Talisman acquire 10% in the Grosbeak discovery from Noreco
Noreco has announced the sale of its 20% share in licence PL378 to Talisman Energy. The licence includes part of the Grosbeak probable development. The US$43 million consideration paid by Talisman is 25% lower than our valuation. This reflects the immaturity of the Grosbeak discovery and the high level of risk still associated with the unitisation and potential development of the asset. This deal allows Noreco to reduce its capital exposure to an already busy schedule of probable ...