HONG KONG, CHINA and CALGARY, ALBERTA–(Marketwired – Sept. 1, 2017) – The Board of Directors (the “Board“) of Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine“) (HKEX:2012) wishes to announce the following executive management changes due to job reallocation and to better align its management organization with the Corporation’s future growth and development objectives.
Change of Chief Executive Officer
The Board is pleased to announce that with effect from September 1, 2017, Mr. Qiping Men (“Mr. Men“), currently an Executive Director, President and Chief Operations Officer, has been appointed as the Interim Chief Executive Officer of the Corporation.
Mr. Men, age 52, became an Executive Director on June 30, 2016. He was appointed as President and Chief Operations Officer of the Corporation on October 20, 2016. He was appointed as Chief Financial Officer of the Corporation from December 18, 2015 to October 19, 2016. Mr. Men has been serving in the capacity of the Interim Chief Financial Officer of the Corporation since July 21, 2014. Prior to joining the Corporation, most recently, Mr. Men was Vice President of Goldenkey Oil Inc., a private oil and gas company based in Calgary, Alberta. Prior thereto, Mr. Men was the Chief Financial Officer and Vice President of each of Anterra Energy Inc. and Sahara Energy Ltd. which are both publicly traded.
Mr. Men has a Bachelor’s Degree in Mechanical Engineering, is a Professional Engineer and an APEGA member. He has an MBA from Dalian University of Technology, as well as a Canadian CPA designation. He is also a member of Chartered Professional Accountants of Alberta with a public accountant designation.
Upon Mr. Men’s appointment as the Interim Chief Executive Officer, his office as President and Chief Operations Officer of the Corporation ceased at the same time.
Mr. Hong Luo (“Mr. Luo“), currently an Executive Director and Chief Executive Officer of the Corporation, will no longer serve as the Chief Executive Officer, effective from September 1, 2017, but remained as an Executive Director.
Change of Chief Technology Officer
On September 1, 2017, Dr. Qi Jiang resigned as Chief Technology Officer.
The Board is pleased to further announce that with effect from September 1, 2017, Mr. Vincent Chung Kiu Lau (“Mr. Lau“) is appointed as the Interim Chief Technology Officer of Sunshine.
Mr. Lau joined Sunshine in 2014 and was appointed as Production and Development Manager in 2015. Mr. Lau has over 20 years’ experience in the oil industry. Before joining Sunshine, Mr. Lau worked in Pennwest Exploration Ltd as senior exploitation engineer for 2 years and Husky Energy Inc. for 14 years in the production engineering, exploitation engineering and reservoir engineering field.
Mr. Lau has a Bachelor of Science Degree in Geological Engineering.
The Board wishes to express its sincere gratitude to Mr. Hong Luo and Dr. Qi Jiang for their contributions to the Company during their tenure of office.
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. 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 of 5,000 barrels per day.