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Gold/Mining/Energy : TLM.TSE Talisman Energy
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To: Tomas who wrote (1645)6/23/2003 7:19:56 PM
From: John Sladek  Read Replies (2) of 1713
 
23-Jun-2003 Talisman Energy announces Alaska exploration deal with French oil company Total

June 23, 2003 - 5:52 pm

CALGARY (CP) - Talisman Energy Inc. has struck a deal with a unit of French oil giant Total to explore part of the Alaskan North Slope.

Talisman said late Monday its wholly owned Fortuna Exploration LLC subsidiary had agreed to farm-in on land owned by Total E&P USA Inc. in the National Petroleum Reserve in northern Alaska. Financial terms of the agreement were not disclosed.

The acreage was acquired by Total in May 2002. The prospects lie to the west of the 430-million barrel Alpine field and other recently announced discoveries in the Lookout-Rendezvous area of Alaska.

Talisman said Fortuna will take part in drilling an exploration well to earn a 30 per cent interest in the prospect, with the right to earn a similar interest in the remaining exploration prospects. The company will evaluate the sites this year, with first drilling expected in early 2004.

Talisman (TSX:TLM) is one of Canada's most international energy companies, with major natural gas operations in Canada and oil production from the North Sea, Indonesia, Malaysia, Vietnam, Algeria and the United States.

In trading on the Toronto stock market Monday, Talisman shares closed unchanged at $61.34.

680news.com
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