Exploration

The Atlantic Region offers high-quality exploration potential that can provide mid to long-term growth opportunities.

Offshore Canada's East Coast

In 2010, Husky completed a 3,000-kilometre, two-dimensional ("2-D") seismic acquisition survey in the Sydney Basin between Newfoundland and Nova Scotia. It has acquired more than 2,500 kilometres of 2-D seismic surveys on exploration acreage offshore Labrador.

Husky and its partner hold two Significant Discovery Licences for the Mizzen discovery in the Flemish Pass.

Husky holds a 35 percent working interest in Mizzen.

Greenland

Husky holds exploration rights in three licences off the west coast of Disko Island, Greenland, totalling 35,000 square kilometres. The geology and operating conditions are very similar to those on the East Coast of Canada.

The Company has an 87.5 percent interest in two licences and a 43.75 percent interest in one licence.

Husky has acquired more than 10,000 line kilometres of 2-D seismic, plus 2,200 square kilometres of 3-D seismic over the licences. These surveys were the first 3-D seismic programs ever conducted offshore Greenland. In addition, 41,000 square kilometres of high-resolution aero-magnetic and gravity data has been acquired. Evaluation of this data has identified several leads and prospects; potential drilling locations are being determined.