TSX:HSE.PR.B - Post by User
Post by
Nawaralsaadion Sep 20, 2011 12:56pm
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Post# 19062060
BMO take on Liwan news
BMO take on Liwan newsHusky Energy announced that is has sanctioned the development of the
two principal fields of the Liwan Gas project, Liwan 3-1 and Liuhua 34-2.
Husky holds a 49% interest in the development while its partner China
National Offshore Oil Corporation (CNOOC) holds the remaining 51%.
Production from these fields is expected to come on stream in 2013/2014
at 300 MMcf/d (145 MMcf/d net to Husky) and potentially increase to 500
MMcf/d (245 MMcf/d net) as the Liuhua 29-1 field comes on line in 2015.
Husky anticipates production of 50,000 boe/d in South East Asia by 2015
versus current production of approximately 9,600 boe/d. Formal
sanctioning of Liwan is potentially positive as it represents a step toward
realizing the growth potential in Husky’s Southeast Asian assets. Our
current risked net asset value estimate of $36.52/share includes
.45/share for the Liwan development.
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Regards,
Nawar