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

To: Tomas who wrote (876)	5/5/2000 7:31:00 PM
From: Tomas	Respond to of 1713

Talisman Unfazed By Sudan Protests: Annual Meeting Financial Post, May 4 CALGARY - Jim Buckee, chief executive of Talisman Energy Inc., said yesterday that his firm remains committed to its controversial project in Sudan, even as protesters outside the company's annual meeting voiced their continuing disapproval. Mr. Buckee, president and chief executive, spent most of his time during the 2 1/2-hour meeting fielding questions from shareholders and reporters about the company's 25% stake in an oil development in Sudan, a project that accounts for only 10% of its production but about 90% of the public's attention. "We're not getting recognition for the things we do," he said after the gathering. "People who say we should get out will certainly not help the people of Sudan. We think, directionally, our presence helps. If we withdraw ... it will be taken up by somebody else who, I promise you, cares less than we do." The meeting of several hundred shareholders went smoothly despite the efforts of a smaller-than-expected group of demonstrators outside the hotel where the meeting was held. "We've given them two years to be in there to demonstrate whether they can make a difference for good," said Mel Middleton, a protester. "But the situation since they've gone in is much worse. There are more people today being displaced. There are more people suffering." The protesters cried "Shame on Talisman," carried placards and handed out leaflets, but earlier fears of mayhem did not materialize. Security was tight, evidenced by uniformed and plainclothes police outside and inside the hotel. Critics claim oil revenues are helping to fund the government in its bitter 17-year civil war with southern rebels. Shareholders rejected by 76% a proposal by 15 institutional investors, many with religious affiliations, that would have Talisman compile and publish within six months a report on its operations in the African country and see if they met internationally accepted standards for human rights. Mr. Buckee said his firm needs more time as it works with academics, non-governmental organizations and others to come up with a way to ensure it adheres to a code of conduct, adopted last December, for Canadian firms working abroad. Shareholders voted 91% in favour of a less-restrictive management proposal that would give it more time to audit its conduct in Sudan. "There is no model for us to use but we intend to become the model and we are actively constructing a framework, a set of actions, ways of measuring compliance, that will meet everybody's satisfaction," the president said. "It's not an easy matter and will take a long time." However, the firm was urged to withdraw immediately from the country. Natalina Yoll told the meeting she experienced first-hand slave raids being carried out in Sudan during which family members were kidnapped, killed and their homes burned to the ground. She pleaded with Talisman to stop its activities. Mr. Buckee is going to China and Malaysia next week to convince partners from those countries to sign a code of conduct such as the one it adopted. He said Sudan's state oil company has already expressed interest in such an agreement.