POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the undersigned does hereby 
constitute and appoint Byron L. Boston and John Bert Watson as the undersigned's true 
and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, 
for the undersigned and in the undersigned's name, place and stead, in any and all 
capacities, to execute and acknowledge Forms 3, 4 and 5 (including amendments thereto) 
with respect to securities of Sunset Financial Resources, Inc. (the "Company"), and to 
deliver and file the same with all exhibits thereto, and all other documents in connection 
therewith, to and with the Securities and Exchange Commission, the national securities 
exchanges and the Company pursuant to Section 16(a) of the Securities Exchange Act of 
1934, as amended, and the rules and regulations promulgated thereunder, granting unto 
said attorney-in-fact and agent full power and authority to do and perform each and every 
act and thing requisite and necessary to be done, as fully to all intents and purposes as the 
undersigned might or could do in person, hereby ratifying and confirming all that said 
attorney-in-fact and agent or his substitute lawfully do or cause to be done by virtue 
hereof.  The undersigned agrees that the attorney-in-fact herein may rely entirely on 
information furnished orally or in writing by the undersigned to such attorney-in-fact.
The validity of this Power of Attorney shall not be affected in any manner by 
reason of the execution, at any time, of other powers of attorney by the undersigned in 
favor of persons other than that named herein; provided that all previous Powers of 
Attorney relating to the filing of Forms 3, 4 and 5 (including amendments thereto) with 
respect to securities of the Company are revoked as of the date hereof and superceded by 
this Power of Attorney.
The undersigned agrees and represents to those dealing with the attorney-in-fact 
herein that this Power of Attorney is for indefinite duration and may be voluntarily 
revoked only by written notice delivered to such attorney-in-fact.
IN WITNESS WHEREOF, I have hereunto set my hand as of this 1st day of 
April, 2005.
                                                /s/ George O. Deehan
                                                George O. Deehan