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Southern Pacific Resource Corp. (the “Company”) is a junior oil and gas exploration company that has an 80% working interest in 219 sections of oil sands leases in five core areas.

The productive zone is the McMurray Formation, comprised primarily of fluvial and estuarine channel sandstones which form the main reservoir deposits.

The Company has completed its extensive 2007/08 winter program which included 2D and 3D seismic programs, as well as 70 full diameter core hole tests on various portions of its 219 square miles of oilsands leases.  The Company is now evaluating the results.

Out of this year’s program, four potential project areas have been identified.  Two of the projects are located on the McKay block, and the other two are located in the Leismer and Long Lake blocks.  As the results of the program are analyzed, the project areas will be prioritized and an execution plan for one or more SAGD project applications will be implemented for this year. 

Significant exploration upside remains on Southern Pacific’s acreage and plans for next winter’s exploration program are already being prepared.

Additional updates on Southern Pacific’s development and exploration plans will be provided as the information becomes available.