Husky Energy updates Indonesian ops

The following is an excerpt take from Husky Energy?s quarterly report in ?Management?s Discussion and Analysis? section released Tuesday. (ed)

In the Madura Strait, the Madura BD field development plan has been approved by the Government of Indonesia and contracts for the sale of the gas are in place. Husky, together with the operator CNOOC, continues to await approval of an extension to the Production Sharing Contract (PSC), which expires in October 2012.

Engineering work has been tendered but work will not proceed until the PSC extension has been approved. Husky holds a 50% interest in the Madura Strait Block.

During the fourth quarter of 2009, Husky acquired 1,020 kilometres of new 2-D seismic on the North Sumbawa II Block and processing has been completed and interpretation commenced in late May 2010. Husky will use this data to define exploration prospects and plans to drill the first exploration well in 2011. Husky holds a 100% interest in the North Sumbawa II Block, comprising of 5,000 square kilometers in the East Java Sea. (end of excerpt)