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Talisman operates the Block PM-3 CAA PSC between Malaysia and Vietnam and associated production facilities and holds a 41% interest in the Block, with the exception of the Bunga Kekwa Sub-Block 8G-31 where Talisman holds a 35% interest as a result of an interim extension of this Sub-Block that was signed in 2014. In addition, Talisman holds a 60% interest in each of Block PM-305 and Block PM-314. In Block PM-3 CAA, Talisman operates facilities referred to as the ‘‘Southern Fields’’ and the ‘‘Northern Fields.’’ Licenses in PM-3 CAA are currently subject to negotiations for renewal. A multi-well drilling program is ongoing at Block PM-3 CAA. In PM-3 CAA, seven development wells were successfully drilled and completed and one exploration well was drilled in 2014. Production from PM-3 CAA averaged 29 mboe/d (net) in 2014. Talisman plans to continue its development drilling program at Block PM-3 CAA in 2015.

Talisman holds a 70% working interest in exploration licences for SB-309 and SB-310, offshore Sabah in east Malaysia. Two of three commitment wells were drilled on Block SB-309 and the Company has been given approval for an 18-month extension to the exploration period with respect to Block SB-310. In 2015, Talisman plans to progress its exploration commitments on the blocks.

Talisman holds a 60% equity interest and operatorship of the Kinabalu Oil PSC, which is a mature offshore oilfield in the Malaysian Sabah Basin. In 2014, the Company successfully completed a six infill well program that commenced in 2013. Production from Kinabulu averaged 7 mboe/d in 2014. In 2015, the Company plans to continue progressing the Kinabalu redevelopment project, with sanction currently expected in mid-2015.

In 2014, Talisman’s net share of production in Malaysia averaged 38 mboe/d, which accounted for approximately 30% of Talisman’s total Southeast Asia production.

Description and data as of March 4, 2015. For more information please visit Talisman's 2014 Annual Information Form for more information.



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