Husky increases White Rose production

July 11, 2006
Husky Energy has successfully increased its oil production from a fifth well at the White Rose field, 350 km southeast of St. John's, Newfoundland and Labrador.

Offshore staff

(Canada)- Husky Energy has successfully increased its oil production from a fifth well at the White Rose field, 350 km southeast of St. John's, Newfoundland and Labrador.

Commencing on June 25, 2006, crude oil began flowing from the White Rose SP1 well to theSeaRose FPSO.

John Lau, president and CEO of Husky Energy, said of the production increase: "The production performance of Husky's White Rose project has proceeded on-schedule with the fifth well now completed. White Rose oil field production has now reached 110,000 b/d."

Husky Energy will conduct performance tests on theSeaRose later this month to determine the FPSO's productive capacity. During the 3Q this year Husky will be applying to the regulatory authority C-NLOPB (Canada - Newfoundland and Labrador Offshore Petroleum Board) to increase the annualized daily production above the current approved limit of 100,000 b/d of oil.

A sixth production well, which is scheduled to come on-stream at the end of 2006, is expected to further increase reservoir production capacity to 125,000 b/d of oil.

Husky Energy is the project operator and holds a 72.5 % working interest in the White Rose field. Petro-Canada is its partner and holds the remaining 27.5 % working interest.

07/11/2006