CALGARY, July 4 /CNW/ - Total E&P Canada Ltd. ("Total Canada"), a
wholly-owned subsidiary of Total S.A., announces that it has extended its
offer to acquire all of the issued and outstanding common class "A" voting
shares (the "Common Shares") of Synenco Energy Inc. ("Synenco") pursuant to
its offer and take-over bid circular dated May 13, 2008, as extended by a
notice of variation dated June 19, 2008. The previously announced offer by
Total Canada to acquire the Common Shares for $9.00 in cash for each Common
Share had a prior expiry time of 7:00 p.m. (Calgary time) on July 3, 2008.
As of 7:00 p.m. (Calgary time) on July 3, 2008, approximately 58% of the
outstanding Common Shares had been deposited to the offer. As a result, the
minimum condition to the offer that there be deposited and not withdrawn at
least 66?% of the outstanding Common Shares (on a diluted basis) has not been
satisfied or waived by Total Canada. Total Canada has therefore extended the
time in which Synenco shareholders may deposit their Common Shares under the
offer to 7:00 p.m. (Calgary time) on July 15, 2008.
Synenco shareholders who have already deposited their Common Shares to
the offer do not need to take any further action to accept the offer.
Shareholders who have not yet deposited their Common Shares in acceptance of
the offer may tender such shares to the offer at any time prior to 7:00 p.m.
(Calgary time) on July 15, 2008.
Total Canada has now received all required regulatory approvals in
connection with the offer.
For further information:
For further information: Derek Rogers, Public Affairs, Cell: (403)