May 15, 2012
Sunshine Oilsands Ltd. is pleased to announce that its unaudited financial statements, and first quarter 2012 financial results report. Click here to view.
May 3, 2012
Alberta Securities Commission has issued an order deeming Sunshine to be a "reporting issuer" under Alberta securities law. (English) (Chinese)
May 2, 2012
Sunshine Announces Date of the Board Meeting (English) (Chinese)
Sunshine Oilsands Ltd. is a Calgary based "public" company, listed on the Hong Kong Stock Exchange since March 1, 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 1,150,000 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 the completion of the 2011 drilling and seismic program, and the submission of the Thickwood and Legend Lake Commercial SAGD applications, the reserves and resource evaluation completed by independent evaluators, with an effective date of November 30, 2011, resulted in:
Sunshine is developing a project portfolio consisting of three core asset types:
Management currently estimates production potential of 200,000 bbl/d from its cretaceous sandstone areas and significant additional upside from the carbonates. The Company is currently producing heavy oil from its Muskwa heavy oil property, and Management currently estimates primary production potential of 1,600-1,800 bbl/d from the Muskwa heavy oil property by the end of 2012.