Talisman Energy Inc , Canada's No.5 independent oil producer, said Friday it still plans to sell its oil properties in Iraq's Kurdistan region, even after its partner announced a massive oil discovery on its properties. Talisman owns a 40 percent stake in the Kurdamir block in Kurdistan, operated by partner WesternZagros Resources Ltd . The junior oil company said on Thursday it had found a field that could contain around one billion barrels or more of crude, which could produce as much as 150,000 barrels per day (bpd).The two companies are now coming up with a development plan for the find, which could see an initial phase producing 10,000 bpd by the end of 2015, WesternZagros said in a statement. It has submitted a Declaration of Commercial Discovery to the Kurdistan governmentDespite the discovery, Talisman still plans to look for buyers for its Kurdistan assets as it continues restructuring to cut debt and boost its flagging shares.The company said earlier this month it expected to begin a sale process within the next several weeks for all or part of its properties in the Middle Eastern country despite violence in the region and that it had not changed its mind about a sale.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 2.91% or $0.305/share to $10.80. In the past year, the shares have traded as low as $9.63 and as high as $13.38. On average, 4392680 shares of TLM exchange hands on a given day and today's volume is recorded at 10355489.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 2.79% or $0.32/share to $11.81. In the past year, the shares have traded as low as $10.48 and as high as $13.83. On average, 2492600 shares of TLM.TO exchange hands on a given day and today's volume is recorded at 2739277.
WesternZagros Resources Ltd.( WesternZagros) is an international oil and gas company engaged in acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq. Shares of WZR fell by 2.41% or $-0.02/share to $0.81. In the past year, the shares have traded as low as $0.73 and as high as $1.28. On average, 829200 shares of WZR.V exchange hands on a given day and today's volume is recorded at 223155.
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