To date, Talisman has purchased 31,794,400 common shares under the current NCIB, representing approximately 2.9 percent of the public float on March 22, 2006, at an average price of $18.56 per common share. Taking into account planned purchases to the end of 2006 and limitations on the number of shares Talisman is permitted to purchase in any 30 day period thereafter, Talisman could purchase up to approximately 66,398,000 additional common shares through to the expiry of the NCIB on March 27, 2007. Talisman intends to renew its NCIB upon expiry.
Talisman may purchase common shares under the NCIB through the facilities of both the TSX and the New York Stock Exchange (NYSE). The Company has received an order from the applicable Canadian securities regulators to allow it to make purchases through the facilities of the NYSE within the TSX limits for the NCIB.
Talisman's primary objective is to increase shareholder value by delivering growth in reserves and production volumes per share. While successful exploration and development are the best value generators in the upstream oil and gas business, Talisman also advances this objective through the purchase of its own shares.
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 North Sea, Southeast Asia, Australia, North Africa, the United States and Trinidad and Tobago.
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