Southern Pacific Resource Corp (STPJF) 0.0001 $STPJF
Southern Pacific Creditors File Receivership Application
Marketwired - Thu May 28, 3:31PM CDT
Southern Pacific Resource Corp. (the "Company" or "Southern Pacific"
announced today that the Company's First Lien Term Loan Creditors have filed an application with the Court of Queen's Bench of Alberta to place the Company into Receivership and appoint a Receiver to manage the Company's affairs. PwC Canada ("PWC" had been appointed by the Court as monitor under the existing CCAA proceedings and has been proposed as the Receiver in order to provide continuity to the insolvency process. All of the materials filed with the Court, including the Initial and subsequent Orders under the CCAA and the application for Receivership, are available on the PWC's website (www.pwc.com/car-stp). The application is scheduled to be heard in Court on Monday, June 1, 2015 at 8:30 AM MT.
Southern Pacific Plans to Suspend Operations at STP-McKay
Marketwired - Thu May 14, 12:09PM CDT
Southern Pacific Resource Corp. (the "Company" or "Southern Pacific" is making plans to hibernate the STP-McKay facility by the end of July, 2015. The hibernation plans are thorough and are intended to enable preservation of the assets for an extended period, if required. With the current low priced crude market the property continues to generate negative cash flow and thus this measure was deemed necessary in order to preserve capital.
Southern Pacific Provides Disclosure and Listing Update
Marketwire Canada - Wed Feb 11, 8:00AM CST
Southern Pacific Resource Corp. (TSX:STP) announces today that it will not be filing the interim financial statements and management discussion and analysis for the three and six months ended December 31, 2014 and related disclosures ("Quarterly Disclosure", which are due February 13, 2015. The Company's failure to file its Quarterly Disclosure will result in the issuance of a cease trade order by the Canadian securities regulatory authorities which will prohibit the trading of the securities of the Company.
STP.TO: 0.01 (unch)
IIROC Trade Halt - Southern Pacific Resource Corp.
Newsfile Corp - Thu Jan 22, 7:13AM CST
The following issues have been halted by IIROC:
Southern Pacific Files for Creditor Protection Under the CCAA
Marketwired - Wed Jan 21, 6:31PM CST
Southern Pacific Resource Corp. (TSX: STP) announces today that it and certain of its subsidiaries (and partnership), Southern Pacific Energy Ltd., 1614789 Alberta Ltd., 1717712 Alberta Ltd. and Southern Pacific Resource Partnership (collectively "Southern Pacific" or the "Company" have obtained creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA" pursuant to an Order granted on January 21, 2015 by the Court of Queen's Bench of Alberta, Judicial Centre of Calgary (the "Court".
STP.TO: 0.01 (unch)
Southern Pacific Provides Corporate Update
Marketwired - Fri Jan 16, 7:01AM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company" (TSX: STP) announced today that it has received notification from the TSX stating that the TSX is currently reviewing the eligibility of the Company for continued listing of its Common Shares and Debentures on the TSX.
STP.TO: 0.01 (unch)
IIROC Trade Resumption - Southern Pacific Resource Corp.
Newsfile Corp - Wed Dec 31, 7:05AM CST
Trading resumes in:
Southern Pacific Elects Not to Make Convertible Debenture Interest Payment During Strategic Review and Capital Restructuring Process
Marketwired - Tue Dec 30, 7:02AM CST
Southern Pacific Resource Corp.'s ("Southern Pacific" or the "Company" (TSX: STP) Board of Directors has been engaged in a strategic review process with RBC Capital Markets, its financial advisor, to devise and implement a strategy to address the Company's liquidity and financing requirements and improve its capital structure. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the current debt structure and obtaining additional financing necessary to fund ongoing operations and to drill additional wells at STP-McKay and Senlac. The alternatives under consideration and review include the sale of all or a portion of the Company's assets, a recapitalization, debt and capital restructuring through statutory or other procedures, or a combination of the foregoing.
