Investor Open House, May 2011 International Exploration Talisman Energy
International Exploration portfolio 1 Base Free cash flow to invest 2 Growth 5-10% sustainable growth Ex 3 Focus areas ? Southeast Asia and Latin America Future options ? Kurdistan and Poland Exploration Renewal of the firm
International Exploration portfolio ? focused by region Latin America Grow new oil production business Latin America Grow new oil production business North Sea Sustain production North Sea Sustain production Southeast Asia…
Leveraging Talisman?s global experience and expertise ? Decades of drilling structurally complex prospects in the Rocky Mountains ? Experience transferred to Colombia, Kurdistan and PNG Foothills exploration ? Deep experience in…
International Exploration ? portfolio transition ? Focus ? Deepen ? Exit non-core ? Access international shale Early success ? Colombia ? PNG ? gas 2012 exploration tests ? Vietnam ? Nam Con Son ? Malaysia ? Sabah ? Peru ?…
25 20 15 10 5 250 200 150 100 50 5 10 15 20 25 50 100 150 200 250 Focused exploration portfolio Trinidad Netherlands Tunisia Denmark Qatar Poland Alaska Kurdistan North Sea Latin America Southeast Asia 2007 2011 Exited…
Diverse exploration po Prospective resources, 201 Billion boe (unrisked) Southeast Asia 5 bboe Fut North Sea 1 bboe ? Total unrisked prosp resources of portfol 10 billion boe May 2011 NYSE:
2009 2010 2011 2015 2012 2013 2014 2016 2017 2009-2010 discoveries ? building the track record Future options Southeast Asia Latin America North Sea Discovery Appraisal Development Production Kurdistan ? K44 Kurdamir Malaysia ?…
Talisman?s growing business in Colombia 8 4 0 12 16 20 2006 2007 2008 2009 2010 2011 Foothills/Foreland Heavy oil Equi?n Colombia blocks count 2006 Niscota block award 2008 Llanos heavy oil award 2009 Hur?n discovery Ex…
2010 acquisition of BP Colombia (Ecopetrol 51%, TLM 49%) ? Company renamed Equi?n Energia in January 2011 at closing ? 4 producing fields in Llanos Foothills ? 12-15 mboe/d (65% liquids) from February 2011 net to Talisman ?…
Piedemonte Complex ? Pauto Sur and Flore?a fields Piedemonte Complex ? 9% of condensate-in-place recovered to end-2010 ? 2 rig program in 2011 ? Planning to increase gas handling capability by 60 mmcf/d in 2012 and by 350 mmcf/d in…
Foothills ? Niscota Hur?n-1 discovery ? Hur?n-1 tested 4,900 boe/d ? 3D seismic being acquired 2011-2012 ? 2 appraisal wells to be drilled in 2011-2012 Hur?n discovery Hur?n discovery Niscota Cross section Piedemonte TLM…
Llanos and Putumayo Basins ? heavy oil trend showing great potential Ecuador Tumaco CAG 5 PUT 9 CAG 6 Putumayo Basin Colombia CPO 9 CPO 12 CPE 8 Rubiales Field Llanos Basin CPE 6 Putumayo Basin 3 licenses awarded 2010…
2010 heavy oil discovery ? Akacias CPO 9 ? Significant discovery at Akacias, downdip of Chichimene Field ? Discovery tested at 1,250 b/d heavy oil ? 2011-2012 program ? 3D seismic ? Humadea exploration well ? 4 Akacias appraisal…
Heavy oil discoveries in Colombia ? CPE 6 ? 2010 5 stratigraphic wells ? Encountered oil in 4 of 5 stratigraphic wells with net pay of up to 30 feet ? 2011 program ? Complete 6th stratigraphic well ? Convert to exploration and…
Colombia ? pipeline capacity expanding with new supply South/Central Llanos export capacity Heavy oil trend to Monterrey capacity 460 mboe/d 330 mboe/d 1,100 mboe/d 2010 730 mboe/d 2013E Apiay-Porvenir 390 mboe/d ODL 340 mboe/d…
Colombia ? summary ? Equi?n shareholding provides growing production base and infrastructure position ? Discoveries in both Llanos Foothills and heavy oil trend now under appraisal ? Build to 50 mboe/d net to Talisman in the…
High quality exploration portfolio in Southeast Asia Nam Con Son Basin Nam Con Son Basin Makassar Straits Makassar Straits Papua New Guinea Papua New Gui Sabah Sabah Australia Indonesia Malaysia Vietnam North Sumatra JPDA Arun…
South Makassar ? large upside potential ? Major deep water gas potential ? Drilling Lempuk-1 exploration well in Sageri PSC in 2011 Lempuk-1 prospect Lempuk-1 Lempuk-1 South Makassar Basin South Sageri Sageri South Sadang…
Vietnam Nam Con Son Basin Cuu Lon Basin Hai Su Trang Hai Su Den Lan Tray 15-2/01 Lan Do Red Emperor 133/134 133/134 135/136 135/136 5.2/10 5.2/10 Ngoc Thach Ngoc Thach TLM block Pending Well Discovery Lead Seismic Oil…
Sabah exploration ? potential to grow in Malaysia ? Multiple plays ? shallow oil potential and deep HPHT gas/condensate potential ? Acquiring 2,600 km2 3D seismic in 2010-2011 ? Drilling 2 wells in 2012 Oil target Depositional…
Malaysia PNG Vietnam Indonesia Southeast Asia ? 2010-2012 exploration activity Seismic Drilling South Makassar Bravo Romeo Lempuk SO-A Nam Con Son Blk 5.2 - Tach Anh 4 Blk 5.2 - Ngoc Thach Foreland Foreland Stanley-2…
Future options ? Kurdistan ? Significant discovery in 2009 ? Proven gas condensate accumulation with indications of underlying oil leg ? Major oil and gas condensate potential ? Drilling Topkhana, Kurdamir-2 Kurdamir and K9 in…
Kurdistan prospectivity SW Kurdamir structure NE Cretaceous: untested oil target Cretaceous: untested oil target Oligocene: gas and condensate Oligocene: gas and condensate SW Topkhana structure NE Kurdamir-1 (K44)…
Poland 2,300 Montney 1,400 Marcellus 250 Future options ? Poland shale ? Seismic program currently underway ? 3 well program to commence in 3Q 2011 ? Leveraging North American unconventional shale expertise Shale thickness…
2011 2012 2,013 2 2012 2011-2012 high impact exploration drilling Future options Southeast Asia Latin America North Sea Poland ? Szczawno Kurdistan ? K9 Indonesia ? South Sageri 2011 Kurdistan ? Topkhana, Kurdamir-2 Poland ?…
International Exploration ? key messages ? 2009 goal of finding 600-700 mmboe discoveries over 5 years…
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