Talisman Brings 3,000b/d Development Well Online in Trinidad

Canada's Talisman Energy (NYSE: TLM) brought online a development well in Trinidad & Tobago at rates of 3,000b/d in the second quarter this year, CEO Jim Buckee said in a webcast.

Talisman's 2Q07 oil and liquids output in Trinidad & Tobago averaged 7,150b/d, down 7% from the year-ago ago period. The company attributed the drop "mainly to natural declines."

Revenue in the 1H07 from the Caribbean nation fell 55.2% to Cdn$60mn (US$57mn) compared to 1H06.

Talisman in the first three months of this year spent US$21mn on exploration and US$12mn on development in Trinidad & Tobago.

Pre-development planning also continued in the second quarter for the Angostura phase 2 gas development project, Buckee said.

A heads of agreement was signed earlier this year with Trinidad & Tobago's National Gas Company to sell gas at initial rates of 220Mf3/d (6.23Mm3/d) starting in 2010.

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