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Gold/Mining/Energy : TLM.TSE Talisman Energy

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To: LARRY LARSON who wrote (1679)	3/12/2004 5:18:55 AM
From: Tomas	Read Replies (1) of 1713

Talisman flow rates on the rise at Black River Upstream, Friday, March 12 By Candice Cowin Talisman Energy's Appalachian subsidiary is preparing to tie in its two latest gas producers at the Black River play in southern New York state. Fortuna Energy recently flow tested the wells at rates of around 20 million cubic feet of natural gas per day. Pipeline construction is currently taking place and both wells will be tied in to an existing Fortuna gathering line around the end of April. The new wells are part of an ongoing horizontal drilling programme in Appalachia that was launched with the Andrews discovery in January. The company's 3000-metre Andrews discovery well flowed at test rates of more than 18 million cubic feet per day. The probe was put on production last weekend at an initial rate of about 10 MMcfd. Output from the Andrews well will rise to 20 MMcfd later this month after the completion of a new gathering pipeline. Fortuna has tested a total of five wells at combined rates of 69 MMcfd in Appalachia over the past four months. The company plans to drill a total of 11 horizontal Black River wells this year on a budget of $C85 million ($64 million), which is considered an aggressive exploration programme. Fortuna is currently drilling three wells in the Black River play. The company expects to run three rigs there through mid-year, dropping one near the end of the year. The work there is expected to increase average 2004 production by 20 MMcfd over last year to above 80 MMcfd. The company has no plans at present to add wells or increase capital for the project. "It's still early days in the project," said Fortuna Energy's president Simon Brame. "The success is better than we planned, with the well rates higher than we expected in most cases. We're very pleased with the last three wells and will continue to evaluate potential in this area."

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