Talisman Energy Inc. (TSX: TLM) (NYSE: TLM) announced a successful
test from the Utica shale in its Gentilly well in Quebec. The
Gentilly well is located on the south side of the St. Lawrence
River, approximately 100 kilometers south of Quebec City. Talisman
holds a 75% interest in the well and is operator.
The well, which is a re-entry to a previously drilled
Trenton-Black River well, flowed at 800 mcf/d from one completed
interval on a sustained basis during the 18-day test period. At the
time of shut in, the well was still cleaning up and pressures and
flow rates were constant.
"We are encouraged by the initial results of this vertical
well," said John A. Manzoni, President and Chief Executive Officer.
"We have additional testing to do on the well, including zones
within the Basal Lorraine and Lorraine shale formation, but this is
a very promising start to our unconventional program in
Quebec."
The Lorraine shale sits on top of the Utica and can be up to
6,500 feet thick. The Utica shale ranges between 300 and 1,000
feet. Early indications show that both the Lorraine and Utica rocks
are thick, porous and appear brittle and over pressured, all of
which are conducive to artificial fracture stimulation.
Talisman has an extensive land position with an option to earn
760,000 net acres through drilling in Quebec. The Company is in the
early stage of evaluating the rock properties and reservoirs.
Talisman will test three to four pilot areas over the next 18
months, with up to four additional wells planned prior to
year-end.
Talisman Energy Inc. is an independent upstream oil and gas
company headquartered in Calgary, Alberta, Canada. Talisman has
operations in Canada and its subsidiaries operate in the UK,
Norway, Southeast Asia, North Africa and the United States.
Talisman's subsidiaries are also active in a number of other
international areas. Talisman is committed to conducting its
business in an ethically, socially and environmentally responsible
manner. The Company is a participant in the United Nations Global
Compact and included in the Dow Jones Sustainability (North
America) Index. Talisman's shares are listed on the Toronto Stock
Exchange in Canada and the New York Stock Exchange in the United
States under the symbol TLM.
Forward-Looking Information
This press release contains information that constitutes
"forward-looking information" or "forward-looking statements"
(collectively "forward-looking information") within the meaning of
applicable securities legislation. This forward-looking information
includes, among others, statements regarding:
- business plans for drilling, exploration, development and
estimated timing;
- business strategy and plans; and
- other expectations, beliefs, plans, goals, objectives,
assumptions, information and statements about possible future
events, conditions, results of operations or performance.
Often, but not always, forward-looking information uses words or
phrases such as: "expects", "does not expect" or "is expected",
"anticipates" or "does not anticipate", "plans" or "planned",
"estimates" or "estimated", "projects" or "projected", "forecasts"
or "forecasted", "believes", "intends", "likely", "possible",
"probable", "scheduled", "positioned", "goal", "objective" or
states that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Various assumptions were used in drawing the conclusions or
making the forecasts and projections contained in the
forward-looking information contained in this press release.
Information regarding business plans for drilling, exploration,
development and appraisal assumes that the extraction of crude oil,
natural gas and natural gas liquids remains economic.
Undue reliance should not be placed on forward-looking
information. Forward-looking information is based on current
expectations, estimates and projections that involve a number of
risks which could cause actual results to vary and in some
instances to differ materially from those anticipated by Talisman
and described in the forward-looking information contained in this
press release. The material risk factors include, but are not
limited to:
- risks and uncertainties involving geology of oil and gas
deposits;
- potential delays or changes in plans with respect to
exploration or development projects or capital expenditures;
and
- the risks of the oil and gas industry such as operational
risks in exploration for, developing and producing crude oil and
natural gas.
The foregoing list of risk factors is not exhaustive. Additional
information on these and other factors which could affect the
Company's operations or financial results are included in the
Company's most recent Annual Information Form and Annual Financial
Report. In addition, information is available in the Company's
other reports on file with Canadian securities regulatory
authorities and the United States Securities and Exchange
Commission (SEC).
Forward-looking information is based on the estimates and
opinions of the Company's management at the time the information is
presented. The Company assumes no obligation to update
forward-looking information should circumstances or management's
estimates or opinions change, except as required by law.
Contacts: Talisman Energy Inc. - Media and General Inquiries
David Mann, Senior Manager, Corporate & Investor Communications
(403) 237-1196 (403) 237-1210 (FAX) Email: tlm@talisman-energy.com
Website: www.talisman-energy.com Talisman Energy Inc. - Shareholder
and Investor Inquiries Christopher J. LeGallais, Senior Manager,
Investor Relations (403) 237-1957 (403) 237-1210 (FAX) Email:
tlm@talisman-energy.com Website: www.talisman-energy.com
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