Vancouver-Laricina Energy has raised C$517 million ($530 million) in equity to help finance two oil sands projects in the Canadian province of Alberta, while Southern Pacific Resource has set a budget for its 12,000 b/d thermal recovery project in the oil sands. Calgary-based Laricina, which plans to go public late this year or early in 2012, said August 31 it has sold another 3.3 million shares for gross proceeds of C$140 million on top of C$377 million in June when it issued 8.9 million shares to investors. Both issues were at C$42.50/share.
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