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

To: Todd R. Levine who wrote (64)	10/28/2008 12:20:08 PM
From: Jim P.	Read Replies (1) \| Respond to of 82

Todd, Going from memory about 1/3 of production is Canadian so yes a benefit to the company if Canadian dollar goes down but oil does not. I think the company is well (conservatively) managed. What they have that would be hard to recreate is a large land position Canada, U.S, North Sea with a lot of potential reserves. This year they were planning on spending (from memory) 1.5 billion $ on turning their unconventional reserves into producing reserves. The company is also increasing the amount of true exploration as a portion of their risk capital to mitigate the short reserve life. This decline rate is a problem for all the companies that have older deep water fields. If this turns out to be just a very bad recession then 2 to 3 years out oil and natural gas reserves will be worth a lot more money. My cost basis is over $15.. I should have taken some money off the table with this summers run up. The long term trend in energy use and availability will turn this stock around. I am not as confident on other areas of the market. Do yourself a favor and listen to the conference call that is coming up. Even a few weeks later is fine. It is a great source of not just the numbers but of how professional the team is and how they compare to others in the industry. Jim