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Gold/Mining/Energy : TLM.TSE Talisman Energy
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To: LARRY LARSON who wrote (1661)9/11/2003 7:53:56 PM
From: Tomas  Read Replies (1) of 1713
 
Talisman spreads its NY net
Upstream, September 12
By Candice Cowin

Canadian independent Talisman Energy expects to increase the number of prospective natural gas drilling locations on its 400,000-acre leasehold in New York based on the success of its first two wells.

The company had originally identified 50 prospective locations at Black River. Talisman was not prepared to say how many additional locations might be targeted as a result of recent testing, but overall drilling activity and production is expected to increase next year.

Talisman's subsidiary Fortuna Energy is on course to drill a total of eight wells in the Black River this year. The initial two probes in the programme recently tested at a combined production rate of about 12.8 million cubic feet of natural gas per day.

Plans are under way to tie one of the wells into a local gathering system.

The second well will be tied into the Columbia transmission system by year-end. A third well is scheduled for tie-in by early 2004 at a rate of 5 MMcfd.

The company has brought in two additional rigs to spud one well each over the next couple of months.

Through this year's drilling programme, the company has earned access to additional acreage.

The increased access should open the door for an expanded drilling programme in 2004.

Talisman allotted a total of $45 million for the Black River project this year, including seismic activities.
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