Talisman Energy Poland B.V. has reached an agreement to transfer its interests in Poland to its partner San Leon Energy.
San Leon will acquire 100% of the shares of Talisman Energy Polska Sp. z o.o. (100% held by Talisman Energy Poland B.V.), including all assets and drilling equipment. The deal enables Talisman to exit the country with no outstanding commitments or liability.
“Talisman’s decision to exit Poland is driven by our strategic priority to focus on production within our two core areas: the Americas and Asia-Pacific,” said Paul Warwick, Executive Vice-President, Europe-Atlantic. “Although encouraged by the preliminary results of our drilling program, we need to focus on what is important to our shareholders. I am proud of what our team has accomplished in Poland: a technically successful drilling program and strong relationships with key stakeholders.”
Talisman signed a farm-in agreement with San Leon in 2010 to earn a 30% working interest in three blocks in the Baltic Basin. Talisman drilled one vertical well in each block. Talisman has closed its office in Warsaw.
[mappress] LNG World News Staff, May 8, 2013