"We are very pleased with the outcome of the sales process that we announced in January," said John A. Manzoni, President and Chief Executive Officer. "Although these are excellent assets with a great future, they can't effectively compete for capital within our emerging strategic asset mix. These sales are value accretive and will help us focus on, finance and build our growing, low-cost North American shale gas business."

These transactions include approximately one million net acres of land in the greater Peace River Arch, central Alberta Foothills and greater Hinton areas in Alberta, as well as the company's Ontario properties. The assets are currently producing 42,500 boe/d (approximately 90% natural gas), with net proved reserves of 120 mmboe. The sale equates to approximately $44,000/boe/d and $16/boe of proved reserves and seven times cash flow.

These transactions are expected to be finalized by the end of the second quarter of 2010, subject to normal regulatory approvals.

Talisman Energy Inc. is a global, diversified, upstream oil and gas company, headquartered in Canada. Talisman's three main operating areas are North America, the North Sea and Southeast Asia. The Company also has a portfolio of international exploration opportunities. Talisman is committed to conducting business safely, in a socially and environmentally responsible manner, and is included in the Dow Jones Sustainability (North America) Index. Talisman is listed on the Toronto and New York stock exchanges under the symbol TLM. Please visit our website at www.talisman-energy.com.

1.9 billion CAD to spend on the North American shale gas business! I'm not that familiar with Talisman. Is QEC the most likely candidate for Talisman to develop their shale gas interests with, or do they have other partners and other projects elsewhere? I've had a look at the hub for Talisman here on Agoracom but there's little activity / information there.

Could Talisman be considering a bid for QEC? If so, what would a fair price tag be for QEC given todays scenario?