2009-08-16-2008-10-01

To buy nonoperated interests in Dutch sector including 10.25% of K4b/K5a license, 20.273% of K5b license, 8% of E18a license, gaining 23 MMcfe/d, 43 Bcfe proved.

The Netherlands-based Total Holdings Nederland BV plans to acquire nonoperated interests in the Dutch sector of the North Sea from a subsidiary of Talisman Energy Inc., Calgary, (NYSE; Toronto: TLM) for US$480 million. The assets include 10.25% of the K4b/K5a license, 20.273% of the K5b license and 8% of the E18a license. Talisman's production from the fields in 2007 averaged approximately 23 million cubic feet equivalent per day. Year-end proved reserves were approximately 43 billion equivalent. Talisman president and chief executive John A. Manzoni says, "We continue to focus Talisman's portfolio in line with our new strategy. With the earlier sale of our Danish assets and now this transaction, the emphasis in the North Sea will be on positioning our U.K. assets as a firm production base and growing our Norwegian business." Talisman operates in Canada as well as the U.K., Norway, Southeast Asia, North Africa and the U.S.