Moving Forward

Talisman remains committed to the long-term growth and evolution of its corporate responsibility activities. As such, we have included some of our proposed activities in 2005. Though not an all-inclusive list, we hope these projects give our stakeholders a sense of where some of our efforts will be directed for the remainder of 2005.

2005 Social Activities

• Re-examine global community contributions strategy to ensure alignment with business goals.
• Continue to refine and implement new country entry due diligence process.
• Assess community development projects in Sudan to determine post 2005 plans, if any.
• Continue efforts to embed Talisman’s PBCE throughout the organization and examine the PBCE to ensure alignment with corporate governance.
• Continue to implement Security Policy.

2005 HSE Activities

• Complete comprehensive environmental studies, submission of a formal environmental impact statement and award contracts for turbine manufacture and installation, fabrication and tie-in in support of the construction of the Beatrice Wind Farm Demonstrator Project.
• Continue efforts to reduce water and entrained oil discharged in the North Sea.
• Address issues regarding the controls relating to the measurement, processing and reporting of CO₂E emissions data for our UK operations.
• Continue to assess over 1,100 well sites, facilities and pipelines within 100 metres of permanent water bodies in Alberta to measure spill containment and control.
• Continue to address planning and policy issues associated with wildlife and access management in the Rocky Mountain Foothills.
• Complete detailed environmental planning currently under way in support of proposed drilling operations onshore Trinidad in 2005. Key elements include drilling waste management and oil spill contingency planning.
• Provide environmental support for proposed drilling offshore Qatar in 2005, including performing environmental baseline surveys, completing a drilling EIA and oil spill contingency planning.
• Continue to monitor developments regarding the Kyoto Protocol and its impacts on the oil and gas industry and manage our risks in the area.

2005 Economic Activities

• Add up to 149 new full-time equivalent positions to our global workforce.
• Continue to monitor and participate, where appropriate, in the Extractive Industries Transparency Initiative.

“Moving forward (section) lacked any sustainability strategy goals for 2004. SSC International was looking for a small number of sustainability scorecard performance goals for 2004 that would enhance the progress of the Company’s wealth generating abilities. There were none.” Peter Downing, President, SSC International.