Talisman Energy exits GTL project

After participating in Sasol Canada's feasibility study for a GTL (gas-to-liquids) facility, Talisman Energy (TSX:TLM)(NYSE:TLM) has decided not to proceed with the next phase of the project.

"After careful consideration, we have concluded that there are better ways to allocate capital in support of our strategy," said John A. Manzoni, President and Chief Executive Officer. "Talisman's immediate focus is to accelerate investment in near-term liquids opportunities, with the goal of increasing liquids and oil-linked gas production to 300,000 barrels a day by 2015. We wish Sasol every success as they evaluate the next phase of this project, and we look forward to continuing a positive relationship in the joint development of our Montney assets."

Talisman was granted the option to participate in the feasibility study as part of the ongoing partnership between Talisman and Sasol that includes two 50 per cent working interests in two natural gas assets and associated infrastructure in Talisman's Montney shale resources in northeast British Columbia. Talisman's decision to exit the GTL project will not impact the upstream partnership.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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Source: http://feeds.oilvoice.com/~r/OilvoiceHeadlines/~3/P1BBfS4otGg/01d0cef76ce0.aspx

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