-- Improved recovery and expansion of heavy oil thermal projects, including the new Pikes Peak South and Paradise Hill developments, added 13 million boe in proved reserves.-- Additional drilling locations at the liquids-rich gas Ansell project resulted in the booking of an additional 27 million boe of natural gas and natural gas liquids in proved reserves.-- In total, proved reserves in Western Canada, including Heavy Oil but excluding Oil Sands, were 850 million boe as of December 31, 2012.
-- Following final regulatory approval of the Overall Development Plan by the Government of China, the initial booking of reserves for the deepwater Liwan Gas Project added 51 million boe of natural gas and natural gas liquids in proved undeveloped reserves.-- The Sunrise Energy Project has estimated reserves of 3.7 billion barrels of bitumen (0.36 proved, 2.48 probable and 0.86 possible billion barrels) as of December 31, 2012. Husky has a 50 percent working interest in the reserves.
A full reporting of the Company's oil and natural gas reserves data for the year ended December 31, 2012 has been included in the Annual Information Form (AIF), which was filed with securities regulators on March 8, 2013 on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR), and the U.S. Electronic Data Gathering, Analysis and Retrieval (EDGAR) System. It may be accessed electronically at www.sedar.com and www.sec.gov. Both the Canadian and U.S. disclosure documents may also be accessed electronically from Husky's website at www.huskyenergy.com
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and is publicly traded on the Toronto Stock Exchange under the symbol HSE and HSE.PR.A. More information is available at www.huskyenergy.com
Certain statements in this document are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of the applicable Canadian securities legislation, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended.
The forward-looking statements contained in this document are forward-looking and not historical facts. Such forward-looking statements are based on the Company's current expectations, estimates, projections and assumptions that were made by the Company in light of its experience and its perception of historical trends. Further, such forward-looking statements are subject to risks, uncertainties and other factors, some of which are beyond the Company's control and difficult to predict. Accordingly, these factors could cause actual results or outcomes to differ materially from those expressed or projected in the forward-looking statements. Some of the forward-looking statements and information may be identified by statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "estimated", "intend", "plan", "projection", "could", "aim", "vision", "goals", "objective", "target", "schedules" and "outlook"). In particular, forward-looking statements in this news release include, but are not limited to, references to, with respect to the business, operations and results of the Company generally: the Company's target five-year average reserves replacement ratio; and the Company's target annual growth rate through 2017.