STP.TO: 0.01 (unch)
Southern Pacific Launches Review of Capital Structure and Strategic Alternatives
Marketwired - Wed Dec 03, 7:04AM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company" (TSX: STP) today announced that its Board of Directors has initiated a process to identify, examine and implement strategic and financial alternatives available to the Company in order to address its liquidity and capital structure.
STP.TO: 0.01 (unch)
Southern Pacific Closes $19.5 Million Non-Core Asset Disposition
Marketwired - Tue Nov 25, 1:27PM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company" (TSX: STP) today completed the closing of the previously announced agreement to dispose of its entire interest in its Red Earth assets. The consideration for this sale is $19.5 million cash.
STP.TO: 0.01 (unch)
Southern Pacific Resource Corp. Announces Meeting Results
Marketwired - Thu Nov 20, 8:05AM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company" (TSX: STP) is pleased to announce that at the annual general and special meeting held in Calgary, Alberta on November 19, 2014 (the "Meeting" holders of common shares of Southern Pacific: (i) re-elected Byron C. Lutes, David M. Antony, Sid W. Dykstra, Kenneth N. Cullen, Ross D.S. Douglas and Tibor Fekete to the Board of Directors; and (ii) re-appointed Deloitte LLP, as Southern Pacific's auditors.
STP.TO: 0.01 (unch)
Southern Pacific Announces $19.5 Million Non-Core Asset Disposition
Marketwire Canada - Mon Nov 17, 1:24PM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company" (TSX:STP) today announced the signing of an agreement to dispose of its entire interest in its Red Earth assets. The consideration for this sale is $19.5 million cash and the transaction is expected to close on or about November 25, 2014. The Red Earth assets were non-core to the Company, consisting of 135 sections of land and a pilot project thermal facility. Southern Pacific did not carry assigned contingent resources or reserves for this property. The Company continues to explore divestment opportunities of its other non-core assets.
STP.TO: 0.01 (unch)
Southern Pacific Creditors File Receivership Application
Marketwired - Thu May 28, 3:31PM CDT
Southern Pacific Resource Corp. (the "Company" or "Southern Pacific"
announced today that the Company's First Lien Term Loan Creditors have filed an application with the Court of Queen's Bench of Alberta to place the Company into Receivership and appoint a Receiver to manage the Company's affairs. PwC Canada ("PWC" had been appointed by the Court as monitor under the existing CCAA proceedings and has been proposed as the Receiver in order to provide continuity to the insolvency process. All of the materials filed with the Court, including the Initial and subsequent Orders under the CCAA and the application for Receivership, are available on the PWC's website (www.pwc.com/car-stp). The application is scheduled to be heard in Court on Monday, June 1, 2015 at 8:30 AM MT. Southern Pacific Plans to Suspend Operations at STP-McKay
Marketwired - Thu May 14, 12:09PM CDT
Southern Pacific Resource Corp. (the "Company" or "Southern Pacific"
is making plans to hibernate the STP-McKay facility by the end of July, 2015. The hibernation plans are thorough and are intended to enable preservation of the assets for an extended period, if required. With the current low priced crude market the property continues to generate negative cash flow and thus this measure was deemed necessary in order to preserve capital. Southern Pacific Provides Disclosure and Listing Update
Marketwire Canada - Wed Feb 11, 8:00AM CST
Southern Pacific Resource Corp. (TSX:STP) announces today that it will not be filing the interim financial statements and management discussion and analysis for the three and six months ended December 31, 2014 and related disclosures ("Quarterly Disclosure"
, which are due February 13, 2015. The Company's failure to file its Quarterly Disclosure will result in the issuance of a cease trade order by the Canadian securities regulatory authorities which will prohibit the trading of the securities of the Company. STP.TO: 0.01 (unch)
IIROC Trade Halt - Southern Pacific Resource Corp.
