CALGARY - Husky Energy (TSX:HSE) announced Monday the discovery of additional oil resources in the White Rose oil field offshore eastern Canada.
Husky also said Monday it had acquired land adjacent to its existing holdings in the North Amethyst area, about 315 km east of St John's, N.L.
The White Rose development is on the eastern margin of the Jeanne d'Arc basic, located 350 kilometres east of St. John's, N.L. The field is made up of the North, West and South Avalon Pools.
Husky said the Hiberna Formation in White Rose found 55 metres of high quality oil-bearing reservoir continuing an initial approximated 60 million barrels of light crude oil.
The company said studies indicate these resources could be developed from its recently installed satellite infrastructure at North Amethyst.
"These results are very exciting and suggest that significant additional potential exists within the White Rose area," said John Lau, Husky's president and chief executive officer.
"This potential will be further evaluated in our ongoing program of development drilling and near field exploration in the Jeanne D'Arc Basin."
Husky holds a 72.5 per cent working interest in the White Rose oil field with Suncor Energy (TSX:SU) holding the rest.
Husky's shares added seven cents to $28.22 Monday on the Toronto Stock Exchange.