2009-08-17-2008-06-01

To buy subsidiary gaining 30% nonoperated interest in license 6/95 containing Siri Field, bringing total interest to 50%.

Norwegian Energy Co., Stavanger, Norway, (Oslo: NOR) (aka Noreco) plans to acquire Talisman Oil Denmark Ltd., a subsidiary of Talisman Energy Inc., Calgary, (NYSE; Toronto: TLM) for US$83 million. Talisman's interests in the Danish sector of the North Sea include a 30% nonoperated interest in license 6/95, which contains Siri Field. Noreco owns a 20% interest in the field, and will hold a 50% share following the acquisition. Noreco also holds significant interests in the area including Cecilie, Nini, Nini East and Rau fields. Production from Siri Field for 2007 averaged approximately 2,600 barrels of oil equivalent per day. Proved reserves were 2.1 million barrels equivalent as year-end 2007. Talisman president and chief executive John Manzoni says, "As we move into the early phases of Talisman's new strategy, we will focus our portfolio on our core areas." Closing is expected in June. The effective date is Jan. 1.