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Talisman Energy Up Again, But Off Day High on Q2 Result

Talisman Energy Inc (TLM.TO) has added another 20 cents to its gains of yesterday, when it rose 36 cents to 17.09, after it beat second quarter estimates. However, the stock is off a day high 17.51.

Talisman said net profit jumped to $603 million or 59 cents a share from $63 million or 6 cents a share in the previous corresponding period when the company was hit by losses on derivatives. Excluding items, the company earned $137 million from continuing operations, or 13 cents a share.

Analysts on average had forecast profit of 11.3 Canadian cents a share, according to Thomson Reuters I/B/E/S.

The company, which has been concentrating its efforts on shale gas prospects in Canada and the United States, said total revenue rose 5 percent to C$1.59 billion.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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