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Southern Pacific Petroleu (SPPTQ) Message Board

  • tallguy18 tallguy18 May 13, 1998 10:47 PM Flag

    Definitely an asset play.

    No question in my mind that the technology works.
    SOmetimes the scale up surfaces problems. Also, a pilot
    plant in the next year isn't exciting now and the stock
    languishes. I predict that as we get near the pilot
    completion this stock will begin to get press and move.
    Probably worth double in a year.
    Does anyone know about
    managemnet competence and integrity? Ability to attract
    market makers and PR?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Last year I met the management of the twin
      companies at a presentation in Paris. They are very
      conservative and not the types to hype the merits of the
      company. They have been working on this project for over
      10 years and gave a very good impression. What the
      company needs is a good PR man who can promote it. When I
      look at the enormous possibilities of the companies
      and compare them to what is said and written about
      other small companies who are not worth a fraction of
      CPMNY/SPPTY I find it hard to understand why the stocks are
      still so low.

      • 1 Reply to jmdupont
      • A bit of history first- actually, they've been
        working on developing the shale fields for 30 years- came
        close with Esso Australia in 1979-1980, but there
        wasn't good cost effective extraction technology at that
        point. Esso decided to shelve the project, & "warehouse"
        their interest in the Rundle fields. (Notice that Esso
        didn't sell back the field, to get their $50 million
        back- they knew it was a cheap investment that would
        mature some time in the future). The taciuk retort came
        along in the late eighties, & that changed
        everything.

        The price ran up very well, from about .75/ADR to
        over $7/ADR, from the time the initial Suncor/twins
        deal was proposed in Dec. 1995, til July 1997 when the
        deal was consummated. At that point, it fell by half,
        obeying the old adage of "buy on the rumor, sell on the
        news". Alot of money pulled out because there would be a
        dead period of about 2 years, where nothing would be
        happening- just waiting for construction of the plant &
        first oil to flow- to prove the project is viable. So
        some people & institutions figured that they could get
        a better return in the meanwhile elsewhere, & could
        always jump back in at a date closer to payoff time.
        Also, the Aussie dollar fell app 23% over the last year
        or so, & that didn't help either. And this is not an
        internet stock, this is the stodgy energy sector, & at
        this point, the twins have no revenue, no oil has been
        produced as yet.

        That's my reading & also my
        understanding from some players in this.

        I guess a good
        PR man at this point won't hurt, but bottom line is
        performance in 1999 will be the best PR- believe you me, the
        world will take notice of a 25 billion bbl
        reserve.
        What will really move the price is when the oil starts
        flowing, & market starts to value the shale not as a
        resource, but as a reserve. This is one of the great asset
        plays of this century.

    • Go to Suncor's website- suncor.com- you'll see
      SPPTY & CPMNY are in good hands.

      I think as this
      thing comes together, the market maker/PR will fall
      into place. Right now, it's to a great extent
      irrelevant. The Southern/Suncor guys are not into hyping (you
      should have seen Sir Ian McFaralane being interviewed
      last year on CNBC by Jimmy Rogers)

    • I have been long on this company since 94 when I
      got in at .71 . They have been trying to get oil from
      shale for over 25 years now, and are on the verge (1.5
      - 2 yrs) of having a full-scale plant in operation.
      This is an excellent long-term play on a viable,
      proven technology. If you would like the ph # of the
      office in Australia, I will get if from the latest
      yearly report tonight and post it tomorrow. There is a
      wealth of info in the booklet, and I could be persuaded
      (easily) into posting more info if you have specific
      questions.

      • 2 Replies to stockermaner
      • I am also a long time investor in SPPTY & CPMNY.
        I sold at $3� (on the way up.) I want to accept
        your question answering offer--and the query relates
        to the production cost of oil from Queensland shale.
        Ten years ago, SPPTY said that estimated shale oil
        production costs were $40 to $45 per bbl. They also said
        that Japanese interests were financially helping SPPTY
        stay alive as a reserve for Japan in case world oil
        became scarce and shale oil production turned
        economically viable as an oil source for petroleum-poor Japan.
        Question: What has happened since I sold, if anything, to
        bring oil shale production costs down? What is the
        current and estimated future production cost of shale oil
        per bbl? Thanks in advance for your answer.

      • Must reading is at Suncor's website,
        www.suncor.com. One can get the whole story very easily, if one
        has no access to Southern or Central annual
        report.

        Also, you can check the twins prices in Australia- go
        to www.asx.com.au (the Aussie Stock Exchange)-
        symbols are SPP & CPM (remember, shares there are (duh!)
        in Aussie dollars & in the U.S., the SPPPTY & CPMNY
        ADRs represent 2 Aussie shares)

        There's an
        Australian brokerage that has a position in the twins &
        covers them on their website, tho not on a daily basis.
        It's www.wilsonhtm.com.au

 

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