Talisman Energy Exploration Success in Buchan Field Area

Talisman Energy (UK) Limited, a wholly owned subsidiary of Talisman Energy Inc. has made a new oil discovery in the UK Outer Moray Firth adjacent to the Buchan and Tweedsmuir Fields. The discovery was made in Block 20/5a where Talisman has a 94.43% equity interest with First Oil Expro Ltd. holding the remaining 5.57%.

The 20/5a-10y well successfully tested an exploration prospect about three kilometres north of the Talisman operated Buchan Field and 12 kilometres southwest of the Tweedsmuir South Field where Talisman also holds a 94.43% equity interest. The well was drilled by the Ocean Nomad semi-submersible rig and discovered oil bearing sandstones of Upper Jurassic age.

The well encountered two separate Jurassic sandstone reservoirs and upon testing flowed at a combined rate of 11,000 bbls/d of 39 degree API oil.

Further studies are required before volumes are finalized. The discovery will be evaluated using newly acquired 3D seismic data with a view to evaluating commerciality and possible development options.

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Posted 30/10/06

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