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Gold/Mining/Energy : Talisman Energy Inc. (TLM)

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From: JakeStraw	5/9/2006 12:00:44 PM
	of 82

Talisman Energy Drills Another 'Boomer' in Northeastern British Columbia biz.yahoo.com Tuesday May 9, 11:11 am ET CALGARY, ALBERTA--(MARKET WIRE)--May 9, 2006 -- Talisman Energy Inc. (TSX:TLM.TO) (NYSE:TLM) has announced another successful deep well and two successful Triassic gas wells in the Monkman area. The Talisman Seneca Brazion d-93-D/93-P-5 well (80% Talisman, 20% Seneca Energy Canada Inc.) commenced production on April 10, 2006 and has produced at rates of up to 33 mmcf/d, constrained by surface equipment. This is equivalent to a gross raw rate of 42 mmcf/d. The well was tied-in within two months of the original completion test, a significant accomplishment made possible by utilizing existing infrastructure. "This is our second major gas discovery in the Monkman Paleozoic," said Dr. Jim Buckee, President and Chief Executive Officer. "Our b-60-E well was the most prolific well in the basin in 2005 and we believe d-93-D is in the same league. This is another example of why Talisman is committed to its deeper conventional natural gas strategy in Western Canada. Wells like b-60-E and d-93-D are extremely value accretive." The b-60-E well had peak sales gas production of 70 mmcf/d in 2005 and is currently flowing at approximately 50 mmcf/d. The d-93-D well was drilled eight kilometers southeast of b-60-E. Early indications suggest original gas in place volumes of up to 100 bcf. Plans are underway to drill another deep well in 2006. The Company also plans to shoot the second phase of a major 3D seismic program in the Brazion area. It is anticipated that this will lead to additional Paleozoic and Triassic drilling locations for 2007 and beyond. In the Triassic play, the Company recently tested two wells and plans to have them on production by the third quarter of 2006. Test rates were approximately 30 mmcf/d (33% Talisman) and 16 mmcf/d (31% Talisman) gross raw rates respectively. A well in the Bullmoose area (73% Talisman) is currently being drilled.

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