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To: Johnny Canuck who wrote (43118)	3/1/2006 11:44:28 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69144

Talisman Energy Q4 earnings surge Last Updated Wed, 01 Mar 2006 09:56:44 EST CBC News Talisman Energy's rode higher prices for oil and gas to a huge increase in its fourth-quarter earnings, the company reported Wednesday. "2005 was a great year," said Jim Buckee, president and CEO of the Calgary company. 3-month trading "Oil and gas prices were up approximately 40 per cent last year; I continue to believe that we remain in a higher oil price environment," he said. The company (TSX:TLM) said it made a record $533 million ($1.45 a share), up from $121 million (32 cents a share) in the same quarter a year earlier. Talisman's fourth-quarter cash flow surged to $1.47 billion from $679 million. For 2005, the company made $1.56 billion, an increase of 139 per cent from the $654 million posted in 2004. Buckee said Talisman increased its production per share by 11 per cent in 2005 and replaced 189 per cent of production with high-quality reserves. He said the company replaced 162 per cent of its North Sea liquids production and 117 per cent of its North America natural gas production. Talisman also said it is planning a three-for-one stock split. Shareholder approval for the split will be sought at the company's annual meeting May 9 in Calgary.