Total Energy Services Trust

Total Energy Services Trust

January 22, 2007 10:24 ET

Total Energy Services Trust Announces Preliminary 2007 Capital Expenditure Budget

CALGARY, ALBERTA--(CCNMatthews - Jan. 22, 2007) - Total Energy Services Trust (TSX:TOT.UN)("Total") announces its preliminary 2007 capital expenditure budget of $8.2 million. Included in this budget is $5.0 million for expansion of the natural gas compression rental fleet, $1.5 million of additions to the drilling and production rental equipment fleet, $1.3 million of equipment maintenance and upgrades (including the re-certification of one drilling rig) and $0.4 million of miscellaneous capital expenditures.

Total intends to finance its preliminary 2007 capital expenditure budget from operating cash flow and existing credit facilities. Total's 2007 capital expenditure budget is subject to change during the year depending on industry conditions and business opportunities.

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
    Daniel Halyk
    Chief Executive Officer
    (403) 216-3921
    Total Energy Services Trust
    Mark Kearl
    Vice-President Finance and Chief Financial Officer
    (403) 216-3920
    (403) 234-8731 (FAX)