[lbo-talk] Talisman drills prolific offshore Vietnam oil well

uvj at vsnl.com uvj at vsnl.com
Thu Jan 25 12:09:15 PST 2007


Reuters.com

Talisman drills prolific offshore Vietnam oil well http://today.reuters.com/news/articleinvesting.aspx?type=companyNews&storyID=2007-01-17T162002Z_01_N17316173_RTRIDST_0_TALISMAN-VIETNAM.XML

Wed Jan 17, 2007

CALGARY, Alberta, Jan 17 (Reuters) - Talisman Energy Inc. (TLM.TO: Quote, Profile , Research) has drilled a prolific oil exploration well off the Vietnamese coast, giving it confidence for more drilling on the block, the company said on Wednesday.

Talisman, Canada's No. 3 independent oil explorer, said the Hai Su Trang well tested at 14,863 barrels a day after it encountered 170 feet (52 metres) of net pay.

It is located in Block 15-2/01, 50 miles (80 km) off the coast and on trend with several big oil and gas finds in the Cuu Long Basin, the company said. The company has a 60 percent stake in any commercial discoveries on the block and PetroVietnam has the remainder.

The partners are drilling a sidetrack well to determine how much of the Te Giac Trang industry discovery, drilled in 2005, extends into Block 15-2/01, Talisman said.

The company said it plans to drill another three exploration wells in the block this year.

Talisman shares were off 5 Canadian cents at C$18.25 on the Toronto Stock Exchange.

($1=$1.17 Canadian)

© Reuters 2007. All Rights Reserved.



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