CAPP Investment Symposium June 13, 2011 John Manzoni, President & CEO
Talisman - three core production areas, plus high impact international exploration Producing areas North Sea stable production generates free cash flow Exploration areas European shale North America Kurdistan shale…
Portfolio strategy North America conventional Flat for a decade at Base 80-90 mboe/d 1 Free cash flow to invest North Sea Flat production at 110-140 mboe/d until 2020 North America shale Liquids and leading gas plays Growth 2…
North America conventional portfolio overview British Alberta TLM land Net well Columbia Area Product Net acres Conventional gas locations Tight gas Oil/ Cardium oil and Monkman Monkman Liquids rich gas liquids rich 194,000 950…
North America leading shale portfolio TLM land Industry full cycle break-even Area of operation /mcfe 5.5 Woodford Bossier Haynesville 5.0 Montney Montney JV JV Horn River Fayetteville Average Average working…
The future North America low-cost, deep shale portfolio Production and unit operating costs Net well locations Percentage (%) /boe 100 10.0 Marcellus (PA) Montney Farrell 75 7.5 Creek/Cypress A JVs Other Montney 50 5.0…
Near-term projects underpin production growth Southeast Asia production mboe/d 200 Development Base 8% Key development projects 100 Corridor additional gas sales Jambi Merang PM-3 CAA IOR PM-3 CAA infill drilling…
North Sea 110-140 mboe/d through 2020 Production mboe/d 200 Dispositions MonArb Fulmar Continuing operations redevelopment hub Yme Godwin Auk Flyndre/ Beta South Cawdor Grosbeak 150 Grevling 140 110 100 50 0…
International Exploration portfolio focused by region Core regions North North Sea Sea Sustain Sustain production production Future options European European shale shale Kurdistan Kurdistan Latin Latin America…
Focused exploration portfolio Land position (millions of net acres) 25 20 15 10 5 5 10 15 20 25 2007 2011 Southeast Asia Latin America North Sea Kurdistan Future options Poland Qatar Alaska Trinidad Exited Tunisia…
Llanos and Putumayo Basins foothills and heavy oil trend showing great potential TLM block Llanos Export terminal Basin Oil pipeline Gas pipeline Rubiales Field CPO 12 CPO 9 CPE 8 Akacias-1 Akacias-1 2010-2011 2010-2011…
Sustainable growth Production mboe/d Rest of world 5-10% Latin America Southeast Asia North America shale North America conventional North Sea 2011 2012 2013 2014 2015 NYSE : TLM TSX : TLM…
Safe, profitable growth Portfolio transition largely complete Outlook transformed Exploration work in progress 5-10% growth into the future Sustainable due to shape of portfolio Improving profitability as replacement costs…