Southern Pacific Resource Corp. is a Calgary-based company engaged in the development and operation of heavy oil and bitumen producing properties, with a focus on thermal extraction of in-situ oil sands projects in the Western Canadian sedimentary basin. The Company has two principal assets: STP-McKay and STP-Senlac. The Company also holds additional oil sands leases in the McMurray and Peace River sub-basins in northeastern Alberta. The Company’s STP-McKay block is located in the Athabasca oil sands in north eastern Alberta and consists of crown oil sands leases that cover approximately 59 sections, or 37,760 net acres. STP-Senlac is located approximately 37 kilometers west of Unity, Saskatchewan and consists of three sections of 100% owned lands and approximately two gross sections of other lands. The Company’s assets in this area include a 100% working interest in 10 producing SAGD heavy oil well pairs. Heavy oil production from this property is from the Cummings-Dina formation.