Print this page   Print this page

Information Releases

April 3, 2014

Laricina Announces Executive Departure


Laricina Energy Ltd. (“Laricina” or the “Company”) announces that Dean Setoguchi, Senior Vice President and Chief Financial Officer resigned from the Company effective today to pursue other professional opportunities.

”We have appreciated Dean’s efforts supporting the Company through our recently announced debt financing and wish him well in his future endeavours,” said Glen Schmidt, President and Chief Executive Officer of Laricina.

 

About Laricina Energy Ltd

Laricina is a non-public, Calgary based, responsible energy company that will contribute supply to the growing demand for crude oil through in situ oil sands development.

Laricina’s goal is to create value by developing Canada’s oil sands using innovative in situ technologies. The Company has a diverse portfolio of oil sands assets at varied stages of development, and experienced people with the requisite technical expertise. Our current focus is on the Company’s two core producing projects – Saleski and Germain. Laricina’s asset base, holds 0.5 billion barrels of probable reserves, 3.9 billion barrels of contingent resources (best estimate) and 0.3 billion barrels of prospective resources (best estimate) as determined by Laricina’s independent reservoir engineers as at December 31, 2013. These assets include oil sands resources in the familiar McMurray Formation, and the developing Grand Rapids, and Grosmont and Winterburn carbonate plays, all of which offer significant production potential.

This information release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law including but not limited to final regulatory approval from the Alberta Energy Regulator and Alberta Environment. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “estimate”, “intend”, “believe”, “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on Laricina’s experience and current beliefs as well as assumptions made by, and information currently available to, Laricina, and are subject to a variety of risks and uncertainties including, but not limited to, those associated with resource definition, unanticipated costs and expenses, regulatory approvals, fluctuating oil and gas prices, and the ability to access sufficient capital to finance future acquisitions and development. Although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions and factors discussed in this information release are not exhaustive and readers are not to place undue reliance on forward-looking statements. Laricina disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, subsequent to the date of this message, except as required under applicable securities legislation. The forward-looking statements are expressly qualified by these cautionary statements.



For further information please contact:

Heidi Christensen Brown
Senior Analyst, Investor Relations
403.817.0555

Laricina Energy Ltd. 
East Tower, 5th Ave Place 
800, 425 1st Street SW
Calgary, AB. T2P 3L8

Where Energy
Meets Innovation

Laricina is advancing in situ technology and innovation, through its forward thinking approach and practices. Our ideas begin with people whose knowledge is based on years of in situ experience, redefining and shaping several of the processes we are implementing today.

Visit Saleski Virtual Tour

Saleski Virtual Tour - Click on this image to take a virtual tour of Laricina’s Saleski project.

Multimedia

Watch our latest technological developments and innovations. View our video gallery.
SAGD Video Gallery

Photo Gallery

See what's going on at Laricina's in situ operations and who's making it happen. View our Photo Gallery.
Slide21.jpg