September 1, 2010
Sunshine has increased it land holdings with a Crown Oil Sands Rights purchase of 9,535 acres. Sunshine now owns and controls 100% of 1,021,695 acres of oil
sands leases.
August 23, 2010
Click here to the Sunshine Corporate Overview Newsletter.
August 23, 2010
Click here to view the Sunshine AGM Shareholder Notice and Circular information.
Sunshine Oilsands Ltd. is a Calgary based company 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 1,021,695 acres of oil sands leases, representing over 4,000 sq. km. of land.
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, Connacher Oil & Gas, Flint Energy Services Ltd and Heritage Oil Plc.
After the completion of the 2010 drilling and seismic program, the reserves and resource evaluation completed by GLJ, effective July 1, 2010, resulted in:
Sunshine is developing a project portfolio consisting of three core asset types:
Management currently estimates primary production potential of 3,000 bbl/d from its Muskwa heavy oil property, production potential of 200,000 bbl/d from its cretaceous sandstone areas and additional upside in excess of 600,000 bbl/d from the carbonates with potential for production sustaining at these levels for decades without decline.
Sunshine anticipates achieving strong netbacks at low break-even oil prices due to the uniformity of its high quality deltaic cretaceous asset base, its use of commercially proven SAGD production methods, and its modular, staged growth plan which allows for incorporation of technological innovations as they arise.