For Subscribers

Get the complete article now!

Talisman Energy Inc. (NYSE:TLM);

Four analysts and top management from sixteen sector firms examine the canadian energy sector in this special 74-page Canadian Energy issue from The Wall Street Transcript, available at (212/952-7433) or http://www.twst.com/info/info503.htm

“Talisman is a very well run corporation, but it is very autocratic vis-à-vis CEO Jim Buckee runs the show,” says a top energy analyst. “Buckee tends to be acquisition-minded. Talisman also has some good drill bit abilities as well. However, since the purchase of Arakis and its interest in Sudan, Talisman’s stock multiple has been depressed. Buckee has taken a lot of heat for Sudan and there's been a lot of negative controversy. A number of Talisman’s larger investors basically divested themselves from the stock. So while Talisman has been very well run they are facing some challenges.

“As noted, Buckee tends to be acquisition-minded. Talisman recently acquired Petromet. I think Petromet was a good story in their own right and should play out well for Talisman. PetroMet had done an outstanding job with respect to a moving to gas leverage; about 80% of the company was natural gas. Petromet was a smaller company, but they sold themselves for a huge premium to Talisman. PetroMet sold for about $12.40. It was around the $3, $4 level two years earlier. PetroMet paid off. Talisman made a good call in picking up PetroMet.

This special issue includes:

1) Canadian Energy - In an in-depth (9,400 words) Analyst Roundtable, May Shen Chiliton, Vice President of Oil and Gas Equity Research at J.P. Morgan Chase, Gordon Currie, Oil and Gas Analyst at Canaccord Capital Corporation, Matt Janisch, Managing Director, Head of North American Energy Research at BMO Nesbitt Burns, Inc. and Philip R. Skolnick, Equity Research Analyst at Lehman Brothers, examine the outlook for the sector including investment approach, future outlook and share specific stock recommendations.

2) The TWST confidential Off-The-Record survey of management performance of twelve sector firms asked market insiders about the ability of management teams to create shareholder value.

3) CEO interviews (average 2,500 words). Top management of sixteen sector firms examine the outlook for their firm and the sector.