Husky Energy Announces Official Opening of Tucker Oil Sands Project

Oct 02, 2006 - 11:59 ET

CALGARY--(CCNMatthews - Oct. 2) - Media are invited to join Mr. John C.S. Lau, President & Chief Executive Officer, Husky Energy Inc., the Premier of Alberta, Honourable Ralph Klein, the Minister of Energy, Honourable Greg Melchin and other guests at the opening ceremony for the Tucker Oil Sands Project. The event will be held at the project site 30 kilometres northwest of Cold Lake, Alberta on Thursday, October 5, 2006 from 10:30 a.m. to 1:00 p.m.

Media will have an opportunity to attend a technical briefing on the operation of Husky's inaugural oil sands project and participate in a question and answer session with Mr. Lau and Husky's operational team.

The project was completed on time and below its budget of $500 million.

First oil is expected to be in November of this year. During the 35-year project life Husky expects to produce proven, probable and possible reserves of 348 million barrels of bitumen with peak production of more than 30,000 barrels per day to be reached 18 to 24 months after first oil. The facility will employ approximately 40 full time workers.

Husky Energy is a Canadian based, integrated energy and energy-related company headquartered in Calgary, Alberta. Husky Energy is publicly traded on the Toronto Stock Exchange under the symbol HSE.

Cautionary note regarding forward-looking statements or information - Certain statements contained in this news release constitute forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities legislation. These forward-looking statements relate to future events or Husky's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking statements and are based on Husky's current belief or assumptions as to the outcome and timing of such future events or performance. In particular, forward-looking statements include the timing and quantity of Tucker production and Tucker employment levels. Actual future results may differ materially. Husky's annual report to shareholders and other documents filed with securities regulatory authorities (accessible through the SEDAR website and the EDGAR website describe the risks, uncertainties and other factors, such as drilling results, changes in business plans and potential delays or changes in plans with respect to development projects or capital expenditures, that could influence actual results. Except as required by law, Husky disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Husky Energy Inc.,
Tanis Thacker
Senior Analyst, Investor Relations
(403) 298-6747