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Gold/Mining/Energy : TLM.TSE Talisman Energy
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To: Tomas who wrote (1682)4/1/2004 10:21:18 PM
From: Tomas  Read Replies (1) of 1713
 
Talisman bidding for new licence terms
Upstream, April 02

Canadian independent Talisman Energy has applied to the Papua New Guinean government to have its two offshore exploration licences re-issued under the country's current fiscal terms, writes Russell Searancke

Talisman acquired an operated interest in offshore blocks PPL-200 (35% equity) and PRL-1 (48% stake) through its acquisition of Lundin's interest in 2001.

Block PRL-1 contains the existing Pandora natural gas discovery and block PPL-200 has an identified prospect. The company and its partners had a commitment to drill a well in 2003 but this is on hold while its application is processed for the re-issue of the blocks, said Stanley Pono, director of the country's Department of Petroleum and Energy.

Talisman said previously that further exploration and appraisal work on both blocks would be contingent on the advancement of possible pipeline projects.
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