Husky to Begin Offshore Greenland Survey This Summer

John C.S. Lau, President & Chief Executive Officer of Husky Energy Inc., announced that Husky has been awarded exploration licenses on Block 5 (2007-22) and Block 7 (2007-24) from the West Disko 2006 Licencing Round, offshore Greenland.

"Our experience operating in the North Atlantic offshore Newfoundland and Labrador has positioned us for the challenges in exploring this new frontier area," said Lau. "Husky is excited with this offshore Greenland opportunity and will commence an aero-gravity and magnetic survey over the blocks this summer."

These two blocks, which cover an area of 21,067 square kilometers, are located approximately 120 kilometers offshore the west coast of Disko Island in water depths of less than 500 meters. Husky has an 87.5 percent interest in the licenses and will act as operator. Nunaoil A/S, Greenland's National Oil Company, holds the remaining 12.5 percent interest.

Husky Energy is a Canadian based integrated energy and energy-related company headquartered in Calgary, Alberta.

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