CALGARY, Alberta, Sept. 16, 2013 /PRNewswire/ -- Sunshine Oilsands Ltd. ("Sunshine" or the "Corporation") (HKEX: 2012, TSX: SUO) is pleased to announce that subsequent to the September 6, 2013 Alberta Government Order in Council approval, it has received final Alberta Energy Regulator approval and received Commercial Scheme Number 12010 for the Thickwood Project. The Thickwood Project is Sunshine's second Steam Assisted Gravity Drainage (SAGD) 10,000 barrel per day commercial development regulatory approval. The Thickwood Project increases Sunshine's approved SAGD commercial production capacity to 20,000 barrels per day and according to the reserves and resource evaluation completed by independent evaluators, effective December 31, 2012, the Thickwood Project area holds approximately 163 million barrels of Proved plus Probable reserves, and about 341 million barrels of Best Estimate Contingent resource. The Company believes that the Thickwood Project could potentially support production of approximately 70,000 barrels per day. The Company will continue to inform the market of the expected timetable regarding the development schedule of the Thickwood Project.
