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Talisman Energy Inc. Message Board

banana_split_52 3 posts  |  Last Activity: 44 minutes ago Member since: Aug 12, 2011
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    76 million shares.

    by gordon939 6 hours ago
    banana_split_52 banana_split_52 49 minutes ago Flag

    As part of the sale of its 49% sales to Sinopec for $1.5B and offloading 50% of the abandonment liabilities (50% of $3B, undiscounted) in late 2012, TLM agreed to invest $1.9B from 2013 to 2016 to upgrade the existing North Sea UK facilities and expand on infill opportunities particularly its Montrose project (~$800M). It has probably has spent about 1/2 the $1.9B so far. Montrose is supposed to come on line in 2016. The free cash flow from the SE Asian operations is going to fund much of the UK work, which does not generate the necessary cash flow to fully fund the capex in the UK. After this big spend is completed, cash flow can be diverted to higher value projects with better returns, pay down debt and/or buy back stock.

  • banana_split_52 banana_split_52 Aug 26, 2014 8:33 PM Flag

    Look closer at the SEC filings, Ichan's basis is closer to $12.50 per share. Ichan acquired most of his stake (all common stock, not preferred stock) mostly through deep in the money call options, but also purchased about 4M shares of the position directly buying stock. He has a standstill agreement with TLM, which allowed two of his appointees to the board. He can't raise his stake and agreed to support the nominees to the board back in May. I believe this standstill runs for about 1 year.

  • banana_split_52 by banana_split_52 44 minutes ago Flag

    On the big losses related to the YME project, does anyone know if those losses can be used to offset taxes owed on TLM's other Norway production?

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