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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (15825)	12/14/2002 12:25:29 AM
From: LARRY LARSON	Read Replies (1) \| Respond to of 206089

Hi Jim- Is this NEW technology: News from Reuters Talisman to Boost Output From Historic Oil Field 19:10 EST Friday, December 13, 2002 CALGARY, Alberta (Reuters) - Talisman Energy Inc. , Canada's No. 2 oil explorer and producer, said on Friday it was kicking off a test project to boost output from one of the country's first major oil fields by injecting nitrogen. Talisman and its partners will spend three years testing the enhanced recovery technology at the Turner Valley oil field in southern Alberta at a cost of C$8.5 million ($5.5 million), it said. The field, which has been pumping for 65 years, had original reserves estimated a one billion barrels. It has been producing with the aid of water injection for the last 40 years. Chief executive Jim Buckee said only 15 percent of the oil has been recovered to date, and extracting another 3 percent to 10 percent by injecting nitrogen would equate to production of another 30 million to 100 million barrels, extending the field's life by at least two decades. A successful test could lead to a full-scale development, the company said. Talisman has an average 60 percent stake in the four production units that make up the Turner Valley pool, netting it output of 1,650 barrels a day. Its partners in the unit that will test the nitrogen technology are Computershare Trust Co. of Canada, Enerplus Resources Corp. , Canadian Spooner Resources Inc. and National Petroleum Corp. . ($1=$1.56 Canadian) © 2002 Reuters Limited. All Rights Reserved. Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.