Total Energy Services Trust

Total Energy Services Trust

April 19, 2007 16:59 ET

Total Energy Services Trust Announces Redemption of Exchangeable Shares

CALGARY, ALBERTA--(CCNMatthews - April 19, 2007) - Total Energy Services Trust (TSX:TOT.UN) (the "Trust") announces that Total Energy Services Ltd. ("Total Energy") will redeem all of its outstanding series 1 exchangeable shares (the "Shares") on June 6, 2007 (the "Redemption Date") in accordance with the terms of the Shares. There are currently 401,836 Shares outstanding.

The purchase price for the Shares, in accordance with the terms of Total Energy's articles, will be fully satisfied by the delivery of trust units of Total Energy Services Trust ("Trust Units") in an amount equal to the number of Shares multiplied by the exchange ratio applicable on the last business day prior to the Redemption Date, rounded to the nearest whole Trust Unit. A notice of redemption will be mailed today to registered holders of the Shares, setting out the procedures and requirements to be followed in order to receive Trust Units. Following the Redemption Date, the rights of a holder of Shares will be limited to receiving the applicable amount of Trust Units upon presentation and surrender of the certificate representing the Shares.

Following the Redemption Date, Total Energy Services Trust will be the sole shareholder of Total Energy.

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.

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