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HUSKY OIL OPERATIONS LTD. AGREE WITHMOBIL OIL CANADA TO EXCHANGE INTERESTS

 CALGARY, Alberta, Nov. 19 /PRNewswire/ -- Husky Oil Operations Ltd. announced today that it has agreed with Mobil Oil Canada to exchange Husky's Scotian Shelf field interests for Mobil's interest in two Grand Banks fields, Whiterose and North Ben Nevis, offshore Newfoundland.
 In this transaction, Husky has divested its interests in 12 primarily non-operated significant gas field discovery areas on the Scotian Shelf. Husky acquires Mobil's interests in the Whiterose and North Ben Nevis oil field discovery areas. Husky is the operator of these two significant discovery areas. Husky's interests in the Whiterose EO-9 and North Ben Nevis discoveries are now each at approximately 40 percent.
 Jamie Blair, vice president, International and Canada Frontier, says "This asset exchange will consolidate Husky's East Coast interests on the Grand Banks providing greater focus to Husky's evaluation of future development potential for this region. This transaction adds to Husky's significant presence in this high-quality petroleum basin."
 Husky Oil Ltd. is an internationally active, Canadian-based petroleum company with headquarters in Calgary. Husky is a privately held company controlled by the Hong Kong-based Li Ka-shing Group of companies.
 -0- 11/19/93
 /CONTACT: Dawn Mitchell, corporate communications Manager, 403-298-7188/


CO: Husky Oil Ltd. ST: Alberta IN: OIL SU: TNM

EH-JB -- LA007 -- 6476 11/19/93 11:08 EST
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Publication:PR Newswire
Date:Nov 19, 1993
Words:212
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