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Gold/Mining/Energy : TLM.TSE Talisman Energy -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (516)	10/26/1999 8:15:00 PM
From: John Sladek	Read Replies (1) \| Respond to of 1713

October 26, 1999: Talisman Applauds Canadian Government Initiative On Sudan Jim Buckee, President and Chief Executive Officer, comments on the recently announced Canadian Government Initiatives in Sudan. ''I am delighted with the initiatives announced today by Lloyd Axworthy, Minister for Foreign Affairs. This is the type of positive engagement that we had hoped for when we entered Sudan a year ago. There is a lot of misinformation surrounding Sudan, and Talisman will respond seriously and constructively to these initiatives. Canada has a reputation as an honest broker and peacekeeper throughout the world. I am particularly pleased that Canada will take an active role in the IGAD peace process. ''We are also willing to provide any support we can to Mr. Harker in his efforts to provide a balanced and objective view of what is really happening in Sudan. We believe Canada's limited diplomatic links with Sudan have hampered a true understanding of the real human tragedy, the civil war and the tribal dynamics in the South. ''We expect to soon implement the International Code of Ethics for Canadian Business and have already spoken with the Government of Sudan about many of the issues raised by Mr. Axworthy. However, I should point out that Talisman is a business and does not have the role of a sovereign government. We encourage the evolution of diplomatic relations between Ottawa and Khartoum to the point where a positive and constructive dialogue can be held. ''I strongly believe in the government's view that this oilfield may be a key part of Sudan's post war economy. The best path towards peace will be in economic development, constructive dialogue and a fair, honest assessment of the real situation in Sudan.'' 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 For further information: David Mann, Manager, Investor Relations & Corporate Communications, Phone: 403-237-1196, Fax: 403-237-1210, E-mail: tlm(at)talisman-energy.com