So I emailed Talisman about what kind of cash they have for production phase and their credit...all in all, they'll have no problem, dipsite this credit crunch...

In general, I'd say our balance sheet is strong. We don't have a burning need to go to the debt markets any time soon. We only discuss debt on a quarterly basis, but as of the end of 2Q, we had only drawn on $0.6 billion of our $2.7 billion revolving credit facility. Our preference is generally to fund E&P activities through free cash flow - consensus cash flow for 2008 is over $6 billion, while expected capex for the year is $5.5 billion. Obviously 2009 is less clear at this stage, given commodity prices, but historically we have almost always engineered our capital programmes to be within cash flow. Also, we are in the middle of selling non-core assets - as previously announced, we expect proceeds of $1.5 to $2 billion from that process - another source of funds.

Rocco