AN26 Citi Fun 25

    


Talisman Energy Inc.



Talisman Energy Inc. announced that one of its subsidiaries has acquired all the
shares of CNOOC Wiriagar Overseas Limited from a subsidiary of CNOOC Ltd. for a
consideration of US$212.5 million. CNOOC Wiriagar Overseas Limited holds a 3.06%
interest in the Tangguh LNG Project. The equity transfer became effective at
12:00 am, Beijing time, on January 1, 2008.

The Tangguh LNG Project, located in West Papua, Indonesia, consists of a number
of offshore gas wells, production facilities, pipelines and LNG plant facilities
with a nameplate capacity of 7.6 million tons per year. First LNG is expected in
late 2008.

"I am pleased with this settlement," said John Manzoni, President and Chief
Executive Officer of Talisman. "The purchase marks the end of a longstanding
contractual disagreement inherited by both parties. I look forward to further
developing our business in the region and building on our relationship with
CNOOC Ltd."

Talisman Energy Inc. is an independent upstream oil and gas company
headquartered in Calgary, Alberta, Canada. The Company and its subsidiaries have
operations in North America, the North Sea, Southeast Asia and North Africa.
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. 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:

Media and General Inquiries:           Shareholder and Investor Inquiries:

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

04-08

Forward-Looking Information:

This press release contains statements that constitute "forward-looking
information" or "forward-looking statements" (collectively "forward-looking
information") within the meaning of applicable securities legislation. This
forward-looking information includes, among others, statements regarding:

* business strategy and plans or budgets; 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 information uses 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", "goal", "objective" 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 information contained in this
press release

Undue reliance should not be placed on forward-looking information.
Forward-looking information is based on current expectations, estimates and
projections that involve a number of risks, which could cause actual results to
vary and in some instances to differ materially from those anticipated by
Talisman and described in the forward-looking information contained in this
press release. The material risk factors include, but are not limited to:

* 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 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;

* risk that adequate pipeline capacity to transport the gas to market may not be
available;

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

* the outcome and effects of any future acquisitions and dispositions;

* the ability of the Company to integrate any assets it may acquire or the
performance of those assets;

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

* competitive actions of other companies, including increased competition from
other oil and gas companies and companies providing alternative sources of
energy;

* changes in general economic and business conditions;

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

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

Readers are cautioned that the foregoing list of risk factors is not exhaustive.
Additional information on these and other factors which could affect the
Company's operations or financial results are included in the Company's most
recent Annual Information Form and Annual Financial Report. In addition,
information is available in the Company's other reports on file with Canadian
securities regulatory authorities and the United States Securities and Exchange
Commission.

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

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