Total Energy Services Trust

Total Energy Services Trust

March 15, 2007 10:02 ET

Total Energy Services Trust Announces Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - March 15, 2007) - Total Energy Services Trust (TSX:TOT.UN) ("Total") announces that its cash distribution for the month of March 2007 in the amount of Cdn. $0.095 per trust unit will be paid on April 16, 2007 to unitholders of record on March 30, 2007. The ex-distribution date is March 28, 2007.

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

Effective Exchange
Date Ratio
of the as of
Record Date Opening Market Increase in Increase in Effective
of Unit Distribution Exchange Price of Exchange Exchange Date of
Distribution per Unit Ratio Units (1) Ratio (2) Ratio Increase

February 28, $ 0.095 1.14292 $ 11.52 0.00943 March 15, 1.15235
2007 2007

(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 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