FOR: TALISMAN ENERGY INC.

Talisman Establishes Top Scholarships at the University of Stavanger and University of British Columbia

JUL 6, 2006 - 23:59 ET


Talisman Energy Inc (TSX:TLM) (NYSE:TLM) recently signed sizeable scholarship agreements with the University of Stavanger (UiS) in Norway and the University of British Columbia (UBC) in Canada committing over $900,000 CAD.

In Norway, Talisman's subsidiary, Talisman Energy Norge AS, has agreed to cover two years of studies for eight students at the UiS every year for the next four years. The agreement provides scholarships valued at 100,000 NOK ($17,800 CAD) per year to eight foreign engineers completing a master degree in Petroleum Technology over two consecutive years. In addition, Talisman will also be offering both Norwegian and Foreign students paid summer jobs, suggestions for their thesis, and prizes of 10,000, 15,000 and 25,000 NOK ($1,780, $2,670, $4,450 CAD) to the three best master degree students every year.

In total, Talisman will contribute 3,600,000 NOK ($640,000 CAD) to the UiS. The Talisman scholarship program will be the only scholarship of its kind at the UiS.

In Canada, Talisman has also established two awards for students of Mechanical and Chemical Engineering at UBC. The endowment of $280,000 CAD will create a $9,000 CAD Talisman Energy Scholarship in each discipline annually.

These significant gifts are intended to cover the comprehensive costs for a full academic year for second- and third-year students in engineering including tuition and materials.
The Talisman Energy Scholarships are the highest value awards currently available to students in the Departments of Chemical Engineering and Mechanical Engineering at UBC and will be awarded for the first time during the 2006/2007 academic year.

According to Dr. Jim Buckee, President and Chief Executive Officer of Talisman, "Surging demand for energy coupled with the need for new, properly qualified entrants means that career opportunities in the energy sector are particularly favourable. These scholarships represent a long-term investment in our youth and will help to foster high level study, leading to careers in a challenging and rewarding industry which increasingly requires innovation and advanced technology."

With industry training and recruitment not keeping pace with the increasing growth in the energy sector, relationships between post-secondary institutions and industry are invaluable. For the universities, the agreements provide an opportunity to recognize excellence in academic achievement. For Talisman, the agreements provide a golden opportunity to recruit some of the best petroleum engineers in the world.

FOR FURTHER INFORMATION PLEASE CONTACT:
Talisman Energy Norge AS
Andreas Middelthon
External Affairs Manager
+47 52 00 16 02 or Mobile: +47 971 80 381
Email: amiddelthon@talisman-energy.no


or


Talisman Energy Inc.
Reg Manhas
Manager, Corporate Responsibility and Government Affairs
(403) 237-1449
(403) 231-3629 (FAX)
Email: rmanhas@talisman-energy.com