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News and Media

December 21, 2010

Laricina Energy 2009 Annual Report a Winner

Laricina’s 2009 Annual Report was recognized in the emerging oil and gas companies’ category at the 35th Oilweek/ATB Financial Annual Report Awards. The winners were unveiled at a luncheon in Calgary on November 25, 2010. The Oilweek/ATB Annual Report Awards are the oil and gas industry’s only annual report competition.

The annual report is a company’s single most important document of financial disclosure and it is a major instrument for shareholder and investor communication. For the past 35 years, this event has promoted excellence in Canadian oil and gas exploration, production, transportation, and service and supply.

For each category of companies, two winners are chosen: one for outstanding Editorial/Graphic Design and one for outstanding Financial Statements & Analysis. Laricina was awarded in both divisions.

When we started with the preparation of the annual report we had a vision to provide a useful document to shareholders that contained valuable information about the background of Laricina, our projects, strategic plans and key differentiating strengths. The feed back from the judges noted Laricina’s story is powerful. Our efforts to marry design with detailed information and relevant illustrations is a key focus to ensuring our strategy and corporate messages are clearly communicated to shareholders.

About Laricina Energy Ltd.
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 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 as well as the Grosmont and Winterburn carbonate plays, all of which offer significant resource potential. Laricina is a privately-held, Calgary based, responsible energy company that will contribute supply to the growing demand for crude oil through in situ oil sands development.

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. Forwardlooking 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.

Where Energy
Meets Innovation

Laricina is advancing in situ technology and innovation, through its forward thinking approach and practices. Our ideas begin with people whose knowledge is based on years of in situ experience, redefining and shaping several of the processes we are implementing today.

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