Announcement of Results for the Second Quarter ended June 30, 2015 and an Update on West Ells Progress
CALGARY/HONG KONG – Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine”) (HKEX: 2012; TSX: SUO) today announced its financial results for the second quarter ended June 30, 2015. The Corporation’s consolidated financial statements, notes to the consolidated financial statements and management’s discussion and analysis have been filed on SEDAR (www.sedar.com) and with The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) (www.hkexnews.hk) and are available on the Corporation’s website (www.sunshineoilsands.com). All figures are in Canadian dollars unless otherwise stated.
MESSAGE TO SHAREHOLDERS
In the second quarter of 2015, Sunshine continued to focus on financing initiatives and on West Ells construction and achieved progress in the following areas:
- Obtained equity commitments for HK$393.6 million (approximately CDN$ 63.3 million as at May 31, 2015)
- Achieved substantial completion of West Ells construction activities;
- Installed all major modules at West Ells site;
- Finished all central processing facility and well pad inspections; and
- Continued with pre-commissioning assessments and start-up preparation activities.
Sunshine currently expects first steam in September of 2015 and first oil production in December of 2015.
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