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Laricina Energy Ltd. (“Laricina” or the “Company”) today announced that Mr. Dean Setoguchi has joined the Company’s management team as Senior Vice President and Chief Financial Officer. Mr. Setoguchi is a Chartered Accountant and has more than 20 years experience in capital markets, investor relations, financing, treasury and strategic planning.
Prior to joining Laricina, he served as Vice President and Chief Financial Officer at Keyera Corporation, a publicly traded midstream company. He has also served as Chief Financial Officer for a number of small to mid-sized energy companies.
“Dean is an entrepreneurial and self-motivated individual. His experience in the finance sector and capital markets adds value to our management team,” said Glen Schmidt, Laricina’s President and CEO. “As we continue to advance our two core projects at Saleski and Germain, developing and expanding our management team becomes essential in the evolution of the Company. We look forward to Dean’s contributions as Laricina continues to grow.”
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 387 million barrels of probable reserves and 4.6 billion barrels of contingent plus prospective resources (best estimate) as determined by Laricina’s independent reservoir engineers. 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 Energy Resources Conservation Board and Alberta Environment and Water. 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. Forwardlooking 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