Southern Pacific Resource Corp. (the "Company") is a junior oil and gas exploration company with an average 84% working interest in 269 sections of Athabasca oil sands leases in five core areas. The productive zone is the McMurray Formation, consisting primarily of fluvial and estuarine channel sandstones which form the main bitumen deposits.

On May 29, 2009, Southern Pacific filed an application for a 12,000 barrels per day (bbl/d) commercial SAGD project on its McKay block. The STP-McKay Project is expected to produce between 10,000 and 12,000 bbl/d of bitumen for at least 30 years once approved and constructed. The approval process takes 12 -15 months, during which time Southern Pacific plans to secure project financing and begin detailed engineering and long lead equipment procurement.

Southern Pacific is well positioned for the future with five other prospect areas: Hangingstone West, Leismer South, Kirby, Long Lake and MacKenzie. The Company's strategy is to bring one project, namely STP-McKay, on production and generating cash flow as quickly and efficiently as possible. The cash flow from the first project will then be used to fund growth into its other oil sands leases.