Kurdistan Region of northern Iraq

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Talisman has an interest in two blocks, Kurdamir and Topkhana, in the Kurdistan Region of Iraq covering approximately 119,000 acres (net to Talisman).

Talisman submitted a notice of withdrawal from the Joint Operating Agreement (‘‘JOA’’) on the Kurdamir Block to its partner WesternZagros in December 2014 after determining that future investment in a capital constrained environment was unlikely.

Talisman has informed the Kurdistan Regional Government (‘‘KRG’’) of its JOA withdrawal notice and its intention to withdraw from the PSC. Discussions between Talisman, WesternZagros and the KRG are ongoing to determine the forward actions of withdrawal.

In the Topkhana Block, extensive well testing of the Tophkana-2 (‘‘T-2’’) well was completed in 2014. The results indicate an oil interval based on pressure data but further drilling is required to understand this complex reservoir. The Company extended the second exploration sub-period to late 2015.

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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Repsol Oil & Gas Canada Inc.
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