TOT:CC - Total Energy Services Inc. Announces Dismissal of Claim Against Savanna Energy Services Corp.

CALGARY, Alberta, April 12, 2023 (GLOBE NEWSWIRE) -- Total Energy Services Inc. (“Total”) (TSX:TOT) is pleased to announce that the Alberta Court of Appeal has dismissed an appeal by Western Energy Services Corp. (“Western”) of two previous court decisions dismissing Western’s claim against Savanna Energy Services Corp. (“Savanna”) for a $20 million break fee following the acquisition of Savanna by Total in 2017. Savanna is a wholly-owned subsidiary of Total.

Headquartered in Calgary, Alberta, Total Energy provides contract drilling services, rentals and transportation services, well servicing and compression and process equipment and service to the energy and other resource industries from operation centers in North America and Australia. The common shares of Total Energy are listed and trade on the TSX under the symbol TOT.

For further information, please contact Daniel Halyk, President & CEO at (403) 216-3921 or by e-mail at: investorrelations@totalenergy.ca or visit our website at www.totalenergy.ca.

The TSX has neither approved nor disapproved of the information contained herein.