Canadian Oil

[Tackler]

Post says Talisman gets excited about Vietnam

2007-03-23 07:29 MT - In the News

The Financial Post reports in its Friday edition encouraging drilling result offshore Vietnam has Talisman Energy talking about the potential for its first commercial project in the Southeast Asian country. The Post's Jon Harding writes Talisman said Thursday it drilled a successful follow-up well at its Hai Su Trang discovery, demonstrating that the neighbouring and massive Te Giac Trang field. The field was found in 2005 by a partnership of other companies and extends beneath Talisman's block. Talisman's Hai Su Trang discovery and the Te Giac Trang find are about 75 kilometres off Vietnam's east coast. "Although we're still in the appraisal stage, these drilling results have given us come confidence that we are looking at our first commercial discovery here," Talisman chief executive officer Jim Buckee. The partners in Te Giac Trang, which in translation means White Rhino, said previously they believe they are sitting on 300 million barrels of oil, although the estimate has not been confirmed by independent sources, according to international energy consultancy Wood Mackenzie. The Te Giac Trang discovery two years ago sparked a rush of new exploration to a previously overlooked area.