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Sunshine Oilsands ( (HK:2012) ) has issued an update.
Sunshine Oilsands Ltd. has entered into an Amended Supplementary Agreement with Renergy Petroleum (Canada) Co., Ltd., extending the Outside Date of their joint operating agreements for the Muskwa and Godin areas to October 20, 2027. This agreement allows Renergy to continue managing all expenditures in these areas, with a stipulation that Renergy must achieve a production level of 500 barrels per day for any consecutive 20 days before the new deadline, or risk forfeiting its working interest. This extension is strategic for Sunshine, given its limited cash flow and existing financial covenants, as it enables continued development without additional capital expenditure from Sunshine.
The most recent analyst rating on (HK:2012) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
More about Sunshine Oilsands
Sunshine Oilsands Ltd. is a company incorporated under the Business Corporations Act of the Province of Alberta, Canada, and is listed on the Hong Kong Stock Exchange. The company is involved in the oil sands industry, focusing on the development of oil sands leases in areas such as Muskwa and Godin.
YTD Price Performance: -24.14%
Average Trading Volume: 3,109,823
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$251.4M
See more data about 2012 stock on TipRanks’ Stock Analysis page.