STP

Byron Capitals har satt en target på C$3.75

Raymond James Target $2.50

Canaccord/Adams Target $2.05

BMO Capital Markets $1.50

Och här Canaccords analys innan conf call i fredags:

Southern Pacific Resource Corp. Richard Wyman, MBA, 1.403.508.3886 STP : TSX-V : C$1.02 222.8M Under Review

• Significant reserves increase at McKay; placing rating and target price UNDER REVIEW Event Southern Pacific announced significant reserves increase at its McKay project, effective March 15, 2010, following the winter drilling program.

Impact Positive.

Gross probable recoverable bitumen reserves have increased by about 150% to 168.1 mmbbls.

Additionally, the company’s best estimates (P50) contingent resources have increased from 85 mmbbls to 116.7 mmbbls.

This increase is notable for two reasons:
1) it sets the stage for additional SAGD projects to follow the McKay project; and 2) it points to potential for a larger component of debt to finance the McKay project.

Action We are placing our rating and target price Under Review pending additional disclosure anticipated at today’s conference call, which will take place at 9 am Mountain Time.

Conference call details Southern Pacific has scheduled a conference call to discuss the increase in its reserves and recent corporate developments. The call is set for 9 a.m. Mountain Time (11 a.m. Eastern Time) on Friday, March 26, 2010. To participate, please call 416-340-8530 or 877-240- 9772. A taped broadcast will be available until April 2, 2010. To access the replay, dial 416-695-5800 or 1-800-408-3053. The pass code is 6106870.

Talade precis med företaget och allt ser onekligen mkt bra ut. Man borrade ju även som bekant i Hangingstone förutom i McKay och man arbetar med att analysera resultaten därifrån. Dessa kommer att redovisas senare i vår men det kan definivt bli så att man även här skulle kunna få bekräftat ytterligare ett 12.000 bpd projekt.