Husky Energy Acquires Lima Refining Company

On July 1, 2007, Husky Energy Inc. acquired all of the issued and outstanding shares of Lima Refining Company, the principal asset of which is an oil refinery in Lima, Ohio. The announced purchase price for the acquisition was $1.9 billion US, plus net working capital. In order to complete the acquisition, Husky Energy Inc. established a $2 billion US bridge facility. Royal Bank of Canada, Citibank, N.A., Canadian branch and HSBC Bank USA, National Association, Toronto Branch, acted as co-lead arrangers.

The co-lead arrangers were represented by McCarthy Tétrault LLP, led by J. Michael McIntosh and assisted by Michael Birch (financial services) in the Calgary office.

Husky Energy Inc. and Husky Oil Operations Limited's in-house counsel, James R. Cook, senior manager, legal department was assisted by Bennett Jones LLP, led by Philip Backman and assisted by Margaret Lemay (corporate) in Calgary.