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

To: Tomas who wrote (1161)	3/7/2001 11:16:11 PM
From: Tomas	Respond to of 1713

Talisman Energy Mulls Adopting Common Share Dividend Dow Jones Newswires, March 06 Tamsin Carlisle CALGARY -(Dow Jones)- Talisman Energy (TLM, news) Inc. (TLM) is "very likely" to adopt a regular dividend payment on its common shares, said James W. Buckee, the company's president and chief executive. During a conference call, he said Talisman is deferring its "final statement" on its dividend policy for now, but that he generally favors the idea of a dividend as "an incremental way to return value to shareholders." In addition, Buckee said, Talisman's decision on whether to introduce a common share dividend must take into account the practices of a number of investment funds that limit their share holdings to dividend-bearing issues. Buckee said during the conference call that he expects Talisman to generate cash flow of at least C$20 a share in 2001, based on average commodity prices of US$26 a barrel for West Texas Intermediate crude oil and US$5 a thousand cubic feet for natural gas on the New York Mercantile Exchange. He predicted that Talisman's debt to cash flow ratio will fall below 0.5:1 by the end of this year. Talisman is considering making further acquisitions of oil and natural gas properties this year, primarily in the North Sea and Canada, Buckee said. He estimated the total value of such acquisitions at "a few hundred million dollars." On the international front, Buckee said "it is now apparent" that Talisman and Gulf Canada Resources Ltd (GOU, news). (GOU) have made a "massive gas discovery" at Suban, Indonesia. He also said that Talisman expects to start producing about 20,000 barrels a day of crude oil from Algeria in 2003, and that its Sudan operations " continue to surpass expectations."