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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: paul feldman who wrote (51141)	9/15/1999 12:46:00 AM
From: LARRY LARSON	Respond to of 95453

Hi Kids- TALISMAN ENERGY GOING HIGHER!!!!! Home - Yahoo! - Help -------------------------------------------------------------------------------- [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN ] -------------------------------------------------------------------------------- Related Quotes TLM TLM.M 32 3/4 48.25 -5/16 -0.35 delayed 20 mins - disclaimer Tuesday September 14, 12:31 pm Eastern Time Company Press Release SOURCE: Talisman Energy Inc. Talisman - First Oil From Orion Development CALGARY, Sept. 14 /CNW-PRN/ - Talisman Energy Inc. today announced first oil production from the Orion field commenced on September 4, 1999. The field is situated in the UK Sector of the Central North Sea, some 16 kilometres east of the Talisman operated Clyde Platform. The Orion field with approximately 20 million boe reserves will be produced across the Clyde Platform. The field will initially be developed with a single well, which is tied back to Clyde via a 10-inch pipeline. Gross production will build over the next couple of weeks to approximately 7,000 bbls/d oil and 16 mmcf/d gas (10,000 boe/d). ``This has been a remarkable twelve months for Talisman with the startup of Indonesian gas, production from Ross and oil exports from Sudan. Completion of the Orion project is significant as the first tieback project carried out by Talisman in the North Sea,' said Dr. Jim Buckee, President and Chief Executive Officer. ``This incremental production will reduce average unit operating costs by over 50% and will contribute to extending the economic life of the Clyde field.' The project was completed over a nine month period and was commissioned one month ahead of schedule and under budget. Total development costs were approximately C$65 million or C$3.25/boe. The co-venture partners in the Orion field are Talisman North Sea Limited, a wholly owned subsidiary of Talisman Energy Inc. (87.5%), Enterprise Oil Exploration Limited (6.25%) and Summit UK Oil Limited (6.25%). Talisman built up its interest in the area through a number of acquisitions and asset trades and gained operatorship of the field in February 1998. Talisman Energy Inc. is the largest independent Canadian oil and gas producer. The Company has operations in Canada, the North Sea, Indonesia and Sudan. Talisman is also conducting exploration in Algeria and Trinidad. Talisman's shares are listed on the Toronto and Montreal stock exchanges in Canada and the New York Stock Exchange in the United States under the symbol TLM. FORWARD-LOOKING STATEMENTS Statements in this press release may contain forward-looking statements including expectations of future production and capital expenditures. Information concerning reserves may also be deemed to be forward-looking statements as such estimates involve the implied assessment that the resources described can be profitably produced in future. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the background risks of the oil and gas industry (e.g., operational risks in development, exploration and production; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), risks in conducting foreign operations (e.g. political and fiscal instability), price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors which could affect Talisman's operation or financial results are included in Talisman's Annual Report under the headings ``Management's Discussion and Analysis - Sensitivities,' ``Risks and Uncertainties,' and ``-Outlook,' and in Talisman's other reports on file with Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. This release is available on Talisman's Internet Web Site: WWW.TALISMAN-ENERGY.COM -- SOURCE: Talisman Energy Inc. --------------------------------------------------------------------------------

To: paul feldman who wrote (51141)	9/15/1999 7:25:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

From the Financial Times: Thai oil and gas demand rises 1.9% Thailand's January-July oil and gas demand, excluding the petrochemical sector, was up 1.9 per cent year-on-year to 893,190 barrels per day, the Petroleum Authority of Thailand said. Consumption of refined oil products in the same period declined 1.4 per cent from the previous year to an average 658,480 barrels per day.