Laricina Energy Ltd. - Equity Ownership

Enerplus first bacame involved in the oil sands in 2002 through a 16% working interest acquisition of the Joslyn Lease from Deer Creek Energy Ltd. In 2005 Deer Creek was acquired by a wholly-owned subsidiary of Total S.A., a major international oil and gas company experienced in the extraction and refining of heavy oil. Later in 2005 we sold a 1% working interest in Joslyn in exchange for equity in Laricina Energy Ltd., a new private oil sands focused company led by the former Chief Executive Officer of Deer Creek Energy. Included in the sale is an area of mutual interest agreement which has been designed to jointly pursue additional in-situ oil sand ventures.

In 2006, Enerplus invested approximately $3 million to acquire a non-operated working interest in several land positions with SAGD development potential.

Click here for Laricina Energy Ltd. website.