Husky has secured Transocean's mobile semi-submersible drilling unit, GSF Grand Banks, for a three-year exploration and delineation drilling program in the White Rose area offshore Newfoundland and Labrador. The three year engagement is valued at approximately $380 million and provides for two, one-year extension periods. Husky’s current exploration and delineation program around the White Rose field has already lead to the identification of a number of possible satellite fields. The first of these fields to be developed will be North Amethyst for which Husky has already submitted a development plan to the Canada-Newfoundland and Labrador Offshore Petroleum Board. Pending government and regulatory approvals, Husky expects to begin North Amethyst development drilling by mid 2008.