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SUNSHINE OIL: MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THREE MONTHS ENDED MARCH 31, 2025
SUNSHINE OIL (02012.HK) reported a net loss of approximately 9.7 million Canadian dollars in the first quarter.
On May 14, Ge Longhui announced that SUNSHINE OIL (02012.HK) reported a decrease in oil sales (net of royalties) to 0 Canadian dollars for the three months ending March 31, 2025, down from 11.2 million Canadian dollars for the three months ending March 31, 2024. The decline in net oil sales was primarily due to revenue loss from maintenance on the West Ells facility in the first quarter of 2025. The net revenue for the three months ending March 31, 2025, excluding one-time foreign exchange income (loss), was a loss of 1.7 million Canadian dollars, compared to the same period in 2024.
SUNSHINE OIL: ANNOUNCEMENT OF RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025
SUNSHINE OIL (02012) is preparing to appeal the directive and delay the submission of the waiver plan.
SUNSHINE OIL (02012) announced that the company received a directive letter from the Alberta Energy Regulator in Canada, due to the company...
SUNSHINE OIL (02012.HK): Received legal documents from the Orphan Well Association under the jurisdiction of the Energy Bureau, requesting to take over the company's project.
On May 14, Glonghui reported that SUNSHINE OIL (02012.HK) announced it received a directive letter from the Energy Regulator of Alberta, Canada, due to the company's failure to meet the maintenance requirements set by the Canadian Energy Regulator. The authority has requested the company to submit a project abandonment plan. Additionally, based on this directive, the company also received legal documents from the Orphan Well Association under the jurisdiction of the Energy Regulator, requesting to take over the company's project. After consulting legal advice, the company is currently preparing to appeal this directive and is postponing the submission of the abandonment plan. Currently, there has not been a significant adverse impact on the company's Business.
Sunshine Oilsands' 'Internal Processes' for Oil Pump Cooling Technology Operator Purchase Nearing Completion