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Monday, Sep 23
Talisman in talks to sell stake in Kurdistan oil assets
- Talisman Energy (TLM -0.7%) is in talks to sell its stake in two exploration-stage projects in a potential oil-producing region of Kurdistan in northern Iraq, CEO Hal Kvisle says.
- A slowdown in deal-making due to flagging demand for western Canadian energy assets, especially from once-active Chinese buyers, is leading TLM to accelerate long-term plans to divest part of leases covering 119K acres in Kurdistan.
- While Kvisle says he is confident TLM will survive its current travails, he doesn't dismiss the possibility of selling its cash-rich southeast Asian operations or even the entire company.