Sasol To Pay $1B For Talisman Shale Stake

Law360, New York (December 20, 2010, 8:14 PM EST) -- South African energy and chemicals company Sasol Ltd. has agreed to acquire a 50 percent stake in Calgary-based Talisman Energy Inc.'s Farrell Creek shale gas assets for CA$1.05 billion (US$1.03 billion), the companies announced Monday.

The influx of cash allows Talisman to develop the area, in British Columbia's Montney Basin, while also giving Sasol the opportunity to gain more experience in shale gas operations, executives for the companies said.

Talisman will keep the other 50 percent interest in Farrell Creek and continue to operate the gas...
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