FEE RULE

EX-4 5 form13502f1.htm FORM 13-502F1 FEE RULE

Exhibit 4

FEE RULE

FORM 13-502F1

ANNUAL PARTICIPATION FEE FOR REPORTING ISSUERS

Reporting Issuer Name:

Talisman Energy Inc.

Financial Year Ending, used in

Calculating the participation fee:

December 31, 2003

Complete Only One of 1, 2 or 3:

1. Class 1 Reporting Issuers (Canadian Issuers – Listed in Canada and/or the U.S.)

Market value of equity securities: Total number of equity securities of a class or series outstanding at the end of the issuer’s most recent financial year	127,998,728.6

Simple average of the closing price of that class or series as of the last trading day of each of the months of the financial year (under paragraph 2.5(a)(ii)(A) or (B) of the Rule) – (calculated using the TSX closing prices) X	62.26	(Thousands of Canadian Dollars)

Market value of class or series =	$7,969,200,805.28	$7,969,201 (A)

Market value of corporate debt or preferred shares of Reporting Issuer or Subsidiary Entity referred to in Paragraph 2.5(b)(ii): [Provide details of how determination was made.]		$2,933,675 (B)

Canadian Debt	Thousands of Canadian Dollars
$75 MM 9.80%	$ 79,826
$173.857 MM 8.06 %	$ 202,308
$385 MM 5.80%	$ 406,727
Canadian Debt Total	$ 688,861

US Debt	Thousands of Canadian Dollars
$300 MM 7.25% (USD$339,211,500 – Foreign Exchange Rate 1.2924)	$ 438,397
$175 MM 7.125% (USD$196,568,750 – Foreign Exchange Rate 1.2924)	$ 254,045
$50 MM 6.89% (USD$57,136,500 – Foreign Exchange Rate 1.2924)	$ 73,843
$200 MM 6.96% (USD$214,051,000 – Foreign Exchange Rate 1.2924)	$ 276,640
$25 MM 6.71% (USD$25,342,125 – Foreign Exchange Rate 1.2924)	$ 32,752
$100 MM 6.68% (USD$110,445,000 – Foreign Exchange Rate 1.2924)	$ 142,739
US Debt Total	$ 1,218,416

Preferred Shares	Thousands of Canadian Dollars
$150 MM 8.90% (USD$155,580,000 – Foreign Exchange Rate 1.2924)	$ 201,072
$150 MM 9.00% (USD$152,880,000 – Foreign Exchange Rate 1.2924)	$ 197,582
Preferred Shares Total	$ 398,654

United Kingdom Eurobond	Thousands of Canadian Dollars
£250 MM 6.625% (GBP - £272,151,250– Foreign Exchange Rate 2.3066)	$ 627,744
United Kingdom Eurobond Total	$ 627,744

Total Capitalization (add market value of all classes and series of equity securities and market value of debt and preferred shares) (A) + (B) =		$10,902,876

Total fee payable in accordance with Appendix A of the Rule		$75,000.00

Late Fee, if applicable (please include the calculation pursuant to section 2.9 of the Rule)		N/A

# of 4

2. Class 2 Reporting Issuers (Other Canadian Issuers)

Financial Statement Values (use stated values from the audited financial statements of the reporting issuer as at its most recent audited year end):

Retained earnings or deficit
Contributed surplus
Share capital or owners’ equity, options, warrants and preferred shares (whether such shares are classified as debt or equity for financial reporting purposes)
Long term debt (including the current portion)
Capital leases (including the current portion)
Minority or non-controlling interest
Items classified on the balance sheet between current liabilities and shareholders’ equity (and not otherwise listed above)
Any other item forming part of shareholders’ equity and not set out specifically above

Total Capitalization

Total Fee payable pursuant to Appendix A of the Rule

Late Fee, if applicable (please include the calculation pursuant to section 2.9 of the Rule)

3. Class 3 Reporting Issuers (Foreign Issuers)

Market value of securities: If the issuer has debt or equity securities listed or traded on a marketplace located anywhere in the world (see paragraph 2.7(a) of the Rule):
Total number of the equity or debt securities outstanding at the end of the reporting issuer’s most recent financial year
Simple average of the published closing market price of that class or series of equity or debt securities as of the last trading day of each of the months of the financial year on the marketplace on which the highest volume of the class or series of securities were traded in that financial year. X
Percentage of the class registered in the name of, or held beneficially by, an Ontario person X
(Repeat the above calculation for each class or series of equity or debt securities of the reporting issuer) =

Capitalization (add market value of all classes and series of securities)

Or, if the issuer has no debt or equity securities listed or traded on a marketplace located anywhere in the world (see paragraph 2.7(b) of the Rule):

Financial Statement Values (use stated values from the audited financial statements of the reporting issuer as at its most recent audited year end):

Retained earnings or deficit
Contributed surplus
Share capital or owners’ equity, options, warrants and preferred shares (whether such shares are classified as debt or equity for financial reporting purposes)
Long term debt (including the current portion)
Capital leases (including the current portion)
Minority or non-controlling interest
Items classified on the balance sheet between current liabilities and shareholders’ equity (and not otherwise listed above)
Any other item forming part of shareholders’ equity and not set out specifically above

Percentage of the outstanding equity securities registered in the name of, or held beneficially by, an Ontario person X

Capitalization

Total Fee payable pursuant to Appendix A of the Rule

Late Fee, if applicable (please include the calculation pursuant to section 2.9 of the Rule)

Notes and Instructions

This participation fee is payable by reporting issuers other than investment funds that do not have an unregistered investment fund manager.

The capitalization of income trusts or investment funds that have no investment fund manager, which are listed or posting for trading, or quoted on, a marketplace in either or both of Canada or the U.S. should be determined with reference to the formula for Class 1 Reporting Issuers. The capitalization of any other investment fund that has no investment fund manager should be determined with reference to the formula for Class 2 Reporting Issuers.

All monetary figures should be expressed in Canadian dollars and rounded to the nearest thousand. Closing market prices for securities of Class 1 and Class 3 Reporting Issuers should be converted to Canadian dollars at the [daily noon] in effect at the end of the issuer’s last financial year, if applicable.

A reporting issuer shall pay the appropriate participation fee no later than the date on which it is required to file its annual financial statements.

The number of listed securities and published market closing prices of such listed securities of a reporting issuer may be based upon the information made available by a marketplace upon which securities of the reporting issuer trade, unless the issuer has knowledge that such information is inaccurate and the issuer has knowledge of the correct information.

Where the securities of a class or series of a Class 1 Reporting Issuer have traded on more than one marketplace in Canada, the published closing market prices shall be those on the marketplace upon which the highest volume of the class or series of securities were traded in that financial year. If none of the class or series of securities were traded on a marketplace in Canada, reference should be made to the marketplace in the United States on which the highest volume of that class or series were traded.

Where the securities of a class or series of securities of a Class 3 Reporting Issuer are listed on more than one exchange, the published closing market prices shall be those on the marketplace on which the highest volume of the class or series of securities were traded in the relevant financial year.