Scandinavia a Shing Star in Talisman's Q1 Production

Talisman Energy reported that production in Scandinavia averaged 36,572 boe/d during the quarter, up 7% over the first quarter of 2007 and 7% from the previous quarter. Production from continuing operations averaged 34,429 boe/d, up 10% from the same period in 2007 and 8% from the fourth quarter of 2007. The production increase over 2007 was due to new production from Blane, which came onstream in the third quarter of 2007, plus good performance from successful development wells drilled at Gyda and Brage.

Unit operating costs remained relatively unchanged at $22.25/boe compared to 2007, as increases in production were matched by minor increases in costs.

Development of the Rev Field is continuing on schedule, with first production expected mid-2008. Construction at the Yme field redevelopment project continues and first oil is scheduled for the second half of 2009.

In late April, Talisman entered into an agreement to sell its interests in the Siri field in the Danish sector of the North Sea for US$83 million. Talisman's production from the Siri field for 2007 averaged approximately 2,600 boe/d.