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Poplar Creek and Conn Creek are located within the central area of the Athabasca oil sands region, near Fort McMurray. Poplar Creek, where Laricina holds a 100 percent working interest, covers an area of 1,824 gross hectares. Delineation to date averages approximately four wells per section, providing good indication of the resource and how to set-up the initial development area. This property lies near Fort McMurray and is close to existing road, electrical power and pipeline infrastructure.
Conn Creek, where Laricina holds a 100 percent working interest, covers an area of 8,192 gross hectares. Laricina’s delineation and seismic evaluation programs at Conn Creek, indicate positive results, identifying a high-quality bitumen resource.
The main reservoir target for both Poplar Creek and Conn Creek projects is the Lower McMurray Formation, which generally consists of clean porous sands. Recoverable resources and production estimates for Poplar Creek and Conn Creek are based on SAGD and SC-SAGD technology.
Burnt Lakes is a Grosmont carbonate play and lies approximately 160 kilometres northwest of Wabasca, Alberta. In December 2011 Laricina acquired an additional 5,120 net hectares to add to the property portfolio. The initial lands at Burnt Lakes were acquired in late 2007, with the project lands now covering a total of 16,619 net hectares at 100 percent working interest. The Burnt Lakes project builds on the geological and technical knowledge of the Grosmont carbonate complex gained at our Saleski play. Located within the Grosmont trend, Burnt Lakes has a similarly attractive Grosmont C and D units with reservoir properties including: karsting at the subcrop, downdip of the erosional edge and updip of bottom water. Laricina believes Burnt Lakes could develop into a project similar in quality to Saleski.
The tempered pace of investment in Laricina’s growth properties is prudent and appropriate to our year-to-year priorities and is subject to available capital, recognizing that these assets represent medium- to long-term opportunities.
Laricina also holds oil sands acreage in other growth areas that are in earlier stages of exploration