Total Energy Services Trust

Total Energy Services Trust

December 07, 2006 18:02 ET

Total Energy Services Trust Announces Regular and Special Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - Dec. 7, 2006) - Total Energy Services Trust (TSX:TOT.UN) ("Total" or the "Trust") announces that its cash distribution for the month of December 2006 in the amount of Cdn. $0.095 per trust unit plus a special cash distribution in the amount of Cdn. $0.12 per trust unit ($0.215 per unit in total) will be paid on January 15, 2007 to unitholders of record on December 29, 2006. The ex-distribution date is December 27, 2006. The special cash distribution represents the approximate amount of the Trust's 2006 taxable income in excess of regular distributions made to unitholders during 2006.

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

Date of Exchange
the Ratio
Increase Increase as of
Record Date Opening Market in in Effective
of Unit Distribution Exchange Price of Exchange Exchange Date of
Distribution per Unit Ratio Units (1) Ratio (2) Ratio Increase
November 30, December
2006 $ 0.095 1.10548 $ 12.06 0.00871 15, 2006 1.11419

(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