Total Energy Services Trust

Total Energy Services Trust

September 21, 2005 13:00 ET

Total Energy Services Trust Closes $27 Million Private Placement

CALGARY, ALBERTA--(CCNMatthews - Sept. 21, 2005) - Total Energy Services Trust (TSX:TOT.UN) ("Total") announces that it has closed the previously announced bought deal private placement of 2.0 million trust units at $13.50 per unit for gross proceeds of $27.0 million. The offering was completed by a syndicate of underwriters led by Sprott Securities Inc. and including RBC Dominion Securities Inc., Dundee Securities Corporation, FirstEnergy Capital Corp. and Westwind Partners Inc. Proceeds of the issue will be used in part to fund Total's 2005 capital expenditure budget of approximately $49.1 million, for future growth opportunities and for general trust and corporate purposes.

Total Energy Services Trust is a growth oriented oil and gas service 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