SPP succumbs to financial pressure

LAST minute wheeling and dealing was not enough to save the embattled Southern Pacific Petroleum with Sandco Koala LLC, thought to be a unit of the Jeff Sandefer investment operation based in Texas, appointing Ernst & Young as receivers yesterday afternoon.

SPP succumbs to financial pressure SPP succumbs to financial pressure SPP succumbs to financial pressure SPP succumbs to financial pressure SPP succumbs to financial pressure

SPP said that although not conceding that Sandco Koala LLC has the right to make an appointment, at this point SPP is cooperating with the receivers.

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