Talisman Announces New North Sea Oil Discovery
CALGARY, Alberta – September 7, 2000 – Talisman Energy (UK) Limited, a wholly owned subsidiary of Talisman Energy Inc., today announced a new oil discovery in the North Sea adjacent to the Talisman operated Clyde field.
The North Leven exploration prospect, located five kilometres to the northwest of the Clyde field, was tested by the 30/17b-A32 extended reach well drilled from the Clyde platform. The well tested at a maximum rate of 12,080 bbls/d of 39 degree API oil from good quality Upper Jurassic Fulmar sands. The well is currently producing 10,000 bbls/d through the Clyde field facilities.
"This excellent result is another example of the success of Talisman's strategy in the North Sea. Focussed exploration in our core operated areas around our existing infrastructure allows us to add reserves at very low finding and development costs and to bring these reserves into production quickly," said Dr. Jim W. Buckee, President and Chief Executive Officer.
The North Leven well is estimated to have added 4 mmbbls of reserves and an additional 4 mmbbls of reserves may be achieved with further development drilling.
Talisman holds an 81.5% interest in the new discovery, with the remaining 18.5% interest held by Esso Exploration and Production UK Limited. These interests are the same as in the Clyde field.
Talisman Energy Inc. is the largest independent Canadian oil and gas producer. The Company has operations in Canada, the North Sea, Indonesia and Sudan. Talisman is also conducting exploration in Algeria and Trinidad. Talisman's shares are listed on The Toronto Stock Exchange in Canada and the New York Stock Exchange in the United States under the symbol TLM. For further information, please contact:
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