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CALGARY - Talisman Energy Inc. (TSX:TLM) plans to spend up to $1.3 billion by the end of 2009 evaluating the natural gas potential within its unconventional land holdings in North America, the company said Tuesday as part of its new strategy.

The spending includes $900 million for development programs in areas where the company has already seen early success.

"This includes drilling approximately 200 wells in the Outer Foothills, Montney and Bakken areas," Talisman president and chief executive John Manzoni said in a statement.

"Additionally, we expect to spend up to $420 million on pilot programs in other parts of the Outer Foothills and Montney, as well as in Quebec and Appalachia. By the end of 2009, we will be able to make informed choices about ongoing levels of investment into our unconventional resource plays."

Talisman is expected to provide further details about its new corporate strategy Wednesday morning.

The company said it also has potential non-core asset sales of 35,000 to 45,000 barrels of oil equivalent per day of production that could raise $1.5 billion to $2 billion by the end of 2009 as it exits some countries such as the Netherlands, Denmark and Trinidad and Tobago.

Talisman said there was also the potential for additional non-core asset sales in the U.K. and North America.

In releasing its 2007 results in late February, the company launched a review of its portfolio to determine investment opportunities for growth in 2011 and beyond.

Manzoni, a former BP executive who took over from Jim Buckee eight months ago, has said the company will focus its portfolio on growing its North American natural gas plays as well as its existing offshore operations in Southeast Asia and Norway.

The new strategy could also include pursuing projects in North Africa and in South America.

Shares of Talisman closed up 96 cents at $24.90 on the Toronto Stock Exchange on Tuesday.