Total E&P Canada Ltd. Announces Commencement of Offer to Acquire all of the Common Shares of UTS Energy Corporation



    CALGARY, Jan. 29 /CNW/ - Total E&P Canada Ltd. (the "Offeror"), a
wholly-owned subsidiary of Total S.A., today announced that it has commenced
its previously announced offer to acquire all of the outstanding common shares
of UTS Energy Corporation ("UTS") at a price of Can $1.30 per share (the
"Offer") by advertisement in the national edition of The Globe and Mail and in
La Presse. A copy of the Offer and related circular (the "Circular") has been
delivered to UTS and filed with the securities regulatory authorities in
Canada and will be publicly available through the internet under UTS' profile
at www.sedar.com.
    A request has been made to UTS for a list of its shareholders, holders of
options, holders of share appreciation rights and holders of deferred share
units for purposes of disseminating the Offer and Circular. The Offeror
expects to mail the Offer and Circular to all registered shareholders and
other security holders of UTS as soon as practicable following receipt of the
requested lists.
    The Offer is a 100% cash offer and represents a premium of approximately
57% over the closing price of UTS's shares on January 27, 2009 and
approximately 51% over the volume weighted average trading price for the prior
30 trading days. The Offer will be open for acceptance until March 30, 2009.
Further details of the Offer are contained in the Offer and Circular and in
the aforementioned advertisement.





For further information:

For further information: Questions and requests for assistance may be
directed to Kingsdale Shareholder Services Inc. at 1-800-749-9197 (toll free)
or (416) 867-2272 (outside North America)

Organization Profile

TOTAL E&P CANADA LTD.

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