Dec. 10, 2013
Sunshine Oilsands Ltd. announces first closing of private placement financing of hk $336 million of common shares and warrants under the general mandate and senior management changes
Dec. 3, 2013
Sunshine Oilsands Ltd. announces private placement financing of HK $336 million of common shares and warrants under the general mandate
Dec. 3, 2013
Nov. 20, 2013
Sunshine Oilsands Ltd. is a Calgary based "public" company, listed on the HKEX since March 1, 2012 and the TSX since November 16, 2012 . Sunshine is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region. The company owns and controls 100% of 467,969 hectares of oil sands leases (including our Oil Sands Leases and our PNG Licenses) (approximately 1,200,000 acres of oil sands leases), equivalent to approximately 7% of the total Oil Sands Leases granted in the Athabasca region.
Sunshine's growth is being led by an experienced team with strong corporate governance and capital cost discipline. This team has a proven record of creating significant value in managing successful large projects at companies such as Rally Energy, Deer Creek Energy, Total E&P Canada Limited, Flint Energy Services Ltd and Amoco Canada Petroleum Co. Ltd.
After completion of the 2012 second-half drilling and seismic programs related to construction at the West Ells Commercial SAGD project and completion and continued progress at the Thickwood and Legend Commercial SAGD projects, the reserves and resource evaluation completed by independent evaluators, effective Dec. 31, 2012, resulted in:
Sunshine is developing a project portfolio consisting of three core asset types:
Management currently estimates production capacity potential of 1,000,000 bbl/d from its cretaceous sandstone areas and carbonate formations. The Company is currently producing conventional heavy oil from its Muskwa property and Management estimates that production will increase with further development of the Muskwa property.