Talisman three core production areas plus high impact international exploration North sea producing areas exploration areas North America Latin America Southeast Asia North Sea stable production generates free cash flow Shale provides…
Portfolio Strategy Base Free cash flow to invest Growth 5 -10 % sustainable growth Exploration Renewal of the firm North America conventional Fat for a decade at 80 - 90 mboed North America shale Liquids and leading gas plays…
North America leading shale portfolio TLM land Area of Operation Industry full cycle break even montney duvernay eagle ford marcellus utica break-even mcfe eagle ford barnett fayetteville hornriver bossier woodford
Shale running room 2010 contingent resource Net well locations marcellus eagle ford sasol jv contingent resources tcfe well locations 13 10 4 6 3 Opening 57 Purchases improved performance Produced sold expires Closing 46 Wells…
Pennsylvania Key metrics Net acres Net well locations OGIP section bcf Contingent resources tcf West Virginia TLM Land TLM focus area Basin Major Pipelines $ 800 million capital program 2011 expect average 2011 production upper end of…
Marcellus shale Pennsylvania horizontal well type curve mmcf/d Key metrics Net new wells on-stream Average production mmcf/d Horizontal well metrics TLM operated EUR per well 30 day IP per well mmcf/d 2009 2010 2011 assumptions…
Eagle Ford Shale JV land Major Pipeline Sales Pipeline San Antonio Texas Corpus Christi Oil Liquids rich Dry gas Prospective fairway Net acres Net well locations Contingent resource Acreage in liquids rich window largely evaluated 50 %…
Montney Shale proven and expanding play Key metrics Net acres Net well locations Average OGIP/section bcf Contingent resources tcfe 211,00 4,300 450 33 2011 capital program $100 million Farrell Creek commercial development Accelerated…
Montney Shale Farrell Creek and Cypress A Horizontal type curve 200 Days Average Bcf TLM key metrics 2010 2011 assumptions Net new wells on stream EUR per well 30 day IP per well mmcf/d 2011 capital program $ 800 million gross $ 100…
Montney Shale reducing costs through technology and innovation Montney 24 well pad Williston Lake water Pipeline pad drilling reduces cost and environmental footprint Lean well delivery to embed continuous improvement First company to…
Duvernay shale Alberta Liquids rich opportunity in an established oil and gas basin North duvernay 184,000 net acres 2 pilot wells planned 4Q 2011 South Duvernay 176,000 net acres Pilot wells planned in 2012 TLM land area Shale fairway…
Future options Poland Shale TLM block Well Shale fairway Gross shale thickness comparison Marcellus Montney Poland Empire State building CN tower Seismic program complete 3 well program commenced with spud of Lewino 1G2 on Gdansk West…
Summary Shale production mmcfe/d Shale growth platform Well positioned in three of the leading plays in North America Long term low cost production growth GTL strategic partnership Leveraging shale expertise in Poland 2009 2010 3Q YTD…
Bank of America Merrill Lynch Global Energy Conference November 16, 2011