The Wall Street Journal-20080129-Cnooc Ltd-- Sale to Canadian Company Resolves Talisman Dispute

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Cnooc Ltd.: Sale to Canadian Company Resolves Talisman Dispute

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Cnooc Ltd. said it settled its dispute with Talisman Energy Inc. over Indonesia's Tangguh liquefied-natural-gas project by selling a 3.06% stake in the project to the Canadian company for US$212.5 million, reducing its own stake to 13.9% from 16.96%. Talisman had filed a lawsuit claiming a share of Cnooc's interest in the $5 billion Tangguh project.