We conduct our business activities with integrity and show respect for human dignity and the rights of the individual. We support the principles of, and promote respect for, the Universal Declaration of Human Rights.

We lead by example, demonstrating values of tolerance and respect throughout our conduct. When considering new investments, we review associated potential human rights issues and their relationship to our operations and we liaise with stakeholders at an early stage of business activities.

We promote adherence to and respect for human rights principles in our areas of operation and will not be complicit in human rights abuses.

We strive to advance best practices with host governments, partners and third parties and we seek consistency with our Security Policy, which is based on the Voluntary Principles on Security and Human Rights.

On December 10, 2008, the United Nations celebrated the 60th anniversary of the Universal Declaration of Human Rights (UDHR). This anniversary was an opportunity to celebrate the enduring importance of the UDHR and provides a global opportunity to recognize the fundamental rights of all people. Talisman supports the principles of and promotes respect for the UDHR, which is explicitly referred to and endorsed in the Company’s PBCE.

2008 was also the 10th anniversary of the Company’s initial involvement in an oil project in Sudan, from which the Company fully divested its interest in 2003. Involvement in this project compelled the Company to face critical issues related to human rights, security and the role of companies in conflict zones. Lessons learned from the Company’s experience during that time continue to be applied across Talisman’s global operations.

Nowhere is this more apparent than in the Company’s approach to managing its security and human rights issues.

While emerging issues are difficult to predict, we have learned that due diligence prior to any investment is one of the best ways to mitigate potential issues in our operating areas. Prior to investment, we perform an extensive evaluation of the technical and economic challenges as well as the commercial, legal, political, regulatory, environmental, security and human rights issues related to any investment opportunity. Our decision to invest is based on these above-ground evaluations as well as our resource assessments. Beyond pre-investment due diligence, Talisman also assesses and manages above-ground issues on an ongoing basis, including thorough stakeholder engagement and evaluation of operating performance against our PBCE, specifically the human rights and security components.

Security and Human Rights in Colombia
In Colombia, Talisman has operated and non-operated interests in 11 blocks in the Greater Llanos region. In 2008, Talisman was awarded operated interests in Blocks CPE 8 and CPO 9. An extensive due diligence process was conducted to identify the risks associated with these blocks, including internal conflict and narcotics-related violence. To address security issues and corporate responsibility risks associated with working in Blocks CPE 8 and CPO 9, Talisman has taken various precautionary measures and incorporated the guidelines established by the Voluntary Principles into its activities. These include conducting preliminary security and impact assessments in the blocks prior to initiating any on-the-ground operational activity and developing a documented stage gate mitigation process.

The concept of stage gates is being integrated into various points of the proposed exploration program for each operated block. Certain metrics such as security and safety standards and community consultation must be met for the project to proceed further. Prior to proceeding through each gate, considerable analysis is conducted with regard to human rights, community relations, biodiversity protection and security. It is important to note that the relatively short timeline between the stage gates demands diligence and attention to detail to ensure that not only the appropriate decision can be made at the correct time, but also that all logistical demands of the exploration program are met. At year-end, both Blocks CPE 8 and CPO 9 were at the first stage of the preliminary security analysis.

In Colombia, agreements have been entered into by the operator of each of the Tangara, Niscota and El Caucho Blocks in which Talisman participates with the National Petroleum Agency and a Colombian trust company. In addition, the National Petroleum Agency has entered into agreements with the Colombian military for the same blocks. These agreements establish the terms under which funds contributed by the operator are used by the trust company to purchase in-kind support for the security operations provided by the Colombian military. Included in the terms of these agreements are the requirements that only the agreed upon in-kind support is provided by the trust company to the Colombian
military, and that the Colombian military complies with international and  humanitarian law treaties to which Colombia has subscribed.

Talisman representatives in Colombia have been active in ongoing dialogue related to the implementation of the Voluntary Principles and other human rights issues. These discussions have included the Canadian and Colombian governments, the Colombian Petroleum Association and other local organizations.