: $0.90 Finish day of posting:$0.86Current:$1.77
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Justin Bouchard ....... Raymond James……Aug 20, 2010
Maintained STRONG BUY
Target raised to $2.50 from $2.25C
STP Price day before: $1.07 Finish day of posting:$1.05Current:$1.77
------Mar 29, 2010----
Maintained STRONG BUY
Target raised to $2.50 from $2.00C
STP Price day before: $1.06 Finish day of posting:$1.17Current:$1.77
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Richard Wyman ....... Canaccord/Genuity……May 19, 2010
Maintained BUY
Target reduced to $2.05 from 2.50C
STP Price day before: $1.00 Finish day of posting:$0.95Current:$1.77
------Apr 27, 2010-------
Maintained BUY
Target raised to $2.50 from $2.05C
STP Price day before: $1.25 Finish day of posting:$1.25Current:$1.77
-------Mar 29, 2010---------
Maintained BUY
Target raised to $2.05 from $1.50C
STP Price day before: $1.06 Finish day of posting:$1.17Current:$1.77
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Southern
Pacific Resource Corp
Short Positions TSX
Date
Outstanding
Apr 01 to 15, 2011 1.31million $1.83 to $1.70
Mar 16 to 31, 2011 955,074 $1.77 to $1.65
Mar 01 to 15, 2011 616,986 $1.95 to $1.58
Feb 16 to 28, 2011 796,679 $1.95 to $1.81
Feb 01 to 15, 2011 500,051 $1.90 to $1.73
Jan 16 to 31, 2011 1.48million $1.81 to $1.65
Jan 01 to 15, 2011 1.25million $1.78 to $1.61
Dec 16 to 31, 2010 956,437 $1.68 to $1.52
Dec 01 to 15, 2010 477,326 $1.73 to $1.51
Nov 16 to 30, 2010 2.96million $1.74 to $1.35
Nov 01 to 15, 2010 2.53million $1.45 to $1.32
Oct 16 to 31, 2010 2.52million $1.40 to $1.28