2010-01-12-2009-11-30-2009-11-30

Bought heavy oil properties in Lloydminster area of AB, SK, gaining 12 MMBO proved, 6,000 BO/d.

Husky Energy Inc., Calgary, (Toronto: HSE) has acquired heavy oil properties in the Lloydminster area of Alberta and Saskatchewan from Penn West Energy Trust, Calgary, (Toronto: PWT) for an undisclosed price. The assets, which complement Husky's core area of business, include 12 million barrels of proved oil reserves and 8.5 million barrels of probable reserves; reserve estimates are as of Nov. 1, 2009. The acquisition provides Husky more than 6,000 barrels of oil production per day and 16,700 acres of undeveloped land. According to Husky, the deal adds approximately 1 billion barrels of discovered petroleum initially in place to the company's portfolio. Among Husky's existing infrastructure in the Lloydminster area are an upgrader, asphalt refinery, power plant, ethanol plant, logistics center and pipelines.