Talisman Energy Announces First Production From the Rev Field

TIDMAN26

FOR: TALISMAN ENERGY INC.

TSX, NYSE SYMBOL: TLM

January 26, 2009

Talisman Energy Announces First Production From the Rev Field

CALGARY, ALBERTA--(Marketwire - Jan. 26, 2009) - Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) announced first gas
production from the Rev Field in Norway.

The Field is expected to produce at a plateau rate of 100 mmcf/d of gas and 6,000 bbls/d of condensate and
natural gas liquids from two subsea wells. A third producer, the Rev East well, is expected to be brought on-
stream later in 2009. Talisman's share of proved and probable reserves in the Rev Field at year end 2007 is
estimated at 26 million boe, with proved reserves of 16 million boe.

Talisman Energy Norge AS, a wholly-owned subsidiary of Talisman Energy Inc., has a 70% interest in the Field,
with Petoro AS holding the remaining 30%. Production is transported via a nine kilometer pipeline to the Armada
platform in the UK, operated by BG International (CNS) Limited, for processing and final export to the UK.

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.

Forward-Looking Information

This press release contains information that constitutes "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: estimates of
production, estimated timing of new production, and other expectations, beliefs, plans, goals, objectives,
assumptions, information and statements about possible future events, conditions, results of operations or
performance.

The following material assumptions were used in drawing the conclusions or making the forecasts and projections
contained in the forward-looking information contained in this press release: sufficient yield factors, the
availability of sufficient process capacity and wells, and the completion of subsea tie-in and control systems.
Information regarding oil and gas reserves, and business plans generally assumes that the extraction of crude
oil, natural gas and natural gas liquids remains economic.

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 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; and

- changes in general economic and business conditions.

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 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.

Reserves Data and Other Oil and Gas Information

Talisman's disclosure of reserves data and other oil and gas information is made in reliance on an exemption
granted to Talisman by Canadian securities regulatory authorities, which permits Talisman to provide certain
disclosure in accordance with U.S. disclosure requirements. The information provided by Talisman in this press
release may differ from the corresponding information prepared in accordance with Canadian disclosure standards
under National Instrument 51-101 ("NI 51-101"). Information on the differences between the U.S. requirements
and the NI 51-101 requirements is set forth under the heading "Note Regarding Reserves Data and Other Oil and
Gas Information" in Talisman's Annual Information Form.

Talisman's proved reserves have been estimated using the standards contained in Regulation S-X of the U.S.
Securities and Exchange Commission ("SEC"). U.S. practice is to disclose net proved reserves after the
deduction of estimated royalty burdens, including net profit interests. Talisman makes additional voluntary
disclosure of gross proved reserves. Talisman also makes voluntary disclosure of probable reserves. The 2007
reserves included in this press release have been estimated using the definition set out by the Society of
Petroleum Engineers/World Petroleum Congress ("SPE/WPC"). Talisman believes that there is no material
difference between the SPE/WPC definition for probable reserves and the Canadian Oil and Gas Handbook
definition for probable reserves.

The SEC normally permits oil and gas companies to disclose in their filings with the SEC only proved reserves
that have been demonstrated by actual production or conclusive formation tests to be economically and legally
producible under existing economic conditions and operating conditions. Any probable reserves and the
calculations with respect thereto included in this press release do not meet the SEC's standards for inclusion
in documents filed with the SEC.

The exemption granted to Talisman also permits it to disclose internally evaluated reserves data. Any reserves
data contained in this press release reflects Talisman's estimates of its reserves. While Talisman annually
obtains an independent audit of a portion of its proved and probable reserves, no independent qualified
reserves evaluator or auditor was involved in the preparation of the reserves data disclosed in this press
release.

Gross Production

In this press release, Talisman makes reference to production volumes. Such production volumes are stated on a
gross basis, which means they are stated prior to the deduction of royalties and similar payments. In the U.S.,
net production volumes are reported after the deduction of these amounts. U.S. readers may refer to the table
headed "Continuity of Proved Net Reserves" in Talisman's most recent Annual Information Form for a statement of
Talisman's net production volumes by reporting segment that are comparable to those made by U.S. companies
subject to SEC reporting and disclosure requirements.

Boe Conversion

Throughout this press release, the calculation of barrels of oil equivalent (boe) is calculated at a conversion
rate of six thousand cubic feet (mcf) of natural gas for one barrel of oil and is based on an energy
equivalence conversion method. Boes may be misleading, particularly if used in isolation. A boe conversion
ratio of 6 mcf:1 bbl is based on an energy equivalence conversion method primarily applicable at the burner tip
and does not represent a value equivalence at the wellhead.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Talisman Energy Inc. - Media and General Inquiries
David Mann, Vice-President,
Corporate & Investor Communications
(403) 237-1196
(403) 237-1210 (FAX)
Email: tlm@talisman-energy.com
Website: www.talisman-energy.com

Talisman Energy Inc. - Shareholder and Investor Inquiries
Christopher J. LeGallais, Vice-President,
Investor Relations
(403) 237-1957
(403) 237-1210 (FAX)
Email: tlm@talisman-energy.com
Website: www.talisman-energy.com

INDUSTRY: Energy and Utilities-Oil and Gas
SUBJECT: OEX

Talisman Energy Inc.

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