Laricina Replaces Five Bridges on the Chip Lake Road
Demonstrating its commitment to upgrading and maintaining the Alberta-Pacific Forest Industries Inc. (Al-Pac) road for industry and local traffic use in 2012, Laricina replaced the first five singlelane bridges on the road, at kilometres 1, 13, 37, 54 and 60.
The new, wider, two-lane secondary bridges will benefit the community and industry by improving traffic safety and supporting the heavier loads required for the projects being developed in the area. The bridges will enable traffic in both directions for small sized vehicles and pick-up trucks. Wider and larger size trucks will need to wait for the bridge to clear to be able to proceed safely.
In June 2012 Laricina celebrated its first bridge opening at km 1, together with Wabasca community members, members of the Bigstone Cree Nation, representatives from the MD of Opportunity #17, and Al-Pac personnel and Laricina employees.
Albert Yellowknee, a BCN Elder, led the group in a smudge and prayer flag ceremony to commemorate the occasion and bless the bridges in the Cree tradition. The participation of Albert and the BCN trappers and Elders was welcomed by all involved. “Twenty twelve was a busy year for Laricina in terms of road maintenance and bridge upgrades, and we would like to thank the Wabasca community and Al-Pac Industries for their involvement and support with this initiative,” said Dan Hommy, Laricina Construction Superintendent.
In 2013 Laricina will continue with overall road maintenance and possible gravel additions.
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. 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:
Chip Lake Road
Laricina Energy Ltd.
East Tower, 5th Ave Place
800, 425 1st Street SW
Calgary, AB. T2P 3L8