Talisman Energy Announces Successful Test at Kurdamir-2 Well
26 March 2012 - 11:30PM
Marketwired
Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) has confirmed the
presence of light oil at the Kurdamir-2 well in the Kurdistan
Region of northern Iraq.
"This is an exciting development in our understanding of this
play," said Richard Herbert, Executive Vice-President of
International Exploration. "We have tested only a portion of an
upper zone, but we have clear indications that there is oil here,
in addition to natural gas and gas condensate. We are now drilling
into the deeper objectives and will conduct more extensive testing,
including stimulation, over the summer."
The well flowed at unstimulated rates of 7.3 mmcf/d of natural
gas and 950 bbls/d of oil and condensate, with no indications of
water and no observed decline. This open hole drillstem test was
conducted only over the upper 55 metres of the Oligocene reservoir.
A total of 140 metres of gross reservoir (88 metres net) was
identified through wireline logging.
The Kurdamir-2 well is a re-drill of the Kurdamir-1
gas/condensate discovery well, two kilometres away, that was
drilled in 2009 but not completed.
Talisman is operator of the Kurdamir Block, with a 40% working
interest. Joint venture participants include WesternZagros, with a
40% working interest, and the Kurdistan Regional Government (KRG),
with a 20% carried interest.
Talisman Energy Inc. is a global, diversified, upstream oil and
gas company, headquartered in Canada. Talisman's three main
operating areas are North America, the North Sea and Southeast
Asia. The company also has a portfolio of international exploration
opportunities. Talisman is committed to conducting business safely,
in a socially and environmentally responsible manner, and is
included in the Dow Jones Sustainability (North America) Index.
Talisman is listed on the Toronto and New York stock exchanges
under the symbol TLM. Please visit our website at
www.talisman-energy.com.
Advisories
This news 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 strategy,
priorities and plans; planned testing and stimulation in the
Kurdistan Region of northern Iraq; and other expectations, beliefs,
plans, goals, objectives, assumptions, information and statements
about possible future events, conditions, results of operations or
performance. The factors or assumptions on which the
forward-looking information is based include: assumptions inherent
in current guidance; projected capital investment levels; the
flexibility of capital spending plans and the associated sources of
funding; the successful and timely implementation of capital
projects; the continuation of tax, royalty and regulatory regimes;
ability to obtain regulatory and partner approval; commodity price
and cost assumptions; and other risks and uncertainties described
in the filings made by the company with securities regulatory
authorities. The company believes the material factors,
expectations and assumptions reflected in the forward-looking
information are reasonable but no assurance can be given that these
factors, expectations and assumptions will prove to be correct.
Undue reliance should not be placed on forward-looking
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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
news release. The material risk factors include, but are not
limited to: the risks of the oil and gas industry, such as
operational risks in exploring for, developing and producing crude
oil and natural gas; risks and uncertainties involving geology of
oil and gas deposits; the uncertainty of reserves and resources
estimates and underlying reservoir risk; the uncertainty of
estimates and projections relating to production, costs and
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use of the word "gross" in this news release means a 100% interest
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Contacts: Talisman Energy Inc. - Media and General Inquiries
David Mann Vice-President, Corporate & Investor Communications
403-237-1196 403-237-1210 (FAX)tlm@talisman-energy.com Talisman
Energy Inc. - Shareholder and Investor Inquiries Lyle McLeod
Vice-President, Investor Relations 403-237-1020 403-237-1902
(FAX)tlm@talisman-energy.com www.talisman-energy.com
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