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TALISMAN REPORTS PROFITABLE QUARTER

 CALGARY, Alberta, April 19 /PRNewswire/ -- Talisman Energy Inc. achieved record daily gas production in the first quarter of 1993, contributing to a profit of $7.9 million ($.16 per share) four times that in the first quarter of 1992 when profit was $2.0 million ($0.04 per share).
 The firming of natural gas spot prices and a favorable exchange rate, which had an impact on oil and natural gas liquids prices, were major components in the increased profit.
 Natural gas volumes grew 12.7 percent to 240 million cubic feet of gas per day from 213 million cubic feet per day in the first quarter of 1992. The average wellhead price rose to $1.61 per thousand cubic feet from $1.42 in quarter one of the previous year. Natural gas production from the Monkman area of northeastern British Columbia grew to 85 million cubic feet per day in the first quarter of 1993 from 77 million cubic feet in the same period the year before. Gas volumes in Alberta were also up strongly, particularly in the Peace River Arch area, because of the expansion of the Gordondale gas plant, increased demand from aggregators and an increased working interest at Medicine Lodge.
 Crude oil and natural gas liquids production decreased four percent in the first quarter to 16,165 barrels per day from 16,863 barrels per day in the first quarter of 1992. However oil volumes were up 1.6 percent to 13,700 barrels per day from 13,486 barrels per day. The average price in the first quarter for crude oil and natural gas liquids was $17.70 per barrel up from $14.55 in 1992. The oil price was $18.06, up from $15.68 in the first quarter of 1992.
 Funds provided by operating activities were $32.0 million ($.64 per share) in the first quarter, up by 55.5 percent over the same period in the previous year when they were $20.6 million ($.41).
 The company is continuing to hold the line on operating costs and general and administrative expenses, both of which are down year over year.
 Quarterly capital expenditures were $45.9 million, up from $12.5 million from the first quarter of 1992. Included in this year's figure is $12.4 million for the acquisition of an increased working interest in Medicine Lodge and $13.7 for foreign operations. Under the terms of the Cuba joint venture, Talisman's subsidiary, Fortuna Petroleum Inc., has now earned its interest and its share of future capial expenditures will decline.
 "In spite of the heavy capital expenditures we made in the first quarter, Talisman has no long-term debt," said Wayne Bobye, vice president, finance and chief financial officer. "We expect to spend more than $100 million in capital during the year and will do that well within our funds flow. With or without the proposed Encor acquisition, Talisman will exhibit strong funds growth and an excellent balance sheet."
 TALISMAN ENERGY INC.
 Financial and Operational Highlights
 For the Three Months Ended March 31,
 (Thousands of dollars unless otherwise stated)
 1993 1992
 (Restated)
 Financial
 Net income 7,869 1,970
 Funds provided by operating
 activities 32,004 20,579
 Capital and exploration 45,949 12,527
 Long-term debt --- 184,846
 Per common share (dollars)
 Net income 0.16 0.04
 Funds provided by operating
 activities 0.64 0.41
 Operational
 Oil & gas production (gross per day)
 Crude oil (barrels) 13,700 13,486
 Natural gas liquids (barrels 2,465 3,377
 Crude oil and natural gas
 liquids (barrels) 16,165 16,863
 Natural gas (millions of cubic
 feet) 240 213
 Average unit prices
 (Canadian dollars)
 Crude oil (per barrel) 18.06 15.68
 Natural gas liquids (per barrel) 15.66 10.08
 Crude oil and natural gas
 liquids (per barrel) 17.70 14.55
 Natural gas (per thousand
 cubic feet) 1.61 1.42
 TALISMAN ENERGY INC.
 Consolidated Statements of Income
 For the Three Months Ended March 31,
 (Thousands of dollars)
 1993 1992
 (Restated)
 Revenue
 Crude oil and natural gas $62,657 $53,536
 Less royalties 11,039 7,357
 Net sales 51,618 46,179
 Investment income 493 1,380
 Total revenue 52,111 47,559
 Expenses
 Operating 13,229 16,281
 General and administrative 5,443 8,219
 Depreciation, depletion and
 amortization 13,860 13,577
 Dry hole costs 1,201 1,621
 Exploration 5,000 2,586
 Interest on long-term debt 116 4,063
 Other 854 (2,067)
 Total expenses 39,703 44,280
 Income before income taxes 12,408 3,279
 Income taxes (recovery)
 Current (226) (238)
 Deferred 4,765 1,547
 Total 4,539 1,309
 Net income $7,869 $1,970
 The 1992 figures reflect certain reclassifications to conform to the presentation adopted in 1993.
 -0- 4/19/93
 /CONTACT: Ruth Ann Yardley, manager, Public Affairs, 403-237-1362, or Wayne Bobye, VP, Finance and CFO, 403-237-1363, both of Talisman/
 (TLM.)


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

JB -- LA015 -- 7454 04/19/93 13:23 EDT
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Date:Apr 19, 1993
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