Husky Energy Increases Holdings in the South China Sea

Calgary, Alberta – John C.S. Lau, President & Chief Executive Officer, Husky Energy Inc., announced that the Company has signed three petroleum contracts with the China National Offshore Oil Corporation (CNOOC) for exploration blocks in the South China Sea, China. The three exploration blocks cover approximately 16,871 square kilometres.

Block 29/06 is located in the Pearl River Mouth Basin adjacent to the Company’s existing discovery block 29/26. Block 29/26 contains the Liwan 3-1-1 discovery which has an estimated resource of four to six trillion cubic feet of natural gas. Block 29/06 has an area of 9,265 square kilometres and is in water depths of 500 to 1,500 metres.