Oil, Gas and Consumable Fuels
Company Overview of Laricina Energy Ltd.
Laricina Energy Ltd. engages in the exploration, development, and production of bitumen (oil sands) in Western Canada. The company develops in situ (underground) bitumen deposits in sand and carbonate formations; and a portfolio of oil sands assets. The company was founded in 2005 and is based in Calgary, Canada.
425 – 1st Street SW
5th Avenue Place
Calgary, AB T2P 3L8
Founded in 2005
Key Executives for Laricina Energy Ltd.
Chief Executive Officer and President
Vice President of Finance and Controller
Vice President of Corporate Development
Vce President of Production
Compensation as of Fiscal Year 2016.
Laricina Energy Ltd. Key Developments
Laricina Energy Ltd. Announces the Resignation of Adam Vigna from Board of Directors
Oct 20 16
Laricina Energy Ltd. announced the resignation of Adam Vigna from Board of Directors, effective from October 14, 2016. He has held this position since February 5, 2016.
Laricina Energy Ltd. Announces Changes to Board of Directors
Feb 10 16
Laricina Energy Ltd. announced that Brian Lemke, chairman of the board, Jonathan Farber, Gord Kerr, Robert Lehodey, Glen Russell, and Glen Schmidt, president and chief executive officer of company, have resigned from the company's board of directors. Mr. Schmidt will remain as president and chief executive officer of the company. The company also announced that Jennifer Kennedy, Mustafa Humayun and Adam Vigna have been appointed to the company's board joining existing board members Ian Bruce and Barry Jackson. The changes to the board are effective February 5, 2016.
Court of Queens Bench of Alberta Grants Final Court Order to Laricina Energy Ltd
Feb 3 16
Laricina Energy Ltd. was granted a final court order from the Court of Queens Bench of Alberta, exiting from protection under the Companies Creditors Arrangement Act, concluding the stay of proceeding against the company and its subsidiaries. The company has paid in full all accounts in respect of its Companies Creditors Arrangement Act proceedings and has set aside a reserve of $1.8 million to pay the remaining unpaid proven claims and outstanding disputed claim. Resolution of the disputed claim will continue on a timetable set by the parties or the court. Pursuant to the terms of the settlement agreement, as amended, entered into July 20, 2015 with CPPIB Credit Investments Inc. to settle the secured debt obligations owing to CPP Credit which was completed on November 30, 2015, the company entered into a board participation agreement pursuant to which, upon the company exiting from CCAA protection or at such time as the company and CPP Credit may agree, the company board of directors shall consist of five directors.
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