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

To: Tomas who wrote (1262)	7/22/2001 8:18:20 PM
From: Tomas	Read Replies (3) \| Respond to of 1713

Talisman, one of Canada's biggest oil-and-gas companies, just acquired Lundin Oil's producing properties and exploration assets in the North Sea, Malaysia, Vietnam and Papua New Guinea at a cost of $344 million U.S. It has also announced it will sell its politically sensitive holdings in Sudan. Nick Rontogiannis of TD Newcrest welcomed the purchase of Lundin because it showed Talisman can put together high-quality deals better than any of its Canadians peers, and it opens the way for the company to exit from Sudan. "We estimate Talisman's stock is discounted by $10 to $12 a share because of its involvement in Sudan," he said. "In terms of timing, we believe if investors refrain from purchasing the stock until such time as Sudan is sold, they would likely miss much of Talisman's initial upside move as positive reaction to a Sudanese sale would be immediate." Mr. Rontogiannis rates Talisman a "buy" with a target price of $83, well above the stock's Friday close of $55.40 on the Toronto Stock Exchange. "It is not hard to be positive about the prospect for Talisman's shares upon a potential sale of Sudan," said Terry Peters, an analyst for HSBC Securities, who also rates Talisman as a "buy." "In addition, the potential of Malaysia is equally significant in creating a new core area for the company," said Mr. Peters, whose target price for the stock is $80. The Montreal Gazette, July 22