Jun. 2012 - Statoil has confirmed that it has found between 100 and 200 million barrels of recoverable oil at its Mizzen deepwater prospect offshore Newfoundland. The company stated it is now assessing the discovery to determine how and when it can be economically developed. Statoil discovered oil in 2009 while drilling Mizzen O-16 and appraised the find in late 2011. Statoil plans to drill two new wildcat wells in the area by the end of next year, and potentially additional wells in 2014 and beyond. Mizzen is situated roughly 311 miles (500 kilometers) east of St. John's in 3,609 feet (1,100 meters) of water.

Jul. 2011 - Husky, a partner in Block EL 1049, announced it will participate in a partner-operated exploration well on the Mizzen field in the third quarter of 2011. The well will assist in evaluating the 2009 oil discovery on the prospect, located in the Flemish pass. Statoil is the operator of Mizzen with a 65% working interest; Husky owns the remaining 35% interest. Furthermore, an exploration well is also planned, for the fourth quarter, to assess the partner-operated Fiddlehead prospect, located south of the Terra Nova field. Husky holds a 50% working interest in the well.

Dec. 2010 - The Canada-Newfoundland and Labrador Offshore Petroleum awarded Statoil interests in four new licenses offshore Canada. The licenses include a Significant Discovery License and three Exploration Licenses off the coast of Newfoundland. One SDL license is an extension of the company's current Mizzen license, which Statoil operates, holding a 65% interest. Two ELs are located in the Flemish Pass Basin/Central Ridge region, about 311 miles (500 kilometers) offshore Newfoundland. For the license located in the vicinity of the Mizzen SDL, Statoil operates it with a 65% interest. The other license, situated in the northern part of the Flemish Pass Basin, Statoil operates with a 75% interest. One EL is located in the Jeanne d'Arc Basin, about 155 miles (250 kilometers) offshore Newfoundland, which Statoil Canada holds a 50% interest. "Securing these new licenses provides further growth opportunities near our Mizzen discovery in the Flemish Pass Basin and near existing infrastructure in the Jeanne d'Arc Basin, as well as more frontier opportunities in a promising basin," stated Statoil.

Apr. 2009 - StatoilHydro made a discovery in the Flemish Pass Basin, offshore Newfoundland, Canada. Drilled by the Henry Goodrich semisub, hydrocarbons were encountered while drilling the deepwater Mizzen prospect (EL 1049). Further analysis of the well will be undertaken to determine the potential, and an application for an SDL will be filed. StatoilHydro is the operator of Mizzen with a 65% working interest; Husky owns the remaining 35% interest.