Talisman Signs Petroleum Contract for Block 15-2/01 Offshore Vietnam.CALGARY, Alberta -- Talisman (Vietnam 15-2/01) Ltd., a wholly-owned subsidiary of Talisman Energy Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :TLM) (NYSE NYSE See: New York Stock Exchange :TLM), and PetroVietnam Exploration and Production Company, a subsidiary of Vietnam Oil and Gas Corporation, the national oil company of Vietnam, have signed a Petroleum Contract for Block 15-2/01 offshore Vietnam. Talisman (Vietnam 15-2/01) Ltd. has a 60% interest in Block 15-2/01, with PetroVietnam holding the remaining 40%. "We are excited about the exploration potential of the area," said Dr. Jim Buckee, President and Chief Executive Officer of Talisman Energy Inc. "Block 15-2/01 is located in the centre of the most prolific oil producing region of Vietnam and offers significant exploration opportunities, which, if economic, can be developed quickly. The award of Block 15-2/01 represents a key step in our strategy to grow our Vietnamese business." Block 15-2/01 has an area of 700,000 acres and is located approximately 20 kilometres offshore from the city of Vung Tau in southern Vietnam in 25 to 50 metres of water. The block is situated in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of the highly prospective Cuu Long Basin adjacent to a number of significant producing oil fields. The consortium's commitment on Block 15-2/01 includes conducting a 3D seismic survey and a two well exploratory drilling program during the initial three-year exploration phase. A Joint Operating Company will conduct operations on the block, with key staff being provided by both consortium members. Talisman Energy Inc. is a large, independent oil and gas producer, with operations in Canada and, through its subsidiaries, the North Sea, Indonesia, Malaysia, Vietnam, Algeria, the United States and Trinidad and Tobago Trinidad and Tobago (trĭn`ĭdăd, təbā`gō), officially Republic of Trinidad and Tobago, republic (2005 est. pop. 1,088,000), 1,980 sq mi (5,129 sq km), West Indies. The capital is Port of Spain. . Talisman's subsidiaries also conduct business in Colombia, Qatar and Peru. Talisman has adopted the International Code of Ethics Code of Ethics can refer to:
Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. in Canada and New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. in the United States under the symbol TLM. Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) |
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