TORONTO (Standard & Poor's CreditWire) Aug. 23, 1999--Standard & Poor's today affirmed its ratings for Talisman Energy Inc. (see list below) following the company's announced bid to acquire Alberta-based Rigel Energy Corp.(unrated). The outlook remains negative. The ratings on Talisman reflect the company's average competitive position, a growing and diversifying reserve base, and fairly conservative financial policies, which are offset by a high growth strategy. Talisman has made a series of acquisitions that have increased its year-end 1998 net proved reserve base to 353.1 million barrels of liquids and 2.4 trillion cubic feet of gas, increased production during the first half of 1999 to 246,000 barrels of oil equivalent per day, further diversified the company outside of Canada, and provided
