Talisman joins Total in Alaska NPRA exploration project

Talisman Energy Inc., Calgary, has entered into an agreement with Total E&P USA Inc., to explore 360 sq miles of Total's lease in 10 National Petroleum Reserve Area blocks on the Alaskan North Slope. Operator Total acquired the acreage in two tracts in the government's May 2002 lease sale.

July 2, 2003

By OGJ editors

HOUSTON, July 2 -- Talisman Energy Inc., Calgary, has farmed in with Total E&P USA Inc., to explore Total's leases in 10 National Petroleum Reserve Area blocks on the Alaskan North Slope. Operator Total acquired the 360 sq mile acreage in two tracts in the government's May 2002 lease sale.

The prospects lie to the west of the Lookout-Rendezvous area, site of 430 million bbl Alpine field and other recent discoveries.

Talisman subsidiary Fortuna Exploration LLC will participate in drilling an exploration well on a selected prospect to earn a 30% interest in the prospect, and will retain the right to earn a similar interest in the remaining prospects.

Evaluation of the prospects will continue this year, with first drilling expected in early 2004.