Total says that Total E&P Canada Ltd., a wholly-owned subsidiary of TOTAL S.A., has increased the consideration under its offer to acquire all of the outstanding common shares of UTS Energy Corporation (UTS) from C$ 1.30 cash per share to C$ 1.75 cash per share and that it has extended the expiry time for the Offer from 8:00 p.m. (Toronto time) on April 16, 2009 to 8:00 p.m. (Toronto time) on April 27, 2009. All other terms of the Offer described in the Offeror’s offer and circular dated January 29, 2009, as amended by a notice of extension dated March 30, 2009, remain unchanged.

The increased offer price represents a premium of approximately 111% over the closing price of C$ 0.83 for the Common Shares on January 27, 2009, the last trading day immediately preceding the announcement of the Offeror’s intention to make the Offer.

The Offeror anticipates mailing a Notice of Variation in respect of the amended offer on or about April 14, 2009.

Tags: Total