Canadian Oil

[Tackler]

Talisman Energy arranges 104.73-million-share buyback

2007-03-26 13:39 MT - News Release

Mr. David Mann reports

TALISMAN ENERGY RENEWS NORMAL COURSE ISSUER BID

Talisman Energy Inc. has made the necessary filings in order to continue to purchase its common shares from time to time in accordance with the normal course issuer bid procedures under Canadian securities laws.

During the 12-month period of Talisman's previous normal course issuer bid up to March 18, 2007, the company purchased a total of 50,807,800 common shares at an average price of $18.84 per share.

Pursuant to a notice filed with the Toronto Stock Exchange, Talisman may purchase for cancellation, during the 12-month period commencing March 28, 2007, and ending March 27, 2008, up to 104,732,244 of its common shares, representing 10 per cent of the public float of approximately 1,047,322,438 common shares outstanding as at March 19, 2007. As at March 19, 2007, there were approximately 1,048,518,305 common shares issued and outstanding in total. The purchases will be made through the facilities of the Toronto Stock Exchange and the New York Stock Exchange. The purchase and payment for the common shares will be made by the company in accordance with the policies of the exchange through which the common shares are purchased.

Talisman's primary objective is to increase shareholder value by delivering growth in reserves and production volumes per share. While successful exploration and development are the best value generators in the upstream oil and gas business, Talisman also advances this objective through the purchase of its own shares.