White Rose Extension wins approval

The Canada-Newfoundland and Labrador Offshore Petroleum Board has reported that the federal and provincial governments have approved the C-NLOPB's fundamental decision on Husky Energy's South White Rose Extension application.

Offshore staff

ST. JOHN'S, Newfoundland and Labrador -- The Canada-Newfoundland and Labrador Offshore Petroleum Board has reported that the federal and provincial governments have approved the C-NLOPB's fundamental decision on Husky Energy's South White Rose Extension application.

Fundamental board decisions have to be ratified by both governments before they can be implemented. The approval of both governments now allows Husky Energy to proceed with its subsea development, which will tie back to theSeaRose FPSO.

The South White Rose Extension contains an estimated 24 MMbbl of oil and is one of a series of possible extensions to the White Rose development.

7/9/2007

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