Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

after market hours news release....

[downwithdotcom1]

Husky Energy (TSX: HSE) has signed a Production Sharing Contract (PSC) for a new exploration block offshore China. Block 16/25 is located in the Pearl River Mouth Basin, about 150 kilometres southeast of the Hong Kong Special Administrative Region. The Company expects to drill two exploration wells on the shallow water block during the 2018 timeframe, in conjunction with two planned exploration wells at the nearby exploration Block 15/33. Husky is the operator of both blocks during the exploration phase, with a working interest of 100 percent. In the event of a commercial discovery, its partner CNOOC Limited may assume a participating interest of up to 51 percent during the development and production phase.

[autofocus111]

On a related note. It appears China is seeing a dropoff in local oil production. >>>SINGAPORE A global focus on rising oil output in the U.S. has overshadowed an important trend elsewhere in the market. Falling oil production in Asia is forecast to accelerate as major fields dry up, which will stiffen demand for foreign barrels and help absorb the global glut. But Asia will be

[mrbb]

I can see more friction between US and china in the future. China plans 10, 30, 50, 100 years ahead. China know US could put china on sanction someday. China don't want to be a sitting duck