Total E&P Canada Acquires 94% of Synenco Energy

Synenco Energy Inc. (Synenco) announced that Total E&P Canada Ltd. (Total Canada), a wholly-owned subsidiary of Total S.A., has taken up approximately 94% of the issued and outstanding common class “A” voting shares (the Common Shares) of Synenco pursuant to Total Canada’s offer and take-over bid circular dated May 13, 2008, as amended.

Approximately 49.6 million Common Shares were deposited to the offer as of the expiry time on August 5. Total Canada has given notice to the depositary that it has taken up and accepted for payment all of the Common Shares deposited to the offer, and will pay for such shares within three business days in accordance with applicable securities laws and the acquisition agreement between Synenco and Total Canada. Synenco has also been advised that Total Canada intends to acquire the remaining Common Shares not deposited under the offer pursuant to the compulsory acquisition procedures of the Business Corporations Act (Alberta).

In accordance with the acquisition agreement between Synenco and Total Canada, all of the current members of Synenco’s board of directors will resign and be replaced with nominees of Total Canada following payment by Total Canada for the Common Shares taken up.