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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Arnie who wrote (8468)	1/14/1998 1:12:00 AM
From: Kerm Yerman	Respond to of 15196

FIELD ACTIVITIES TOP 21 LISTED / Talisman Energy North Sea Discovery Flows 40 mmcf/d TALISMAN GAS DISCOVERY FLOWS 40 MMCF/D ON NEWLY ACQUIRED NORTH SEA PROPERTY CALGARY, Jan. 12 /CNW/ - Talisman Energy Inc., through its wholly-owned subsidiaries Talisman North Sea Limited and Transworld Petroleum (U.K.) Limited, today announced a hydrocarbon discovery on the recently acquired 14/26a property. The 14/26-a-6 well tested at over 40 mmcf/d at a flowing tubing head pressure of approximately 1,800 psi. Flow rates were limited by surface facilities. The operator plans to suspend the well in preparation for field appraisal and development activity, an appraisal well will be drilled as soon as practical in 1998. ''Further work is required to quantify this find, but the well is expected to be a significant addition to a number of discoveries in the area,'' said Dr. J. W. Buckee, President and Chief Executive Officer. ''It also provides encouragement for our upcoming well on the adjacent block, which is on trend with both this discovery and our existing Cromarty discovery.'' On December 2, 1997, Talisman announced that it had acquired a 25% interest in the partial block in an asset exchange with ARCO British Limited. ARCO hold the remaining 75% interest and operate the 14/26a licence. The 14/26a licence is adjacent to Talisman's 13/30a block (Talisman 55% and operator) which contains the Cromarty gas discovery acquired with the Ross field in 1996. Talisman plans to drill a well on Block 13/30 during 1998 to assess the upside exploration potential. Talisman Energy Inc. is a Canadian-based international upstream oil and gas producer with operations in Canada, the North Sea and Indonesia. The Company also conducts exploration in Algeria, Trinidad and Peru. Talisman (TLM) is listed on the Toronto, Montreal and Vancouver stock exchanges in Canada and on the New York Stock Exchange in the United States.