Total Energy Services Trust

Total Energy Services Trust

May 15, 2006 11:50 ET

Total Energy Services Trust Announces Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - May 15, 2006) - Total Energy Services Trust (TSX:TOT.UN) ("Total") announces that its cash distribution for the month of May 2006 in the amount of Cdn. $0.095 per trust unit will be paid on June 15, 2006 to unitholders of record on May 31, 2006. The ex-distribution date is May 29, 2006.

Total also confirms the following increase to the exchange ratio of the exchangeable shares of Total Energy Services Ltd.

Effective Exchange
Date Ratio
Record of the as of
Date of Increase Increase Effective
Unit Distri- Opening Market in in Date
Distri- bution Exchange Price of Exchange Exchange of
bution per Unit Ratio Units (1) Ratio (2) Ratio Increase
April 30, May 15,
2006 $0.085 1.06121 $18.86 0.00478 2006 1.06599

(1) Market Price of Units is equal to the weighted average
trading price of Total's trust units for the five business
days ending on the Record Date of Unit Distribution.

(2) The Increase in Exchange Ratio is calculated by multiplying
the Distribution per Unit by the Opening Exchange Ratio and
dividing by the Market Price of Units.

Total Energy Services Trust is a growth oriented oil and gas service income trust involved in contract drilling services, drilling and production rentals and natural gas compression equipment fabrication, sales, rental and service. The trust units of Total are listed and trade on the TSX under the symbol "TOT.UN".

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Total Energy Services Trust
    Mr. Daniel K. Halyk
    Chief Executive Officer
    (403) 216-3921
    Total Energy Services Trust
    Mr. David A. Hawkins
    Vice-President Finance and Chief Financial Officer
    (403) 216-3920
    (403) 234-8731 (FAX)