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Talisman Energy, Inc. Message Board

  • oilmetinman oilmetinman Nov 7, 2008 2:00 PM Flag

    buyout ?

    Arab buyout

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    • Talisman: No Deal In Works With CNOOC
      By Canadian Press
      09 Sep 2008 at 11:13 AM GMT-04:00

      There is no deal in the works between Talisman Energy Inc. (TLM) and a Chinese state-owned oil company to combine billions in Southeast Asian assets and sell the new entity's stock in Hong Kong, a Talisman spokesman said Monday.

      CALGARY (CP) -- A report in the South China Morning Post quoted unnamed sources as saying the tie-up would see the Calgary-based producer and China National Offshore Oil Corp. contribute assets worth up to $10 billion to the new company.
      Those shares would attract a higher value on an Asian exchange than in Toronto or New York, where Talisman currently trades, the "market source" told the English-language newspaper.

      But Talisman spokesman David Mann said there is no basis whatsoever behind the article.

      "The simple fact is we have had no discussions with CNOOC," he said.

      The Morning Post report Monday was the second this year to use unidentified sources to link Talisman and CNOOC.

      In May, the newspaper said Talisman was in talks with CNOOC over a possible takeover or asset sale, which the Canadian company dismissed as a rumour.

      Talisman laid out a new strategy earlier this year that involves selling up to $C3 billion in non-core assets in order to focus on a few key areas, one of which is Southeast Asia.

      "Our strategy is to grow our Southeast Asia assets and we're quite enthusiastic, particularly about the exploration potential in Vietnam," Mann said.

      The other areas Talisman plans to zero in on are North American natural gas and the U.K. North Sea.

      Talisman shares were down 20 cents to $16.85 on the Toronto Stock Exchange on Monday.

      © Canadian Press

    • are you still trying to sell, how much you got?

      • 1 Reply to popravsie
      • At some point at some price yes. I think the market and oil will have shown its at a bottom when a big oil picks up a larger company like tlm. At some point in time they will determine buying tlm and its barrels in the ground will be cheaper than exploration, of course they will factor in exploration risk/reward and that prospect for tlm as well. Still tlm will have to be pretty cheap for a big oil to abandon some exploration capital to pick it up. Of all the industries that have trouble doing acquisitions due to credit crisis the big oils are hurt the least. so maybe a buy out, but at what price and when? There may be better deals out there as well. interesting to watch.

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