Total Energy Services Inc.
TSX : TOT

Total Energy Services Inc.

July 17, 2009 15:16 ET

Total Energy Services Inc. Plans to Repurchase Shares

CALGARY, ALBERTA--(Marketwire - July 17, 2009) - Total Energy Services Inc. (TSX:TOT) ("Total") announced today that it has filed a Notice with the Toronto Stock Exchange (the "TSX") to undertake a normal course issuer bid that will expire on July 20, 2010. Total has been informed that the TSX has accepted its notice to make the normal course issuer bid. All purchases of common shares (the "Shares") will be effected through the facilities of the TSX and all Shares purchased will be cancelled by Total.

As of July 16, 2009, there were 29,106,730 Total Shares issued and outstanding. In connection with the normal course issuer bid, Total may purchase up to 1,445,336 Shares, being 5% of the total number of outstanding Shares, during the period from July 15, 2009 to July 14, 2010, subject to a maximum daily purchase limit of 17,692 Shares based on an average daily trading volume for the last six calendar months of 70,768 Shares (and trust units of Total Energy Services Trust, as noted below).

From time to time, purchases of Shares may be undertaken at prices that represent an attractive investment opportunity for Total. Total expects that the purchase of Shares will benefit the remaining shareholders of Total by increasing their proportionate equity investment in Total.

On March 26, 2008, Total's predecessor, Total Energy Services Trust, announced its intention to undertake a normal course issuer bid, which would remain in effect during the 12-month period ending March 27, 2009 (the "Prior Bid"). Under that normal course issuer bid, Total Energy Services Trust purchased a total of 400,000 trust units, at an average price of $4.83 per trust unit. Pursuant to a Plan of Arrangement dated May 20, 2009, Total Energy Services Trust became Total, and trust units of Total Energy Services Trust were converted to shares on a one for one basis.

Total is a growth oriented energy services corporation involved in contract drilling services, drilling and production rentals and natural gas compression equipment fabrication, sales, rental and service. The shares of Total are listed and trade on the TSX under the symbol TOT.

TOTAL ENERGY and the TOTAL ENERGY logo are registered trademarks of Total Energy Services Ltd.

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