"These drilling results demonstrate our successful deep gas strategy in North America," said Dr. Jim Buckee, President and Chief Executive Officer. "We are looking for big wells and we continue to find them."
In the Monkman area of northeastern BC, Talisman has made two new Triassic discoveries. The first well (50% Talisman) tested at a gross raw rate of 26 mmcf/d and is a follow-up to a new pool discovery. This well is expected to be on production by the fourth quarter of 2006. A second well (44% Talisman) tested at 16 mmcf/d (gross, raw) and will be tied in to Talisman operated facilities early in 2006. Talisman is currently drilling or evaluating five more wells in Monkman, with results expected by the end of the first quarter of 2006.
In the Central Foothills of Alberta, Talisman tied-in two Mississippian wells at Cordel (100% Talisman) which are producing at 3.1 and 3.5 mmcf/d sales gas respectively. A third well at Bighorn (75% Talisman) tested at a gross raw rate of 12 mmcf/d and will be tied-in during the first quarter of 2006. Talisman plans to drill 35 gross wells in the Alberta Foothills in 2006 with approximately one third in the Central Foothills, a mainstay of high impact wells for Talisman since the 1990s. The majority of wells in the 2006 program will be in the Northern Alberta Foothills in the Narraway, Palliser and Grande Cache areas. The Company recently tested a Triassic well at Narraway (50% Talisman) at a gross raw rate of 8 mmcf/d; it will be tied-in later in 2006.
Talisman currently has over 60 mmcf/d of sales gas behind pipe in the Canadian foothills. Numerous projects are underway to ensure these volumes are onstream in 2006, including the previously announced Lynx and Palliser Pipelines.
In the Deep Basin area of Alberta, Talisman has drilled and tied-in a successful exploration well at Kakwa (100% Talisman). This well is currently producing 10 mmcf/d sales gas. The gas is being processed at the Talisman operated Cutbank Complex.
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