OREANDA-NEWS. Husky Energy is progressing its Atlantic Region growth pillar with a focus on several recent exploration discoveries and advancement of near-field development projects. New opportunities and stable, high net value production provide a strong foundation for the Company's future growth in the region.

Husky with its partner Statoil recently conducted a successful exploration program in the Flemish Pass Basin, located approximately 500 kilometres northeast of St. John's, Newfoundland and Labrador. The Company holds a 35 percent working interest in three discoveries, which are located in close proximity to each other in about 1,100 metres of water.

Highlights include:
* The discovery of light oil in August, 2013 at Bay du Nord, located approximately 20 kilometres south of the previously announced Mizzen discovery. Best estimate contingent resources are estimated by Husky at
400 million barrels (on a 100 percent working interest basis) as of September 23, 2013. Additional prospective resources have been identified which require further delineation.
* The discovery of light oil in June, 2013 at Harpoon, located approximately 10 kilometres from Bay du Nord. Additional appraisal drilling is required to assess the potential resource.
* The discovery of slightly heavier oil at Mizzen in 2009. Best estimate contingent resources are estimated by Husky at 130 million barrels (on a 100 percent working interest basis) as of December 31, 2012.
Together, these discoveries confirm significant opportunity in the Flemish Pass Basin and could be developed in tandem. Husky and Statoil will continue to evaluate the potential for commercial development of the discovered resources. The companies will conduct further drilling in the area to evaluate other opportunities.

The Company continues to advance its three White Rose satellite developments in the Jeanne d'Arc Basin, approximately 350 kilometres east of St. John's. The near-field North Amethyst, South White Rose and West White Rose projects are moving forward. Husky operates the White Rose field and the three satellites.

Recent highlights include:
* Gas injection is expected to begin in the fourth quarter of 2013 at the South White Rose extension, where the Company's proved plus probable plus possible reserves are 20 million barrels of oil (16.8 million barrels probable and 3.1 million barrels possible, Husky W.I. share, as of December 31, 2012). The development will be progressed through a subsea tieback to the SeaRose Floating Production, Storage and Offloading (FPSO) vessel. The gas injection will enhance production while providing additional storage for recovered gas. First oil production is anticipated by the end of 2014.
* Engineering is under way to advance the appropriate development concept for the West White Rose field. First production is anticipated in the 2017 timeframe. The Company's proved plus probable plus possible reserves at West White Rose are 81.2 million barrels of oil (5.4 million barrels proved, 6.9 million barrels probable, and 68.9 million barrels possible, Husky W.I. share, as of December 31, 2012.)

Other Atlantic Region Activities
* A near-field step-out well at Northwest White Rose was spud in August, 2013. Hydrocarbons were discovered and results continue to be evaluated.
* The Aster exploration well in the southern Flemish Pass Basin is expected to be drilled in 2014.
* The non-operated Federation well in the southern Jeanne d'Arc Basin was drilled earlier this year and no commercial hydrocarbons were discovered.

With 15 Exploration Licences and 23 Significant Discovery Areas, Husky is one of the largest landholders offshore Newfoundland and Labrador.