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November 6, 2008

Laricina receives “The Dr. R.M. Butler Memorial Best Paper Award"

Laricina Energy Ltd. is pleased to acknowledge the official presentation of “The Dr. R.M. Butler Memorial Best Paper Presented at CIPC 2007 Award” to Jesse Novak - EIT, Mauro Cimolai – Technical Consultant and Neil Edmunds - Vice President Enhanced Oil Recovery, at the Petroleum Society’s Awards Luncheon held on October 29th, 2008.

The award winning paper, entitled “A History Match of CSS Recovery in the Grosmont", was presented at the Petroleum Society’s 8th Canadian International Petroleum Conference in Calgary in June 2007. The paper described the history matching of the first 2 years of the Buffalo Creek pilot, operated in the Grosmont carbonates by Union Oil from 1980–86.

The primary evaluated data were cycle steam-oil ratio (SOR), cumulative SOR and cumulative oil production of the cyclic steam simulation pilot scheme. After analyzing the pilot’s performance and subsequent simulator behavior, it was concluded that the reservoir in the Grosmont can indeed be characterized with high bulk permeability. This aspect of the formation was the catalyst of the production volumes achieved in the Buffalo Creek pilot and is a key feature that must be considered in any future recovery operations.

This award is further evidence of Laricina’s technical leadership within the emerging Grosmont carbonate play.

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