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Information Releases

October 20, 2011

Laricina President and CEO Glen Schmidt wins 2011 Ernst & Young Entrepreneur of the Year Award Prairies Region-Energy Development and Production

Laricina Energy Ltd. (Laricina) is pleased to announce and congratulate President and CEO Glen Schmidt on his achievement of being awarded the 2011 Ernst & Young Entrepreneur of the Year Award Prairies Regions – Energy Development and Production at the Entrepreneur of the Year Gala held in Calgary on October 18, 2011.

The Entrepreneur of the Year Awards celebrate and recognize the spirit of entrepreneurship and the contribution of entrepreneurs in Canada and all over the world. Nominees are reviewed by an independent judging panel, which is composed of several distinguished business leaders and previous award recipients.

Schmidt was nominated by his colleagues in the spring of 2011 and placed as a finalist along side 37 other entrepreneurs, Finalists-Prairies. Schmidt’s nomination was based on his drive and perseverance in founding and successfully managing privately-held Laricina Energy Ltd., as well as his entrepreneurial tenacity.

When asked how it felt to be this year’s winner Schmidt said “Laricina has pioneered since its foundation. The E&Y Award for Entrepreneurship describes well the energy, spirit and drive of the people of Laricina. I am very please to receive this award and be part of such a fabulous team with imagination and discipline to stay the course and keep the ball rolling”.

This is the first time Schmidt has been nominated for this award.

To learn more about Ernst & Young Entrepreneur of the Year Awards, click here.

About Laricina Energy Ltd.
Laricina is a non-public, Calgary based, responsible energy company that will contribute supply to the growing demand for crude oil through in situ oil sands development.

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 600,000 gross barrels of bitumen per day from a large concentrated resource base with approximately 4.6 billion barrels net recoverable bitumen as determined by Laricina’s independent reservoir engineers. These assets include oil sands resources in the familiar McMurray Formation, and the developing Grand Rapids, and Grosmont and Winterburn carbonate plays, all of which offer significant production potential.

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.

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