HONG KONG, CHINA and CALGARY, ALBERTA–(Marketwired – Jan. 2, 2017) – The Board of Directors of Sunshine Oilsands Ltd. (“the Corporation” or “Sunshine“) (HKSE:2012) hereby announces the following:
DAILY PRODUCTION VOLUME AT THE WEST ELLS PHASE 1 PROJECT REACHED 2,200 BARRELS
The Corporation is pleased to announce that the West Ells Phase 1 project (“the Project“) located in the Athabasca region of Alberta has reached a production volume of 2,200 barrels per day on January 3, 2017 (Hong Kong Time)/ January 2, 2016 (Calgary Time). This marked a key milestone for the Coporation. At the same time, the production volume of the Project is continuously climbing. This is very favorable to the Project in moving towards its full production capacity in the near term.
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation listed on the Hong Kong Stock Exchange since March 1, 2012. The Corporation is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region of Alberta, Canada. The Corporation owns interests in approximately one million acres of oil sands and petroleum and natural gas leases in the Athabasca region. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells has an initial production target rate of 5,000 barrels per day.