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

To: Tomas who wrote (544)	11/5/1999 9:00:00 AM
From: Tomas	Read Replies (1) \| Respond to of 1713

Sudan promise - Axworthy pleased with Talisman human rights pledge Calgary Sun, November 5 By STEPHANIE RUBEC, SUN MEDIA OTTAWA -- Foreign Affairs Minister Lloyd Axworthy said he's encouraged by Talisman Energy's promise to uphold human rights laws while doing business in Sudan. Axworthy met with president Jim Buckee in Ottawa late Wednesday to discuss the Calgary company's role in war-torn Sudan. "Buckee recognized his responsibilities," Axworthy said. He said Buckee pledged to co-operate with the special envoy Canada is sending to Sudan to look at Talisman's investment in the African country and its effects. "They understood that this is a public policy of Canada and that co-operation would be the most effective way of helping to solve the broader issue of Sudan," Axworthy said. Axworthy's comments came as Talisman reported record third-quarter cash flow and earnings thanks to higher energy prices and gains in output. Talisman had net earnings of $60.2 million in the three months ended Sept. 30, up from a $32.8-million loss a year earlier. Cash flow rose to $280.8 million, up from $126.1 million. Talisman's average oil price during the quarter was $28.67, up 67% from a year earlier, while natural gas prices rose 20% to $2.56 per thousand cu.-ft. Buckee noted Talisman's operation in Sudan "has been in the news lately," as the Canadian and American governments press the company to influence the African country's regime over human-rights issues. "I have recently held constructive meetings with the government of Canada concerning their initiatives," Buckee said in a statement. "I remain convinced that our investment will benefit all the people of Sudan." Canadian John Harder will lead the special envoy to look at whether Talisman is exacerbating the 16-year civil war and displacing Sudanese. Francis Deng, U.N. Secretary General on Internally Displaced Persons, said Talisman's investment should be OK'd only if the money made off the oil project in Sudan is going into education, health care and humanitarian aid, and not weapons. "Then it becomes an aggravating factor in the conflict," Deng explained. canoe.ca