Talisman Energy shares jump on renewed Repsol talks

Tue Dec 9, 2014 10:36am EST
 
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CALGARY, Alberta Dec 9 (Reuters) - Talisman Energy Inc shares rose as much as 16 percent on Tuesday after the Canadian oil and gas producer said it was again in talks with Spain's Repsol SA and others over what it called "various transactions."

Talisman, whose stock had plunged to its lowest since 2000 as it mulls what to do with its struggling North Sea operations, late on Monday confirmed a Bloomberg report that it had re-entered talks with Repsol after negotiations between the two companies stalled earlier this year.

"Talisman acknowledges that it has been approached by a number of parties, including Repsol, with regards to various transactions," it said in a statement. "There is no assurance that any transaction will be agreed."

The company said it would not comment further until it is "appropriate" to announce a potential transaction.

Shares of Talisman were up 11 percent at C$4.79 in midmorning trading on the Toronto Stock Exchange after touching C$4.98 earlier in the session. The stock had dropped to C$3.96 on Monday, its lowest since March 2000, as crude oil prices reached a five-year low. (Reporting by Scott Haggett; Editing by Lisa Von Ahn)