September 12, 2008
Husky Energy Acquires Two Blocks in Canada
Husky Energy, an integrated energy company, has acquired two parcels, blocks 1 and 3, at the Canada-Newfoundland and Labrador Offshore Petroleum Board land sale offshore Labrador.
Husky currently has 17.13% working interest in the Bjarni and north Bjarni significant discovery licenses (SDLs) which are located within NL07-2-3 and 17.13% in the Gudrid SDL which is located within parcel NL07-2-1.
The Canada-Newfoundland and Labrador Offshore Petroleum Board estimates that the Bjarni and north Bjarni discoveries hold natural gas resources of 3.1 trillion cubic feet (tcf) and the Gudrid discovery holds 0.9tcf. In addition Husky also has 17 to 19% working interests in the two other SDLs on the Labrador Shelf.
John Lau, president and CEO of Husky Energy, said: "Expanding our interests offshore Newfoundland and Labrador has been one of Husky's strategic priorities. We are pleased that the company has acquired these exploration blocks in an offshore East Coast basin."