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HUSKY OIL OPERATIONS GIVES NOTICE IT IS TERMINATING ALL OF ITS RIGHTS AND OBLIGATIONS UNDER THE PRISM SULPHUR SUPPLY AGREEMENT

 CALGARY, Alberta, Jan. 17 /PRNewswire/ -- Husky Oil Operations Ltd. has given notice to Prism Sulphur Corporation that it is terminating all of its rights and obligations under the Prism Sulphur Supply Agreement effective December 31, 1994. At that time, Husky will also cease to be a shareholder of Prism Sulphur Corporation. Commencing January 1, 1995, Husky will sell its sulphur independent of Prism in keeping with the company's business strategy to market its own commodities directly.
 As one of Canada's largest producers and marketers of elemental sulphur, Husky has decided to take this step in order to maximize the value of its sulphur operations. These include liquid and formed sulphur production facilities and extensive sulphur blocking capacity.
 Husky Oil Operations Ltd. is a wholly-owned subsidiary of Husky Oil Ltd., an internationally active, Canadian-based petroleum company with headquarters in Calgary, Alberta. Husky is a privately held company controlled by the Hong Kong-based Li Ka-shing Group of companies.
 -0- 1/17/94
 /CONTACT: Dawn Mitchell, Corporate Communications Manager of Husky Oil Operations, 403-298-7188/


CO: Husky Oil Operations Ltd.; Prism Sulphur Corporation ST: Alberta IN: OIL SU:

GK-CB -- NY052 -- 1330 01/17/94 12:43 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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