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Talisman shares surge on report

Talisman Energy Inc. shares jumped 6 per cent yesterday after a HongKong newspaper reported CNOOC Ltd., China’s No. 3 oil company, was intalks to buy the Calgary-based firm or some of its assets.

Talisman Energy Inc. shares jumped 6 per cent yesterday after a Hong Kong newspaper reported CNOOC Ltd., China’s No. 3 oil company, was in talks to buy the Calgary-based firm or some of its assets.

It comes a week after Talisman, Canada’s third largest independent oil explorer, laid out details of an overhaul aimed at concentrating money and efforts on its highest-return assets around the world, a program that could mean up to $2 billion in asset sales.


Chief Executive John Manzoni plans to sell operations in the Netherlands, Trinidad and Denmark producing up to 40,000 barrels of oil equivalent a day.

 
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