Southern Pacific Resources (STP CN or STPJF) is a dirt cheap (0.45X NAV) early stage oil sands company based in Alberta, Canada with 208 mmbbl of 3P reserves and 667 mmbbl of 2P+2C resources, a debt-free, cash-rich balance sheet, and a very near-term high probability catalyst: regulatory approval and financing for Phase I of its crown jewel McKay project, expected within a few weeks.
http://seekingalpha.com/instablog/418684-utualpha/99745-southern-pacific-resource-corp-the-next-suncor
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