Talisman to sell North Sea assets

Offshore staff

CALGARY, Canada -- A wholly-owned subsidiary of Talisman Energy has entered into an agreement with Total Holdings Nederland B.V. to sell Talisman's entire non-operated interests in the Dutch sector of the North Sea for $480 million.

The interests in the Dutch sector of the North Sea include 10.25% of the K4b/K5a license; 20.273% of the K5b license; and 8% of the E18a license.

In 2007, Talisman's production from the fields averaged approximately 23 MMcfe/d, with year end proved reserves of approximately 43 bcfe.

09/03/2008