Total S.A.
13 December 2005
Canada: Total acquires 100% of Deer Creek
Paris, December 13, 2005 - Total announces that it has completed the
amalgamation transaction of Deer Creek Energy Limited resulting in 100%
ownership of the common shares of Deer Creek.
Deer Creek is currently a public company trading on the Toronto Stock Exchange.
Deer Creek has advised it intends to de-list its common shares from the Toronto
Stock Exchange and cease to be a reporting issuer.
Deer Creek has an 84% interest in the leases of the Joslyn Project in the
Athabasca region of the Canadian province of alberta. The Joslyn Project will
be a multiphase development with estimated cumulative production of around 2
billion barrels of bitumen over 30 years. The majority of the resources will be
recovered using open pit mining techniques. In-situ steam-assisted gravity
drainage (SAGD) technology will also be used.
The completion of the acquisition of Deer Creek is a further step in Total's
expansion of its heavy oil portfolio in Canada, complementing Total Canada's 50%
working interest in the Surmont SAGD project.
Total is a major player in extracting and converting heavy oil due to its 47%
participation in the Sincor project in Venezuela, one of the world's largest
developments of its type, which currently produces more than 200,000 barrels per
day.
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals.
Total has more than 111,000 employees worldwide. More information can be found
on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
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