02012 SUNSHINE OIL

Sunshine Oilsands Ltd is engaged in the characterization and development of oil used to produce asphalt in the Athabasca oil sands area of Alberta, Canada. The company has oil sands and oil and gas leases in Athabasca, Alberta. The company's projects include West Ells project, Thickwood project, Legend Lake project, Harper Pilot project and Muskwa project. The company has about 291 heavy oil production blocs in the Portage area, of which 152 include bituminous carbonate resources. The company has a position in bituminous Cretaceous and carbonate strata in Goffer, Saleski, South Thickwood, East Long Lake, Crow Lake and Godin areas. The West Ells area covers an area of about 9856 hectares and is located in the Athabasca oil sands area. The Thickwood area consists of an oil sands lease zone covering an area of about 5888 hectares.