East Coast

Offshore Canada’s East Coast, offers high-quality exploration potential that can provide mid to long term growth opportunities. The Company has acquired exploration licenses and developed strategic partnerships to exploit future opportunities in the region.

In 2008, Husky significantly increased land holdings offshore Newfoundland and Labrador acquiring interests in eight exploration licenses. Husky now holds exploration rights ranging from 35 percent to 100 percent in 17 licenses totaling 15,000 square kilometres, including 11 parcels in the Jeanne d’Arc Basin. Two of the new exploration licenses are located offshore Labrador and encompass the Gudrid, Bjarni and North Bjarni gas discoveries.

The Company holds interests in 16 significant discovery licenses (SDLs) in the Jeanne d’Arc Basin with interests ranging from five to 74 percent. Husky holds interests ranging from 17 to 42 percent in six SDLs offshore Labrador.

In summer 2008, Husky participated in a major seismic acquisition program in the Jeanne d’Arc Basin targeting areas of the White Rose core and growth lands, the Terra Nova field and five exploration licenses. In total, more than 2,200 square kilometres of 3-D seismic data were acquired in the Company’s largest-ever seismic program in the region.

In the Jeanne d’Arc Basin, Husky participated in a rig sharing agreement for the mobile semi-submersible drilling unit Henry Goodrich. Husky utilized the first two well slots for delineation wells at North Amethyst and West White Rose.

Through a farm-in agreement with Statoil Hydro, Husky partnered in drilling the Mizzen O-16 well located in 1,100 metres of water in the Flemish Pass, 200 kilometres northeast of the White Rose field. The well was spudded in December and finished drilling in the first quarter of 2009. Results of the well are being evaluated. Husky has a 35 percent interest in the license.

Canada's East Coast Fact Sheet