2009 spending will balance with cash flow and asset sales
7:03AM Talisman Energy plans to balance cash and spending in 2009 (TLM) 9.87 : Co announces its capital spending plans for 2009. The priorities for the coming year are: Preserving financial strength and flexibility in a low price environment. Advancing the strategy for long-term growth and building on the success from last year. Continuing the focus on efficiency and costs. The co has budgeted for exploration and development spending of approx $3.6 bln in 2009 and plans to fund these capital programs from cash flow and disposition proceeds. Including non-cash lease costs, total capital spending is expected to be approx $4 bln. Talisman has set these plans assuming a US$40/bbl WTI oil price and a US$5/mmbtu NYMEX natural gas price in 2009.