Husky Increases Production from White Rose

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

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

"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 barrels per day" said Mr. Lau, President & CEO of Husky Energy.

Husky Energy will be conducting performance tests on the SeaRose FPSO later this month to determine the productive capacity of the FPSO. During the third quarter 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 barrels of oil per day.

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 barrels of oil per day.

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

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