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

To: Tomas who wrote (649)	12/10/1999 9:01:00 AM
From: Tomas	Respond to of 1713

Talisman adopts international code of ethics CALGARY, Dec 10, Dr. Jim Buckee reports Talisman Energy announced today that it has formally adopted the International Code of Ethics for Canadian Business. The international code was developed in 1997 by a group of Canadian companies with multinational operations. It reinforces Talisman's existing policies on business conduct, which have been in place and applied to worldwide operations for many years. "The Canadian government, in it's Sudan policy paper of Oct. 26, asked Talisman to implement the International Code of Ethics for Canadian Business," said Dr. Jim Buckee, president and chief executive officer. "Our board was pleased to adopt the International Code, which is in accordance with our long standing policies of business conduct. Talisman is committed to maintaining high standards of ethics everywhere it does business. We have also made substantial progress in meeting the other requests made by Mr. Axworthy and continue to support the efforts of the Government of Canada towards peace in Sudan." Talisman will incorporate the code into its business conduct policy, which also includes abiding by provisions of the U.S. Foreign Corrupt Practices Act and the Canadian Corruption of Foreign Public Officials Act. The company will start an education program for all employees, incorporating the code into Talisman's corporate procedures guidelines, which asks employees to complete annual compliance certificates. 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. biz.yahoo.com

To: Tomas who wrote (649)	12/10/1999 9:47:00 AM
From: Tomas	Read Replies (1) \| Respond to of 1713

"We think the company is undervalued but there are more sellers than buyers out there" U.S. teacher fund sells Talisman shares Calgary Herald, December 10 Charles Frank, Calgary Herald, with files from Canadian Press Talisman Energy Inc. continues to be buffeted by fallout from the company's controversial activities in the Sudan. Officials with TIAA-CREF, a New York-based college teachers' fund, confirmed Thursday it has reduced holdings in the Calgary-based energy giant. Last June, it held more than 260,000 Talisman shares. "We consider ourselves a long-term investor," said Claire Sheehan, a spokeswoman for the fund. "But in this case we decided the time was right to sell our shares and move on." Last month, the Texas Teachers Retirement Fund sold its 100,000-share stake in Talisman while Manning and Napier, a U.S. investment house, recently sold 1.2 million shares. "These funds are definitely susceptible to public opinion," agreed energy analyst Wilf Gobert of Peters and Co. "And that can cause a stock to be sold off. I don't get the sense that these people are selling Talisman to lock in profits." Talisman shares closed at $35.85 Thursday on the Toronto Stock Exchange. In early September, the company hit a 52-week high of $49.15. "We think the company is undervalued but there are more sellers than buyers out there and that has caused the price to back off,' said Gobert. However, Gobert also noted that the entire oil and gas sector has fallen into disfavour in recent weeks -- even though the price of oil continues to hold firm in the $26 US a barrel range and natural gas prices are on average "the best they've been in the last 15 years." "A lot of investors are just looking somewhere else right now," said Gobert. However, Talisman has been under intense public pressure - particularly in the United States - from human rights and anti-slavery groups who are incensed at reports that civilians have been displaced, enslaved or even killed to clear the way for the company's oil operations in the Sudan's Greater Nile Region. Three weeks ago, a United Nations report indicated the Sudanese government had used scorched earth policies to clear a 100-kilometre zone around the oilfields. Talisman officials were unavailable for comment Thursday. calgaryherald.com