Husky Energy Says White Rose Project on Schedule

Husky Energy reports that during the second quarter of 2003 the turret for the floating production, storage and offloading vessel was tested in Abu Dhabi and is to be delivered to Korea to be installed on the FPSO. The hull for the FPSO is on schedule to depart Korea in early 2004 for delivery to the integration yard in Newfoundland.

Progress at the White Rose oilfield was on schedule during the second quarter of 2003. The first of three glory holes scheduled to be completed in 2003 is substantially complete. The GlobaSantaFe's semisub, Glomar Grand Banks, has arrived on the East Coast of Canada and has completed final testing and sea trials prior to commencing development drilling.