ALBERTA

Talisman says Repsol is one of several parties that have approached company

12/09/2014 06:24 EST | Updated 02/08/2015 05:59 EST
CALGARY - Talisman Energy Inc. (TSX:TLM) 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 US$101 a barrel to a recent five-year low. The January crude oil contract closed at US$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 vell 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.

The Calgary-based company has made no secret about its interest in negotiating the sale of assets, and it has frequently been the subject of takeover rumours.

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