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Laricina Energy Ltd. (Laricina) was recognized by the Canadian Association of Petroleum Producers (CAPP) at the 2014 Responsible Canadian Energy (RCE) Awards banquet in Calgary on May 21st receiving the Chair’s Award for its stewardship of a collaborative effort to deliver a Heavy Equipment Training Program and its sustainable results for members of the Bigstone Cree Nation (BCN) in northern Alberta.
The Heavy Equipment Training Program, based in Wabasca, Alberta near Laricina’s Germain and Saleski developments, was designed to enhance the BCN membership by providing longterm benefits through the development of skilled heavy equipment operators, project management and land-use planning expertise, and support for economic development while reinforcing a sustainable community.
“The Heavy Equipment Training Program has contributed to growth of skilled labour in the industry and in the community in which we work, proving smaller companies collaborate to establish creative initiatives that provide education and training opportunities for local area residents and economic benefits for those communities for decades to come,” said Derek Keller, Vice President, Production at Laricina. “We were fortunate to work with a motivated and talented group of individuals, all who envisioned a common goal: capacity building by training local people while building a stronger, self-sustainable community.”
The Heavy Equipment Training Program was formed with the BCN, Alberta Works Human Services, Laricina and industry partners, Cenovus Energy Inc. and Osum Oil Sands Corp., to deliver a three-month training program for 12 local residents in machine operations of rock trucks, excavators, dozers, skid steers and graders; equipment essential to industry operations. The program involved training in landscaping, ditching, grading, and finishing to engineered standards of the newly constructed 11-home housing subdivision within the BCN reserve. Upgrades to the community included two kilometers of public roads and a new emergency access road. The quality of living was tremendously enhanced for 33 BCN families.
The RCE Awards are designed to recognize best practices in terms of safety, environment and social responsibility and to award specific projects that have measurable results, all within the combination of innovation, creativity and perseverance. The Chair’s Award recognizes and celebrates smaller CAPP member companies and their projects that meet those requirements. The Heavy Equipment Training Program demonstrates a creative and innovative technique to building long-term benefit partnerships with First Nations.
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 visit www.laricinaenergy.com or contact:
Heidi Christensen Brown
Senior Analyst, Investor Relations
Laricina Energy Ltd.
East Tower, 5th Ave Place
800, 425 1st Street SW
Calgary, AB. T2P 3L8