INSIDE INFORMATION BUSINESS UPDATE
Hong Kong (April 11, 2022) and Calgary, Alberta (April 10, 2022) - The Board of Directors (the “Board”) of Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine”) (HKEX: 2012) is pleased to announce the following:
The Board is pleased to announce that as at the date of this announcement, the Corporation's West Ells project has fully resumed production. The Corporation expects that, given the current international oil price, the resumption of production will bring in stable cash flow and has a positive impact on the Corporation’s future profitability.
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation, listed on the Hong Kong Stock Exchange since May 1, 2012. The Corporation is focused on the development of its significant holdings of oil sands and heavy oil leases in the Athabasca oil sands region. The Corporation owns interests in oil sands and petroleum and natural gas leases in the Athabasca region of Alberta. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells Phase 1 has an initial production target of 5,000 barrels per day.
For further enquiries, please contact:
Kwok Ping Sun
Executive Chairman
Tel: + 852-3188-9298
Email: [email protected]
Website: www.sunshineoilsands.com