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Gold/Mining/Energy : TLM.TSE Talisman Energy

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To: Edward M. Zettlemoyer who wrote (334)	6/15/1999 7:02:00 AM
From: Marantz	Read Replies (2) of 1713

Talisman Energy To Review 1999 Cap Spending Plan CALGARY -- Talisman Energy Inc. (TLM) will review its 1999 capital spending plans over the summer, but is unlikely to announce a "major increase" in spending, said James Buckee, the company's president and chief executive. At an oil and gas symposium, he confirmed that Talisman's current 1999 capital budget is C$900 million. He said that most of the company's spending this year will be on major projects, including oil development in Sudan, a large natural gas project in Indonesia and oil projects in the North Sea. Buckee said he is optimistic that Talisman's share of oil production from the Sudan project, which is slated to begin in September, could reach 200,000 barrels a day within the next two to three years. Talisman holds a 25% interest in the project. Buckee told the conference that Talisman has made a natural gas discovery in Trinidad. The likely market is liquid natural gas, for which infrastructure already exists in Trinidad, he said. Marantz

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