Sunshine taps Chinese cash to fund oil-sands push
Will seek listing in Hong Kong; targets 0.8m b/d output
PRIVATELY owned Sunshine Oilsands is breaking trends in every direction as it targets 20,000 barrels a day (b/d) of bitumen production by 2015 and opens up links to Chinese capital. Founded only five years ago, the company has accumulated 1.15m acres of 100%-owned oil-sands leases in Alberta’s Athabasca region, the heart of oil-sands development, and boldly talks about production of 0.8m b/d from an estimated in-place potential of about 50bn barrels. What sets Sunshine apart from its junior peers is its determination to develop those leases through the drill bit rather than selling them off to majors. And its Chinese ties are also an important part of that strategy, including plans to go pub
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