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TALISMAN RAISES OFFER FOR ENCOR

 CALGARY, Alberta, May 19 /PRNewswire/ -- The Talisman Energy Inc. board of directors announced this morning it is raising its offer for the common shares of Encor Inc.
 Talisman Energy is offering to exchange one common share of Talisman for 30 common shares of Encor. The previous offer was one Talisman common share for 45 Encor common shares.
 The increased offer has been presented to the Encor board which has unanimously recommended it to the common shareholders. The board had previously recommended the earlier offer.
 As part of the enhanced offer, BCE Inc. agreed to reduce by 1.2 million the number of Talisman common shares it is to receive for its 29.9 million Encor convertible preferred shares. BCE holds all of Encor's preferred shares and 18.6 percent of its common shares. BCE's holding in Talisman, following completion of the deal, would be reduced to 16.5 percent from the 18.0 percent it would have held under the previous offer.
 "The new ratio increases the number of Talisman shares being offered for all of the Encor equity to 15.2 million shares from 14.6 million. The total number of Talisman shares outstanding after completion of the deal would be 65.7 million, up from 65.1 million as previously proposed," said Dr. Jim Buckee, president and chief executive officer of Talisman Energy.
 The Encor 8.50 percent convertible subordinated debentures will be exchangeable into 11.900 Talisman common shares per $1,000 of convertible debentures. The previous exchange ratio was 7.933 Talisman common shares per $1,000 of convertible debentures.
 The offer is subject to the approval of the majority of votes cast by the Encor minority common shareholders, and, in addition, the approval by two-thirds of the votes cast by all Encor common shareholders. The offer must also be approved by the Alberta Court of Queen's Bench.
 -0- 5/19/93
 /CONTACT: Ruth Ann Yardley, manager of public affairs, 403-237-1362, or Wayne Bobye, VP-Finance and CFO, 403-237-1363, both of Talisman Energy/
 (TLM.)


CO: Talisman Energy Inc. ST: Alberta IN: OIL SU: TNM

MS -- LA024 -- 0369 05/19/93 14:40 EDT
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Publication:PR Newswire
Date:May 19, 1993
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