CALGARY, June 28 /CNW/ - Media are invited to join Husky Energy at a sailaway ceremony for the SeaRose FPSO (floating production, storage and offloading) vessel on Monday, July 4, 2005 at the Cow Head Fabrication Facility in Marystown, Newfoundland and Labrador. Media will have an opportunity to attend a technical briefing on the operation of this highly specialized vessel, participate in a news conference with senior Husky representatives and government officials, and tour the SeaRose FPSO before she leaves Marystown for the White Rose oil field. Husky Energy owns 72.5 percent of the White Rose project and is the operator. Peak production for the White Rose oil field is projected to be 100,000 barrels per day. Husky's share of proved and probable reserves for the field is estimated at 165 million barrels of recoverable oil. Note to Editors: - Media attending the event are asked to meet at the Hotel Marystown at 9:15 a.m. on Monday, July 4, 2005. - Media unable to attend the event are invited to participate in a conference call on Monday, July 4, 2005 at 1:45 p.m. NL time (12:15 p.m. Eastern time) by dialing 1-800-396-0424, beginning at 12:05 p.m. Eastern time, reservation number 21250333. - A press release as well as B-roll videotape and photographs of the SeaRose FPSO will be distributed on CNW Group on Monday, July 4, 2005. For more information on Husky Energy and the White Rose offshore oil project, visit www.huskyenergy.ca. 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. Certain statements contained in this presentation, including statements which may contain words such as "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are forward-looking statements and are based on Husky's current belief as to the outcome and timing of such future events. Actual future results may differ materially. Husky's annual report to shareholders and other documents filed with securities regulatory authorities describe the risks, uncertainties and other factors, such as changes in business plans and estimated amounts and timing of capital expenditures, drilling results and changes in estimates of future production that could influence actual results. The Company's disclosure of proved oil and gas reserves and other information about its oil and gas activities has been made based on reliance of an exemption granted by the Canadian Securities Administrators. The exemption permits the Company to make these disclosures in accordance with requirements in the United States. These requirements and, consequently, the information presented may differ from Canadian requirements under National Instrument 51-101, "Standards of Disclosure for Oil and Gas Activities." The proved oil and gas reserves disclosed in this presentation have been evaluated using the U.S. standards contained in Rule 4-10 of Regulation S-X of the Securities Exchange Act of 1934. The probable (and other classes) oil and gas reserves disclosed in this presentation have been evaluated in accordance with the Society of Petroleum Engineers.