Talisman says stock buyback plan comes after asset sales

Wed Mar 6, 2013 1:56pm EST
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CALGARY, Alberta, March 6 (Reuters) - Talisman Energy Inc will not buy back a portion of its own shares until the company completes an asset sale program, its chief executive said on Wednesday.

Hal Kvisle told reporters that a share repurchase program for which some investors have pressed would only come if Talisman successfully completed its plan to sell $2 billion to $3 billion in assets over the next 12 to 18 months.

"In terms of share buybacks, the board has never been opposed to that," Kvisle said. "I expect with a good divestment program we would be doing that."