Standard & Poor's assigned a rating to Talisman Energy Inc.'s ú250 million senior unsecured bond issue on March 22, 2002. The ratings on Talisman reflect the company's competitive position, drill bit- and acquisition-focused growth strategy, and conservative financial risk profile. Risks associated with Talisman's high-growth strategy are balanced with low geologic risk in most of the company's major projects, increasing diversification, and its proven ability to return to its stated debt targets subsequent to acquisitions. At Dec. 31, 2001, Talisman's proven reserve base included 738 million barrels of liquids and 4.5 trillion cubic feet of natural gas, or 1.5 billion barrels of oil equivalent (boe), and the company's production mix remains at 60% oil and 40% natural gas. Talisman's reserves
