Total Energy Services Trust

Total Energy Services Trust

January 15, 2007 10:28 ET

Total Energy Services Trust Announces Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - Jan. 15, 2007) - Total Energy Services Trust (TSX:TOT.UN) ("Total") announces that its cash distribution for the month of January 2007 in the amount of Cdn. $0.095 per trust unit will be paid on February 15, 2007 to unitholders of record on January 31, 2007. The ex-distribution date is January 29, 2007.

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

Record Date Opening Market
of Unit Distribution Exchange Price of
Distribution per Unit Ratio Units (1)
December 31, 2006 $ 0.095 1.11419 $ 12.08

Effective Exchange
Date of the Ratio as of
Record Date Increase in Increase in Effective
of Unit Exchange Exchange Date of
Distribution Ratio (2) Ratio Increase
December 31, 2006 0.01983 January 15, 1.13402

(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 energy services 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. Mark A. Kearl
    Vice-President Finance and Chief Financial Officer
    (403) 216-3920