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Southern Pacific Resource Corp T.STP

Sector: Energy | Sub-Sector: Oil & Gas E&P
Alternate Symbol(s):  STPJF

Price: N/A | Change: N/A | %Change: N/A
Volume: 0 | Day High/Low: N/A/N/A | 52 Week High/Low: 0.38/0.005
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RE:RE:RE:RE:RE:RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

Refelcting on this more I see the point of the Affidavit from the 2nd lien holders. The buyer of this train wreck will reap the reward when he takes an axe to the cost areas as is normally done more
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RE:RE:RE:RE:RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

An updated monitor's report has just been published. From mar 8 - Apr 25 cash flow forecast they would be operating  at a 26% loss. Based on the affidavit perhaps there's room to cut for a new more
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RE:RE:RE:RE:RE:RE:RE:common stock holders

Except for those that happened to have it in an RRSP, RIF or TFSA. But then you only put bonds and GIC's in those right. Nothing with a risk -- oh, you say bonds are risky.  rate and reply
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RE:RE:RE:RE:RE:RE:common stock holders

I was trying to find a company that went under CCAA protection and that came out of it with common share holders benefiting in some way....nothing, cant find a single one. We just have to make more
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RE:RE:RE:RE:RE:common stock holders

Maybe mid April we will hear something after the SISP closes on April 2.  rate and reply
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RE:RE:RE:RE:common stock holders

Hello, Do you have a guess when this will all come together? One way or another.  rate and reply
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RE:RE:RE:common stock holders

it depends on the deal. is it an asset purchase (nothing for share holders) , a company purchase (probably)  or financial investment (probably) An asset is the cleanest because you can get more
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RE:RE:common stock holders

great  rate and reply
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RE:common stock holders

I would assume that for common shareholders with the assets outside of registered accounts (RRSP, RIF, TFSA) that it will be a complete capital loss for tax purposes. For those inside the more
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common stock holders

at the end of the day, we all agree common shares have no chance to get something out of it? I understand everyone else needs to get paid first...but if there is by some miracle a deal or buyer more
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RE:RE:RE:RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

dbinvestor - good point about the monitor. Tenders are due April 2, 2015, and the Stay Period is extended to April 27th. April will be a critical month for STP.  rate and reply
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RE:RE:RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

My post is about getting some of the facts out that are buried in the affidavit/court docs. Seems many people woldl rather read these posts then the source documents :) I wouldnt expect a more
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RE:RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

According to the second monitor report, it didn't sound like fixing Senlac & McKay could be done quickly during the con-call with McDaniel & the subordinated debtholders. The monitor states, " more
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RE:RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

It does seem that the executive are pandering to Credit Suisse.  Attempting to railroad a quick deal etc etc.  I wonder what is going on behind the scenes - time will tell.  rate and reply
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RE:RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

I posted all this last week db with the same link it's quite an accusation against management for sure.  I'm actually surprised the 2nd lien holders weren't able to stop the CCAA from being filed. more
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RE:Affidavit: "...McKay and Senlac ...grossly mismanaged"

sorry ... in my disgust at Byron Lutes, executive Management and the Board upon reading this , I forgot to post the link.....  rate and reply
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Affidavit: "...McKay and Senlac ...grossly mismanaged"

This affidavit is a MUST READ! Go to the 2nd to last page and read the letter . To summarize, lawyers for a group of Holders of debt ( stated as "investment advisors that manage funds" who hold more
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RE:RE:RE:RE:Sell of the Company?

Ouch for the 2nd lien holders - obviously I can't get a return call from anyone at STP,  PWC always steer towards the website.  Creditor list is very long as of January the 21st: more
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RE:RE:RE:Sell of the Company?

True enough rad, unfortunately I have a bit of a gambling addiction and can't help betting on the underdogs for the bigger payout.  But I do hedge my bets with some of the debt as well.  What do more
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RE:RE:Sell of the Company?

Farmerman - fact is most of these smallcaps are run for the benefit of their executives rather than the shareholders.  It's why I usually invest in the debt rather than the equity.  rate and reply