This confirms the problem - Talisman selling out of the project I sold out of HZN today
Talisman reconsiders PNG: report
Friday, 14 February 2014 Blair Price TALISMAN Energy is marketing Papua New Guinean wet-gas acreage as part of a recently announced a $US2 billion ($A2.2 billion), “second phase” non-core asset disposal plan.
Parker drilling rig 226 at Talisman's Siphon-1 well in 2011.
According to sources of the Australian Financial Review, an investment bank had started marketing stakes in PNG gas fields and exploration ventures on behalf of Talisman since the start of the year.
“An investor presentation provided to potential acquirers put the assets’ value at between $400 million and $600 million but did not provide a deal timetable, with sources saying the document should be viewed as a “teaser” designed to gauge the market’s interest,” the newspaper reported. This news comes as Talisman and joint venture partner Horizon Oil faced considerable delays in getting government approvals for their condensate commercialisation plans in PNG’s Western province. It is where Talisman has considerable stakes among 9 licenses, which downstream player Mitsubishi has also partnered into.
HZN Price at posting:
33.0¢ Sentiment: Sell Disclosure: Not Held
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