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Information Releases

September 30, 2010

Laricina Energy Announces $15,925,000 Flow-Through Financing


Laricina Energy Ltd. (Laricina or the Company) is pleased to announce that yesterday it entered into a financing agreement, on a best-efforts basis, with a syndicate co-led by Peters & Co. Limited and RBC Capital Markets. Laricina will issue up to 430,000 common shares on a flow-through basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”) at a price of $35.00 per share for total gross proceeds of $15,050,000 pursuant to certain exemptions from prospectus requirements (the “Brokered Offering”).

In conjunction with the Brokered Offering, Laricina will also complete, on a private placement basis, a non-brokered offering of up to 25,000 Flow-Through Shares at a price of $35.00 per share to certain insiders of the Company for gross proceeds of $875,000 (the “Non-Brokered Offering”).

The Brokered Offering and Non-Brokered Offering is scheduled to close on or about October 19, 2010. Laricina will use the proceeds from the sale of the Flow-Through Shares to incur eligible Canadian exploration expenses, which will be renounced on or before December 31, 2010 to subscribers of the Flow-Through Shares. The proceeds of the sale of the Flow-Through Shares will be used for Laricina’s delineation drilling and geophysical exploration programs on its oil sands properties.

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 have 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.

Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law including but not limited to the completion of the private placements, use of proceeds from the private placements and regulatory approvals for 2 its projects. 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 press 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.

Laricina’s common shares are not traded on any stock exchange in Canada and thus are not subject to regulation by any Canadian stock exchange. Laricina’s securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of such Act. As a result, Laricina is not presently subject to the reporting, certification or other requirements imposed on U.S. registered issuers under, among other things, U.S. Sarbanes-Oxley Act of 2002.

This release is provided for information purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common shares in any jurisdiction (including the United States) in which such offer, solicitation or sale would be unlawful.

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