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To: The Fix who wrote (57772)	1/3/2000 12:36:00 PM
From: Razorbak	Read Replies (1) \| Respond to of 95453

Talisman (TLM) Valuation Factors fIXER: Fortunately, Talisman is a Canadian company, so U.S. State Department sanctions aren't very relevant. <g> When the Canadian government decides to apply sanctions or punish Talisman, then we can re-visit the situation. ;-) IMO, the political human rights issue is the only reason why there is a decent buying opportunity here. The Sudan concession alone is worth over C$10/share, and that's been completely discounted by the market. Talisman is being valued at a level that assumes they don't receive any benefit from Sudanese cash flow, which is quite significant (i.e., US$150 MM net cash flow from Sudan in 2000, according to my own calculations). In fact, total cash flow and earnings in 3Q were both records for Talisman. biz.yahoo.com ANALysts in the patch Be careful how you use that term. Some of us former ANALysts might get upset. ;-) LOL! Just kidding, of course. <g> Actually, it is because of my detailed valuation of the old Arakis concession in Sudan as an ANALyst at Murphy Oil that I feel very comfortable with this pick. Occasionally I still fire up my old, 5-page, Excel spreadsheet model just to re-confirm some of the numbers in my original analysis. Razor