Indonesia

Husky has been active since 1989 in Indonesia. The Madura Block, in which the Company holds a 40 percent interest, is the current focus for development. The BD field is being developed first, followed by the MDA field. Both fields will produce natural gas and gas liquids. The fields are being developed in partnership with CNOOC (as the operator) and an affiliate of Samudra Energy Ltd., a local Indonesian company.

Madura Strait

Husky was granted a 20-year Production Sharing Contract (PSC) from the Government of Indonesia. The PSC includes the Madura BD and MDA natural gas and natural gas liquids fields offshore East Java, as well as numerous other prospects and leads. The extension provides the basis for advancing the Madura BD field toward development with first production planned for 2014.

North Sumbawa II

Husky holds a 100 percent interest in the North Sumbawa II PSC area, a 5,000 square-kilometre block in the East Java Basin approximately 300 kilometres east of the Madura Strait PSC.

The Company has evaluated more than 1,000 kilometres of 2-D seismic data to define an exploration prospect for drilling, which is currently planned to commence in 2012.