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

To: Tomas who wrote (606)	11/26/1999 4:19:00 PM
From: Spiney	Respond to of 1713

TLM seems to thrive on the hot spots! Message 12115754 spiney

To: Tomas who wrote (606)	11/26/1999 6:27:00 PM
From: Tomas	Read Replies (2) \| Respond to of 1713

Talisman Seen Profiting From Sudan: Analyst - Dow Jones CALGARY (Dow Jones) November 25 -- Talisman Energy Inc. (TLM) would realize a hefty profit on the sale of its Sudanese oil assets should the Canadian government order the company out of the war-torn African country, a Canadian analyst familiar with Talisman's assets predicts. In a research report published Thursday, Martin Molyneaux, research director of FirstEnergy Capital Corp., Calgary, estimated a sale price for the assets of between C$10.50 and C$13.50 a share. Talisman paid about C$5.60 a share for its 25% stake in a large oil production and pipeline project in Sudan, he said. In rating Talisman a core-position buy, FirstEnergy's strongest recommendation, Molyneaux said that if Talisman is allowed to continue operating in Sudan, its project there "could very well be the most profitable oil production of any publicly traded oil company in Canada". The oil production and pipeline facilities in Sudan owned by Talisman and its partners - Chinese, Malaysian and Sudanese state oil companies - are "designed for relatively rapid expansion", Molyneaux said. "It is readily apparent that the current production of 155,000 barrels a day is only the beginning," he added. One of a group of about 25 oil analysts who recently traveled to Sudan at Talisman's invitation, Molyneaux said he left the country "with the impression that the North American governments and press have at a minimum misled their respective constituents" regarding Talisman's alleged role in exacerbating a prolonged civil war in Sudan. "Over and over again it became very clear that the story the West is hearing, and apparently listening to, has been generated by General John Garang, who leads the oppostion in the south (of Sudan), representing approximately 400,000 to 500,000 people out of Sudan's population of around 32 million," he said. Garang is "one of only a very few" Sudanese nationals to have been educated in the U.S. and to reside for part of each year in Washington, Molyneaux added. U.S. State Department officials, including Secretary of State Madeleine Albright, have publicly criticized Talisman for operating in Sudan, a country with which the U.S. has severed diplomatic relations. A number of church groups and human rights organizations in the U.S. and Canada also oppose the company's continued presence in Sudan. Talisman's stock has lost about 20% of its value in recent weeks, with some institutional investors dumping their holdings. Analysts attribute the decline largely to negative publicity over Sudan. In his report, Molyneaux said Sudan's new constitution, passed in July 1998, gives the people of southern Sudan the right to self-determination should the majority of southern Sudan's roughly 6 million to 7 million residents vote in favor of separation. He didn't elaborate on the existence, nature or timing of any plan the Sudanese government may have to hold such a vote. The Canadian government recently announced it will send a fact-finding mission to Sudan to investigate whether Talisman's presence in the country has helped the Sudan's Islamic government wage war on the largely Christian and animist population of southern Sudan. Among other things, the Canadian delegation has been charged with investigating allegations that the Sudanese government forcibly relocated residents of some southern Sudanese settlements to make way for oil development. A report on the delegation's findings is due early in 2000, Molyneaux said. Talisman is a Calgary oil and natural gas company.