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Laricina Energy Ltd. (Laricina) is pleased to congratulate Dave Theriault Senior VP In Situ and Exploration on his achievement of being awarded Life Membership for Achievement by the Canadian Heavy Oil Association (CHOA) at the 2011 Business Conference, held in Calgary on November 10, 2011.
Mr. Theriault has been working in the heavy oil and oil sands industry for 31 years and has been a member of CHOA since its inception in 1986. During his involvement with CHOA he has served as a member and Chair of the Drilling and Production Committee, Board of Directors of the Technical Committee, and President for two terms in 1995, 1996.
Mr. Theriault is one of three industry leaders, including Dr. Roger M. Butler and Edward Gilbert, to be a recipient of the CHOA Life Membership of Achievement. “I am proud to have been a part of growing CHOA to what it is today and ensuring its survival during the tough down turn of 1995 and 1996,” said Theriault when asked how it felt to be awarded this achievement. “I am also proud to have been named along with the great Roger Butler who is the ‘grandfather’ and inventor of steam-assisted gravity drainage (SAGD)”.
The CHOA award recognizes Mr. Theriault’s achievements and contributions to the heavy oil industry and to CHOA.
To learn more about the Canadian Heavy Oil Association, visit www.choa.ab.ca.
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. Laricina has identified five core areas with commercial production potential in excess of 600,000 gross barrels of bitumen per day from a large concentrated resource base with approximately 4.6 billion barrels net recoverable bitumen as determined by Laricina’s independent reservoir engineers. These assets include oil sands resources in the familiar McMurray Formation, the less developed and less mature Grand Rapids and the 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 Energy Resources Conservation Board and Alberta Environment. Forwardlooking 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 2 required under applicable securities legislation. The forward-looking statements are expressly qualified by these cautionary statements.