TORONTO (Standard & Poor's) Feb. 15, 2006--Standard & Poor's Ratings Services today said Talisman Energy Inc.'s (BBB+/Negative/--) proposed acquisition of the combined interests of Shell U.K. Ltd. and Esso Exploration and Production U.K. Ltd., in the Fulmar and Auk fields in the Central North Sea, would have no effect on its ratings and outlook on the company. Given these fields' proximity to Talisman's Clyde and Orion fields, this bolt-on acquisition will serve to consolidate the company's operations in this area; however, it is unlikely to materially increase Talisman's near-term production and reserves in the Central North Sea. Talisman has consistently used this type of complementary bolt-on acquisition, in conjunction with its exploration and development activities in the region, to increase
