Sunshine Oilsands Profile
Our ultimate goal is to deliver maximum shareholder value. We will use our oil sands knowledge and business experience to realize the potential of our significant oil sands land positions.
Assets
- One of the largest land holdings in the Athabasca Region with more than 1,000,000 acres
- Portfolio consists of multiple asset groupings
- Cretaceous Sandstone - high value, medium term SAGD assets
- Carbonates - substantial long term value asset
- Conventional Heavy Oil - short line of sight to cash flow
- Thermal recovery only, no mining of resources
- No tailing ponds or mining pits
- Long term water source is brackish, sourced from deep geological formation
People
- Proven track record of execution with other successful companies (Rally Energy, Deer Creek, Connacher, Flint)
- Divisional leaders in place
- Proven operations experience in numerous hydrocarbon plays including conventional heavy oil, cretaceous sandstone and carbonate reservoirs
Capital Structure
- Broad shareholder base
- No controlling shareholder
Resources
- Tremendous upside potential
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 evaluations completed by independent evaluators, with an effective date of November 30, 2011, resulted in, resulted in 45.4 billion bbls of best estimate PIIP (Petroleum Initially In Place) (54.3 billion bbls of high estimate PIIP); 3.1 billion bbls best estimate contingent resources (Pre-tax PV10% of $4.84 billion); 419 million bbls of 2P reserves (Pre-tax PV10% of $829 million); and 561 million bbls of 3P reserves (Pre-tax PV10% of $1.41 billion).
- Long term production growth
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.