OTCPK:TLSMF - Post by User
Post by
woodchukon Jul 27, 2007 10:22am
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Post# 13160097
Sumitomo buys north sea oil stakes from Talis
Sumitomo buys north sea oil stakes from TalisTOKYO, July 27 (Reuters) - Sumitomo Corp. <8053.T> has
acquired stakes in two oilfields in the North Sea from Canada's
Talisman Energy for an undisclosed sum, the Japanese
trading house said on Friday.
Sumitomo bought a 50 percent stake in 13/23b field and a 25
percent of 13/24b field. The remaining stakes are held by
Talisman.
The fields, which have estimated reserves of 20 million to
50 million barrels of oil equivalent, are scheduled to start
production from around 2010 or 2011, a Sumitomo spokesman said.
((Reporting by Osamu Tsukimori; Reuters Messaging:
osamu.tsukimori.reuters.com@reuters.net; +81-3-3432-7391))
Keywords: CRUDE SUMITOMO/TALISMAN