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Information Releases

June 28, 2010

Laricina awards four scholarships to the Schulich School of Engineering at the University of Calgary

The Schulich School of Engineering at the University of Calgary have selected their 2009 recipients of the Laricina Energy Scholarships in Mechanical, Chemical or Oil and Gas Engineering. Four outstanding undergraduate students who displayed remarkable academic achievement will each be awarded a $3,000 scholarship to support their respective university educations.

Funded by Laricina Energy Ltd. (Laricina), the scholarship program enables students to focus on their studies without the added financial pressures that come with pursuing a post-secondary education. In 2009, Laricina established The Laricina Energy Scholarships in Engineering with the University of Calgary and intends to provide four annually funded awards of $3,000 each for five years.

Laricina has partnered with the Schulich School of Engineering as it plays a crucial role in supporting the energy sector through enhanced and high-profile energy research, and a steady stream of new workers educated in relevant industry issues. The energy sector in Alberta is a vital economic player and hinges on a strong demand for well educated workers. Engineers are in high demand and graduates that possess a thorough education are needed. The Schulich School of Engineering is providing those resources necessary in future engineering professionals to meet this demand, and with skills to develop prospective innovations for the energy sector.

“We’re excited to embark in this scholarship program with SSE,” said Neil Edmunds, Vice President Enhanced Oil Recovery and Adjunct Associate Professor at the Schulich School of Engineering. “Training future engineers is a shared priority of both the SSE and Laricina, and this program is consistent with Laricina’s fundamental approach to building a highly intuitive and innovative organization.”

To be considered for the Laricina scholarships, students are automatically eligible based on their academic performance. Schulich School of Engineering makes the final scholarship decision.

About the Laricina Energy Scholarships in Engineering
The mission of the Laricina Energy Scholarships in Engineering is to prepare students to successfully pursue and/or further careers in the energy industry. Each year, two scholarships are awarded in Mechanical Engineering and two scholarships in Chemical Engineering or Oil and Gas Engineering in the amount of $3,000 each. The curriculum promotes critical thinking, creativity and excellence, and embraces the highest level of innovative learning, advancing the field of engineering.

About Laricina Energy Ltd.
Laricina is a privately held, Calgary-based company concentrating on capturing opportunities in the oil sands areas of western Canada. The Company is creating value through developing a diverse portfolio of oil sands assets using current and future innovations of in situ technology. Laricina has identified five core areas that present production potential in excess of 500,000 gross barrels of bitumen per day from a large concentrated resource base with approximately 4.6 billion barrels net recoverable bitumen. These assets range from the familiar oil sands in the McMurray formation to less developed and less mature Grand Rapids and Grosmont and Winterburn carbonate plays, all of which offer significant resource potential.

This message contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. 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. By their nature, forward-looking statements involve assumptions 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 not to place undue reliance on forward-looking statements. Laricina disclaims any intention or obligation to update or revise any forwardlooking 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.

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