Southern Pacific Resource Corp.
TSX VENTURE : STP

Southern Pacific Resource Corp.

August 28, 2007 09:21 ET

Southern Pacific Announces Operations Update

CALGARY, ALBERTA--(Marketwire - Aug. 28, 2007) - Southern Pacific Resource Corp. (TSX VENTURE:STP) ("Southern Pacific" or the "Corporation") is pleased to announce that it has begun the first stage of its 2007/2008 exploration program. The Corporation had recently announced a significant increase in acreage; it now holds an 80% interest in 217 sections of land, this includes the previously announced acquisition on August 13, 2007, which is awaiting TSX-V final approval. These sections are in 5 distinct core areas and the exploration program for each of the areas has started. The program includes a significant summer and fall seismic program to be followed by a core drilling season this winter. Shooting the seismic in August and September will allow Southern Pacific to process and interpret the data this fall and use it to assist in identifying prospective drilling locations for its winter program. Southern Pacific will license over 300 well locations on its lands and expects to drill 115 core holes this winter based upon geological and seismic data. This approach was utilized in the second stage of drilling last winter and allowed the Corporation to complete a very successful drilling season.

Leismer - (36 Sections)

The Corporation completed a successful drilling season on the Leismer lands last winter and is following this year with a program that includes approx. 77 kms of 2D seismic this summer and a 3D seismic program in the winter. The 3D program targets a 6 km2 area determined to have potential for SAGD. The Corporation has begun the environmental review needed to make a formal application for a SAGD project. The Corporation also anticipates drilling 25 additional core holes at Leismer this winter based upon the summer seismic and geologic data.

Long Lake - (40 Sections)

The Corporation has begun its Long Lake summer seismic program of approx. 88 kms of 2D seismic. Based upon the results of the seismic interpretation the Corporation anticipates drilling 25 core holes this winter.

MacKay River - (62 Sections)

The Corporation has begun its MacKay summer seismic program of approx. 212 kms of 2D seismic. Based upon the results of the seismic interpretation the Corporation anticipates drilling 30 core holes this winter.

Hangingstone West - (64 Sections)

The Corporation has begun its Hangingstone summer seismic program of approx. 175 kms of 2D seismic. Based upon the results of the seismic interpretation the Corporation anticipates drilling 25 core holes this winter.

Kirby - (15 Sections)

The Corporation has begun its Kirby summer seismic program of approx. 88 kms of 2D seismic. Based upon the results of the seismic interpretation the Corporation anticipates drilling 10 core holes this winter.

Southern Pacific has posted an updated corporate presentation on its website, www.shpacific.com.

Safe Harbour

Statements in this press release may contain forward-looking information including expectations of future operations, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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