Southern Pacific Resource Corp. has received the results of the updated resource report from Degolyer MacNaughton Canada Ltd. (“D&M”) in regard to their South Leismer area. The Leismer South area consists of 25 contiguous sections of 80% owned lands in Townships 75–76-10W4. The Corporation’s bitumen resource base increase reflects the completion of the seismic and successful drilling at South Leismer, which was completed in the spring of 2007.

These estimates do not include any of the potential resources from the recently acquired 76 sections of land. This acquisition was announced on July 12, 2007. The total potential resource base of the Corporation, which will include these results as well as the report on the new lands, will be available in the next 30 days. The aggressive land acquisition and exploration program of the Corporation will continue through the summer and into the next winter’s exploration program.

Reserve Report

The resource reserve report was prepared by D&M, effective April 30, 2007, estimating the extent and value of the probable, possible and contingent reserves on the 25 sections of land. The report was prepared using assumptions and methodology guidelines outlined in the Canadian Oil and Gas Evaluation Handbook and in accordance with National Instrument 51-101.

Southern Pacific’s probable and possible recoverable reserves on the lands at Leismer South were estimated to be 198.0 million barrels, 115.8 million barrels of probable recoverable reserves, with possible recoverable reserves estimated to be 82.2 million barrels. This is an increase of 42.3 million barrel in the probable and possible categories; D & M were also able to assign contingent and prospective resources to the Leismer lands at a best estimate basis of an additional 119.8 million barrels. This gives the Corporation a total of probable, possible and best estimate contingent reserves of 312.3 million barrels. This is 101% increase on the initial report which was published in August 2006.