Summary (3,738 Mb) Financial Review (612 kb) Annual Information Form (906 kb) Management Proxy Circular (261 kb)

The Annual Report Summary provides an overview of the Company's operating and financial results, core areas, and investor information. The 2004 Annual Report Financial Reviews contains the Management's Discussion & Analysis, Audited Consolidated Financial Statements and Notes and Supplementary Information.


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	Letter to Shareholders		(475 kb)
+	Talisman Profile		(867 kb)
5 Year Summary   Strategy   2004 Promises Kept   2005 Key Targets   Talisman Differentiators
+	Financial & Operating Highlights		(487 kb)
Business Environment
+	Operating Areas		(531 kb)
North America   North Sea   South East Asia   Other International Areas
+	Governance & Leadership		(413 kb)
Management Team   Corporate Governance   Governance Compliance   Corporate Responsibility
+	MD&A		(197 kb)
Highlights   2005 Outlook Summary   Segmented and Corporate Results   Liquidity and Capital Resources   Accounting Policies   Risks and Uncertainties   Forward Looking Statements   Advisories
+	Financial Statements & Notes		(194 kb)
Report of Management     Auditors' Report   Balance Sheets   Income Statements   Retained Earnings   Cash Flow   Notes
+	Supplementary Oil & Gas Information		(68 kb)
Results of Operations   Capitalized Costs   Costs Incurred   Standardized Measures   Net Reserves Continuity
+	Additional Information		(81 kb)
Historical Financial Summary   Financial Ratios and Key Indicators   Historical Operations Summary   Gross Product Netbacks   Net Production   Product Netbacks   Historical Proved and Probably Reserves   Gross Reserves Continuity
+	Detailed Property Reviews		(70 kb)
2004 Landholdings   2004 Drilling   5 Year Drilling Results   North America   North Sea   Southeast Asia   Algeria   Trinidad & Tobago   Sudan   Exploration Areas
+	Corporate & Investor Info		(59 kb)
Directors & Executive   Corporate Information   Investor Information   Market Information
+	Abbreviations, Advisories, & Definitions		(93 kb)
Advisories   Abbreviations & Definitions

Readers are referred to the advisories, definitions and abbreviations at the back of this Annual Report. Talisman Energy Inc. has a number subsidiaries which conduct business in variuos parts of the world. For ease of reference, the terms "Talisman" and "Company" are used in the Annual Report to refer collectively to Talisman Energy Inc., its direct and indirect subsidiaries and partnership interests held by Talisman Energy Inc. and its subsidiaries, unless the context indicates otherwise. References to production, reserves, acreage and drilling are gross numbers unless otherwise indicated.