- 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
North America
Talisman is becoming a leading, returns-focused, shale producer in North America. The company has a diversified portfolio that includes interests in shale plays in British Columbia (BC) and Quebec in Canada, and Pennsylvania, New York and Texas in the US. Talisman continues to invest in conventional oil and natural gas properties in Western Canada. The company expects future growth to come from low-cost, long-life shale assets.
North Sea
With a decade of sustainable production ahead of it in the North Sea, Talisman is focused on offshore development and exploration activities in the UK and Norway. Talisman’s North Sea production is predominantly light, high-value oil and liquids. The company plans to maintain the region as a stable cash-generating business.
Southeast Asia
Talisman’s Southeast Asia operations are expected to continue as a self-funding, growth area over the medium term and with significant, long-term exploration upside. Talisman is exploring and developing oil and natural gas in Indonesia, Malaysia, Vietnam, Australia and Papua New Guinea. Current production from the region is predominantly oil and liquids, or natural gas linked to oil prices.
International Exploration
Talisman is building an international exploration portfolio that will contribute to the renewal of the company through the discovery of significant new hydrocarbon resources. In Peru and Colombia, the company is building an oil-focused core region. In Southeast Asia, Talisman is exploring prospects offshore Malaysia, Indonesia and Vietnam and onshore Papua New Guinea. In addition, Talisman is also looking for exploration opportunities to sustain North Sea production. The company is also pursuing material growth opportunities in Poland and in the Kurdistan region of northern Iraq.