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Talisman admits talks with Repsol, but says no deal yet

Talisman Energy Inc. says several parties including Repsol have approached the Calgary-based oil and gas producer about potential deals — but added there's no assurance any agreement will result.

TSX orders Calgary oil company to make statement after media reports

The Canadian Press ·
Talisman says it has been approached by Repsol and other parties, but talks are ongoing. (Larry MacDougal/The Canadian Press)

Talisman Energy Inc. says several parties including Repsol have approached the Calgary-based oil and gas producer about potential deals — but added there's no assurance any agreement will result.

Talisman made the comment at the request of the Toronto Stock Exchange after media reports said the Spanish and Canadian energy companies had resumed talks.

Talisman previously acknowledged talks with Repsol last July but they haven't announced a deal.

Since the summer, the price of oil has plunged from about $101 US a barrel to a recent five-year low. The January crude oil contract closed at $63.05 a barrel on Monday.

Shares of energy producers including Talisman have also dropped, contributing to recent declines at the Toronto Stock Exchange, which fell more than 300 points on Monday alone.

Talisman shares closed Monday at $4.30 on the Toronto Stock Exchange, down about four per cent for the day and down from $11.93 on July 29, when it last acknowledged discussions with Repsol.

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