Newsfile Corp - Thu Jan 22, 7:13AM CST
The following issues have been halted by IIROC:
Southern Pacific Files for Creditor Protection Under the CCAA
Marketwired - Wed Jan 21, 6:31PM CST
Southern Pacific Resource Corp. (TSX: STP) announces today that it and certain of its subsidiaries (and partnership), Southern Pacific Energy Ltd., 1614789 Alberta Ltd., 1717712 Alberta Ltd. and Southern Pacific Resource Partnership (collectively "Southern Pacific" or the "Company"
have obtained creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA" pursuant to an Order granted on January 21, 2015 by the Court of Queen's Bench of Alberta, Judicial Centre of Calgary (the "Court". STP.TO: 0.01 (unch)
Southern Pacific Provides Corporate Update
Marketwired - Fri Jan 16, 7:01AM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company"
(TSX: STP) announced today that it has received notification from the TSX stating that the TSX is currently reviewing the eligibility of the Company for continued listing of its Common Shares and Debentures on the TSX. STP.TO: 0.01 (unch)
IIROC Trade Resumption - Southern Pacific Resource Corp.
Newsfile Corp - Wed Dec 31, 7:05AM CST
Trading resumes in:
Southern Pacific Elects Not to Make Convertible Debenture Interest Payment During Strategic Review and Capital Restructuring Process
Marketwired - Tue Dec 30, 7:02AM CST
Southern Pacific Resource Corp.'s ("Southern Pacific" or the "Company"
(TSX: STP) Board of Directors has been engaged in a strategic review process with RBC Capital Markets, its financial advisor, to devise and implement a strategy to address the Company's liquidity and financing requirements and improve its capital structure. Strategic and financial alternatives under consideration are focused on relieving the financial burden of the current debt structure and obtaining additional financing necessary to fund ongoing operations and to drill additional wells at STP-McKay and Senlac. The alternatives under consideration and review include the sale of all or a portion of the Company's assets, a recapitalization, debt and capital restructuring through statutory or other procedures, or a combination of the foregoing. STP.TO: 0.01 (unch)
Southern Pacific Launches Review of Capital Structure and Strategic Alternatives
Marketwired - Wed Dec 03, 7:04AM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company"
(TSX: STP) today announced that its Board of Directors has initiated a process to identify, examine and implement strategic and financial alternatives available to the Company in order to address its liquidity and capital structure. STP.TO: 0.01 (unch)
Southern Pacific Closes $19.5 Million Non-Core Asset Disposition
Marketwired - Tue Nov 25, 1:27PM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company"
(TSX: STP) today completed the closing of the previously announced agreement to dispose of its entire interest in its Red Earth assets. The consideration for this sale is $19.5 million cash. STP.TO: 0.01 (unch)
Southern Pacific Resource Corp. Announces Meeting Results
Marketwired - Thu Nov 20, 8:05AM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company"
(TSX: STP) is pleased to announce that at the annual general and special meeting held in Calgary, Alberta on November 19, 2014 (the "Meeting" holders of common shares of Southern Pacific: (i) re-elected Byron C. Lutes, David M. Antony, Sid W. Dykstra, Kenneth N. Cullen, Ross D.S. Douglas and Tibor Fekete to the Board of Directors; and (ii) re-appointed Deloitte LLP, as Southern Pacific's auditors. STP.TO: 0.01 (unch)
Southern Pacific Announces $19.5 Million Non-Core Asset Disposition
Marketwire Canada - Mon Nov 17, 1:24PM CST
Southern Pacific Resource Corp. ("Southern Pacific" or the "Company"
(TSX:STP) today announced the signing of an agreement to dispose of its entire interest in its Red Earth assets. The consideration for this sale is $19.5 million cash and the transaction is expected to close on or about November 25, 2014. The Red Earth assets were non-core to the Company, consisting of 135 sections of land and a pilot project thermal facility. Southern Pacific did not carry assigned contingent resources or reserves for this property. The Company continues to explore divestment opportunities of its other non-core assets. STP.TO: 0.01 (unch)
