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SPP shares jump on Mobil offtake deal

SOUTHERN Pacific Petroleum shares have gone for a run today, gaining as much as 26.5% after the oil shale pioneer struck a naphtha offtake agreement with a unit of Exxon Mobil.

Greg Tubby

The deal covers the entire stage one production from SPP's Stuart oil shale project through 2005. Sales could total more than 2 million barrels over the life of the contract, SPP said. "This naphtha...

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