10:10 AM EST - Talisman Energy Inc. : said second-quarter profit dropped after a one time gain of $178 million in 2006 related to Canadian federal and provincial tax rate reductions. The company, Canada's No. 3 independent oil and gas producer, said net income fell to $550 million, or 53 cents a share, from the year-earlier figure of $686 million, or 62 cents, a result that was burnished by gains on asset sales and tax changes. Talisman Energy Inc.
shares T.TLM are trading off 11 cents at $18.89.
