AN26 Citi Fun 25

    


Talisman Energy Inc.



Talisman (Vietnam 15-2/01) Ltd., a wholly owned subsidiary of Talisman Energy
Inc., has drilled a successful sidetrack well into its Hai Su Trang (HST)
discovery made earlier in the year offshore Vietnam, providing valuable
appraisal and field delineation data on the HST oil accumulation. This follows
an earlier successful sidetrack into the adjacent Te Giac Trang (TGT) industry
discovery.

"The continuing success in Vietnam keeps us moving forward towards our first
development in Block 15-2/01 and reinforces our belief in the significant
commercial potential of the block" said Dr. Jim Buckee, President and Chief
Executive Officer of Talisman. "The well results are very encouraging because,
not only do we see continuity in the oil bearing sands encountered in the
original discovery well, but we also encountered new sands structurally higher
in the section. It is great to have three successes so early on in the
exploration term and we are very excited about the three-well exploration
program planned for the third quarter of this year. This program is expected to
test three prospects which potentially are all larger than HST, including a very
large basement structure."

The sidetrack appraisal well was drilled to a total depth of 3,342 metres
(measured depth) and successfully penetrated the HST structure on Block 15-2/01
approximately 1.1 kilometres to the northeast of the original discovery
location. The sidetrack encountered 51 metres of net oil pay at a structural
elevation very similar to the discovery well. Extensive down-hole well logging
and sampling has confirmed the presence and quality of the same oil bearing
zones that were discovered and tested in the original HST discovery well. With
this new information, Talisman and co-venturer, PetroVietnam Exploration and
Production Company ("PVEP"), expect to be able to move quickly to full field
development.

The HST discovery is located in Block 15-2/01, 50 miles off the east coast of
Vietnam on trend with large oil and gas discoveries in the Cuu Long Basin. In
January 2007, Talisman announced that the HST discovery well had tested 14,863
bbls/d of oil from a separate fault block updip and adjacent to the 2005 TGT
Block 16-1 industry discovery. In March 2007, Talisman announced that the first
sidetrack well from the HST discovery successfully tested oil from the Lower
Miocene formation, confirming that the adjacent TGT industry discovery extends
onto Block 15-2/01.

Thang Long Joint Operating Company (TLJOC), a special purpose company
established for conducting all operations on Block 15-2/01, plans to commence
drilling three new exploration wells in 2007 to evaluate a very exciting
basement structure as well as two more of the many Miocene/Oligocene clastic
prospects that are on trend with the HST discovery. Further exploration drilling
is anticipated beyond 2007. Talisman holds a 60% working interest share in any
commercial discoveries on Block 15-2/01 with PVEP holding the remaining 40%.

TLJOC is in the process of preparing a reserves assessment report in preparation
for a project development plan. Talisman and TLJOC believe that a joint area
development presents the best opportunity to maximize reserves and the economics
for all parties. Discussions will be ongoing with the operators of the TGT
discovery in Block 16-1.

Talisman Energy Inc. is an independent upstream oil and gas company
headquartered in Calgary, Alberta, Canada. Talisman has operations in Canada and
its subsidiaries operate in the North Sea, Southeast Asia, Australia, North
Africa, the United States and Trinidad and Tobago. Talisman's subsidiaries are
also active in a number of other international areas. Talisman is committed to
conducting its business in an ethically, socially and environmentally
responsible manner. The Company is a participant in the United Nations Global
Compact and included in the Dow Jones Sustainability (North America) Index, as
well as the Jantzi Social Index. Talisman's shares are listed on the Toronto
Stock Exchange in Canada and the New York Stock Exchange in the United States
under the symbol TLM.

For further information, please contact:
David Mann
Senior Manager, Corporate & Investor Communications
Phone: 403-237-1196
Fax: 403-237-1210
E-mail: tlm@talisman-energy.com
or
Christopher J. LeGallais
Senior Manager, Investor Relations
Phone: 403-237-1957
Fax: 403-237-1210
Email: tlm@talisman-energy.com

16-07

Forward-Looking Statements

This news release contains statements that constitute forward-looking statements
or forward-looking information (collectively "forward-looking statements")
within the meaning of applicable securities legislation. These forward-looking
statements include, among others, business plans for drilling, exploration and
development and estimated timing; business strategy and plans; and other
expectations, beliefs, plans, goals, objectives, assumptions, information and
statements about possible future events, conditions, results of operations or
performance.

Often, but not always, forward-looking statements use words or phrases such as:
"expects," "does not expect" or "is expected," "anticipates" or "does not
anticipate," "plans" or "planned," "estimates" or "estimated," "projects" or
"projected," "forecasts" or "forecasted," "believes," "intends," "likely,"
"possible," "probable," "scheduled," "positioned," "goals," or "objectives" or
state that certain actions, events or results "may," "could," "would," "might"
or "will" be taken, occur or be achieved.

Various assumptions were used in drawing the conclusions or making the forecasts
and projections contained in the forward-looking statements throughout this news
release. In particular, statements that discuss future business plans for
drilling, exploration and development assume that the extraction of crude oil,
natural gas and natural gas liquids remains economic.

Undue reliance should not be placed on forward-looking statements.
Forward-looking statements are based on current expectations, estimates and
projections that involve a number of risks and uncertainties, which could cause
actual results to differ materially from those anticipated by Talisman and
described in the forward-looking statements. These risks and uncertainties
include:

* the risks of the oil and gas industry, such as operational risks in exploring
for, developing and producing   crude oil and natural gas, market demand and
unpredictable facilities outages;

* risks and uncertainties involving geology of oil and gas deposits;

* the uncertainty of reserves estimates, reserves life and underlying reservoir
risk;

* the uncertainty of estimates and projections relating to production, costs and
expenses;

* potential delays or changes in plans with respect to exploration or
development projects or capital   expenditures;

* fluctuations in oil and gas prices, foreign currency exchange rates and
interest rates;

* health, safety and environmental risks;

* uncertainties as to the availability and cost of financing and changes in
capital markets;

* risks in conducting foreign operations (for example, political and fiscal
instability or the possibility of   civil unrest or military action);

* changes to general economic and business conditions;

* the effect of acts of, or actions against, international terrorism;

* the possibility that government policies or laws may change or governmental
approvals may be delayed or   withheld; and

* the Company's ability to implement its business strategy.

Readers are cautioned that the foregoing list of risks and uncertainties is not
exhaustive. Additional information on these and other factors which could affect
the Company's operations or financial results are included: (1) under the
heading "Risk Factors" in the Company's Annual Information Form; and (2) under
the headings "Management's Discussion and Analysis - Risk Factors" and elsewhere
in the Company's 2006 Annual Financial Report. Additional information may be
found in the Company's other reports on file with Canadian securities regulatory
authorities and the United States Securities and Exchange Commission.

Forward-looking statements are based on the estimates and opinions of the
Company's management at the time the statements are made. The Company assumes no
obligation to update forward-looking statements should circumstances or
management's estimates or opinions change, except as required by law.

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