BRIEF: Sunshine Oilsands suspends work at its Canadian project

2012.HK

Sunshine Oilsands Ltd. (2012.HK) announced on Sunday that it temporarily suspended work at its Canadian oilsands project after being notified by the Alberta Energy Regulator that it needs to conduct maintenance and rectification work during the winter. The company did not comment on the length of the suspension, but said it would not “pose significant adverse impact.”

Sunshine Oilsands is developing oil sands resources in the Athabasca region, which has the richest such reserves in the Canadian province of Alberta. The company owns more than 1 million acres of oil sands and petroleum and natural gas leasehold areas. Its un-risked best estimate contingent resources totaled approximately 1.53 billion barrels at the end of last year.

By Lau Chi Hang

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