Talisman Energy Generates a Record $6.2 Billion in Cash Flow and a Record $3.5 Billion in Net Income for 2008

Talisman Energy Inc. (TSX: TLM) (NYSE: TLM) reported its operating and financial results for 2008. Highlights for the year include:

- Cash flow(1) was a record $6.2 billion, up 42% from a year ago due to higher commodity prices; cash flow in the fourth quarter was $1.6 billion, up 54% from a year earlier, due primarily to realized gains on derivative contracts;

- Net income was $3.5 billion, an increase of 69% from a year earlier, and $1.2 billion for the quarter, almost double a year ago;

- Earnings from continuing operations(1) were $2.5 billion, an increase of 167%. The total for the quarter was $537 million, more than four times higher than the previous year, despite a significant decline in oil prices;

Canadian Superior Announces Initial Flow Test Results From "Endeavour" Well Offshore Trinidad

Canadian Superior Energy Inc. ("Canadian Superior", the "Company") (TSX: SNG)(NYSE Alternext US: SNG) is pleased to announce today that after extensive preparations flow testing of the "Endeavour" well offshore Trinidad on the "Intrepid" Block 5(c) commenced on March 1, 2009. During the initial flowing period of approximately 16 hours, a peak flow rate of 60.1 MMscf/d was obtained, which is the maximum rate allowed under the testing equipment specifications. A final flow rate of 56.4 MMscf/d was measured with a 48/64 inch choke with a FWHP of 4122psi. Multiple flow rate testing will be conducted over the next few days. The well has flowed "dry" natural gas with a gas gravity of approximately 0.584, approximately 0.3% CO2 with no production of water, condensate or solids, during this initial flow period.

InterOil Antelope-1 Well Flows at Record Gas Rate Of 382 MMcfd With 5,000 Bbls Per Day of Condensate

InterOil Corporation (AMEX:IOC) (POMSoX: IOC) today announced that its Antelope-1 well flowed at 382 million cubic feet of natural gas per day (MMcfd) with 5,000 barrels of condensate per day (BCPD) for a total 68,700 barrels of oil equivalent per day (BOEPD), setting a new record rate for the country of Papua New Guinea. The flow test recorded a maximum calculated rate at 545 MMcfd for a dry gas reading through a 6 inch capacity choke that was only opened to 3 1/2 inches or about 30% of capacity. Conservatively adjusting the dry gas flow rate of 545 MMcfd to compensate for 13 Bbls of condensate per MMcf results in the 382 MMcf effective gas flow rate reported above.

GE to Invest $150 Million in Partnership with ATP for Domestic Oil and Gas Production Unit in Gulf of Mexico

GE Energy Financial Services, a unit of GE (NYSE: GE), has agreed to invest $150 million in a partnership with Houston-based ATP Oil & Gas Corporation (NASDAQ: ATPG) which will own and operate a floating oil and gas production unit in deepwater Gulf of Mexico. Subject to completion of customary closing conditions, GE Energy Financial Services will invest $150 million for a 49 percent limited partnership stake, its first investment in a floating oil and gas production facility. ATP Oil & Gas Corporation will hold the remaining 51 percent stake and will serve as managing partner.