- Talisman 2010 Highlights
- About Our Company
- Financial and Operating Highlights
- President's Message
- Where We Operate
- Looking to 2011
- Management's Discussion and Analysis
- 2010 Performance
- 2010 Net Income Variance
- Continuing Operations Review
- Acquisitions
- Discontinued Operations
- Reserves Replacement
- Liquidity and Capital Resources
- Sensitivities
- Commitments and Off-Balance Sheet Arrangements
- Risk Management
- Summary of Quarterly Results
- Outlook for 2011
- Internal Control Over Financial Reporting and Disclosure Controls and Procedures
- Litigation
- Application of Critical Accounting Policies and Use of Estimates
- Changes in Reporting Conventions
- New US Accounting Pronouncements
- New Regulatory Developments
- International Financial Reporting Standards (IFRS)
- Risk Factors
- Advisories
- Abbreviations and Definitions
- Consolidated Financial Statements
- Report of Management
- Management Report on Internal Control Over Financial Reporting
- Independent Auditors' Report on Internal Controls Under Standards of the Public Company Accounting Oversight Board (United States)
- Independent Auditors' Report of Registered Public Accounting Firm
- Consolidated Balance Sheets
- Consolidated Statements of Income
- Consolidated Statements of Comprehensive Income (Loss)
- Consolidated Statements of Changes in Shareholders' Equity
- Consolidated Statements of Cash Flows
- Notes to the Consolidated Financial Statements
- Supplementary Oil and Gas Information
- Results of Operations from Oil and Gas Producing Activities
- Capitalized Costs Relating to Oil and Gas Activities
- Costs Incurred in Oil and Gas Activities
- Standardized Measure of Discounted Future Net Cash Flows from Proved Reserves
- Discounted Future Net Cash Flows from Proved Reserves
- Principal Sources of Changes in Discounted Cash Flows
- Continuity of Net Proved Reserves 1
- Additional Information
- Detailed Property Reviews
- Governance
- Investor Information
- Corporate Information
- Advisories
- Market Information
| Years ended December 31 (millions of C$ unless otherwise stated) | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| Net income | 648 | 437 | 3,519 | 2,078 | 2,005 |
| Cash flow1 | 3,058 | 3,961 | 6,163 | 4,327 | 4,748 |
| Exploration and development spending | 3,953 | 4,245 | 5,106 | 4,449 | 4,578 |
| Acquisitions | 1,562 | 438 | 452 | 317 | 204 |
| Dispositions | 2,347 | 2,774 | 442 | 1,477 | 872 |
| Debt/debt + equity (%) | 29 | 26 | 26 | 38 | 38 |
| Debt/cash flow (times) | 1.4 | 1.0 | 0.7 | 1.1 | 1.0 |
| Per common share | |||||
| Net income ($) | 0.64 | 0.43 | 3.46 | 2.01 | 1.84 |
| Cash flow ($)1 | 3.00 | 3.90 | 6.06 | 4.19 | 4.35 |
| Production (boe) | 0.150 | 0.153 | 0.160 | 0.160 | 0.162 |
| Proved gross reserves (at year-end) (boe) | 1.36 | 1.39 | 1.41 | 1.61 | 1.57 |
| Average royalty rate (%)2 | 16 | 15 | 18 | 17 | 17 |
| Unit operating costs ($/boe) | 12.80 | 12.91 | 13.57 | 12.14 | 9.98 |
| Unit DD&A ($/boe)2 | 15.21 | 17.28 | 16.44 | 14.74 | 12.22 |
| Return on capital employed (%)3 | 5.9 | 4.1 | 26.6 | 18.5 | 19.5 |
| Return on active capital employed (%)4 | 10.1 | 6.2 | 38.7 | 28.5 | 31.2 |
| Return on equity (%)5 | 6.0 | 3.9 | 36.8 | 27.2 | 30.8 |
- Non-GAAP measure. See advisory.
- 2009 and 2008 restated for operations classified as discontinued in 2010.
- Net income plus tax effected interest/(average shareholders’ equity + average debt).
- Net income plus tax effected interest/(average shareholders’ equity + average debt + average non-depleted capital).
- Net income/average shareholders’ equity.