Total Energy Services Trust

Total Energy Services Trust

October 16, 2006 10:17 ET

Total Energy Services Trust Announces Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - Oct. 16, 2006) - Total Energy Services Trust (TSX:TOT.UN) ("Total") announces that its cash distribution for the month of October 2006 in the amount of Cdn. $0.095 per trust unit will be paid on November 15, 2006 to unitholders of record on October 31, 2006. The ex-distribution date is October 27, 2006.

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

Date Exchange
of the Ratio
Record Increase Increase as of
Date of Opening Market in in Effective
Unit Distribution Exchange Price of Exchange Exchange Date of
Distribution per Unit Ratio Units (1) Ratio (2) Ratio Increase
September 30, October 16,
2006 $0.095 1.09050 $14.59 0.00710 2006 1.09760

(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. David A. Hawkins
    Vice-President Finance and Chief Financial Officer
    (403) 216-3920
    (403) 234-8731 (FAX)