Total Energy Services Trust
TSX : TOT.UN

Total Energy Services Trust

March 26, 2008 16:48 ET

Total Energy Services Trust Plans to Repurchase Trust Units

CALGARY, ALBERTA--(Marketwire - March 26, 2008) - Total Energy Services Trust (the "Trust") (TSX:TOT.UN) announced today that it has filed a Notice with the Toronto Stock Exchange (the "TSX") to undertake a normal course issuer bid that will expire on March 27, 2009. The Trust has been informed that the TSX has accepted its notice to make the normal course issuer bid. All purchases of trust units ("Trust Units") will be effected through the facilities of the TSX and all Trust Units purchased will be cancelled by the Trust.

As of March 25, 2008, there were 29,450,000 Trust Units issued and outstanding. In connection with the normal course issuer bid, the Trust may purchase up to 1,472,500 Trust Units, being 5% of the total number of outstanding Trust Units, during the period from March 28, 2008 to March 27, 2009, subject to a maximum daily purchase limit of 21,457 Trust Units based on an average daily trading volume for the last six calendar months of 85,829 Trust Units.

From time to time, purchases of Trust Units may be undertaken at prices that represent an attractive investment opportunity for the Trust. The Trust expects that the purchase of Trust Units will benefit the remaining unitholders of the Trust by increasing their proportionate equity investment in the Trust.

On March 26, 2007, the Trust announced its intention to undertake a normal course issuer bid, which would remain in effect during the 12-month period ending March 27, 2008 (the "Prior Bid"). To date, the Trust has purchased a total of 415,802 Trust Units pursuant to the Prior Bid, at an average price of $6.79 per Trust Unit.

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.

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