TMX group

CALGARY, April 17 /CNW/ - Mr. John C.S. Lau, President & Chief Executive
Officer of Husky Energy Inc., announced today that Husky has acquired 23,680
acres of oil sands leases adjacent to its Saleski property. The land was
purchased at the April 5, 2006 land sale for approximately $10 million and
will add approximately 2.7 billion barrels of bitumen in place to its existing
holdings.
Husky, which holds a 100 percent interest in the Saleski leases,
completed a four well evaluation program this winter. The results of the
Saleski program will provide additional core samples for geological
evaluations and will form the basis for enhanced recovery pilots in the coming
years.
"This acquisition further increases Husky's oil sands position and will
allow the company to become a dominant oil sands player," said Mr. Lau. "The
acquisition consolidates Husky's total leases in Saleski to 178,560 acres and
increases the potential resources in Saleski to approximately 19.5 billion
barrels of original bitumen in place."
The potential resources in the Saleski lease is located in the Grosmont
carbonate formation and has on average 250 metres of overburden over the
lease. Although there are no active commercial projects producing bitumen from
carbonates in Alberta, several pilot projects produced bitumen from the Husky
leases in the 1970's and 1980's. The Buffalo Creek steam stimulation pilot was
among the most encouraging of these pilots and is immediately adjacent to the
recently purchased leases.

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.

Forward Looking Statements - Certain statements contained in this
release, 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 drilling results that could
influence actual results. 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.

Reserves Data and Other Oil and Gas Information - Husky's disclosure of
reserves data and other oil and gas information is made in reliance on an
exemption granted to Husky by Canadian securities regulatory authorities,
which permits Husky to provide disclosure required by and consistent with
those of the United States Securities and Exchange Commission and the
Financial Accounting Standards Board in the United States in place of much of
the disclosure expected by National Instrument 51-101 Standards of Disclosure
for Oil and Gas Activities.

Cautionary Note for U.S. Investors - The United States Securities and
Exchange Commission ("SEC") permits U.S. oil gas companies, in their filings
with the SEC, to disclose only proved reserves that the company has
demonstrated by actual production or conclusive formation tests to be
economically and legally producible under existing economic and operating
conditions. In this release, Husky refers to "bitumen in place" and "potential
resources" which are inherently more uncertain than proved reserves and which
the U.S. oil and gas companies are prohibited from including in reports filed
with the SEC.