UTS Energy Corporation Acquired by Total E&P Canada Ltd.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

CALGARY, Oct 1 /CNW/ - UTS Energy Corporation ("UTS") is pleased to announce the successful conclusion of the plan of arrangement (the "Arrangement") whereby Total E&P Canada Ltd. acquired all of the issued and outstanding common shares of UTS (the "UTS Shares") for cash consideration of approximately $1.5 billion or $3.08 per UTS Share. Under the Arrangement, UTS Shareholders also received for each UTS Share held 0.1 common shares of SilverBirch Energy Corporation.

"Today's announcement reflects the success UTS has seen over the past years as we executed our strategy of adding value to our assets. I would like to sincerely thank the Board of Directors and the team at UTS for their diligence in bringing this company to a successful conclusion. I would also like to thank the shareholders of UTS for their continued support," said William Roach, President and Chief Executive Officer of UTS.

Approval of the transaction has been received by both the Court of Queen's Bench of Alberta and under the Investment Canada Act. It is expected that UTS shares will cease trading on the Toronto Stock Exchange in the near future.


Advisory Regarding Forward-Looking Information

This news release contains "forward-looking information", within the meaning of applicable securities laws. The use of any of the words "proposed", "will", "may", "expected" and similar expressions are intended to identify forward-looking information. More particularly and without limitation, this news release contains forward-looking information concerning the anticipated delisting of the UTS Shares.

Although UTS believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because UTS can give no assurance that it will prove to be correct.

The forward-looking information contained in this news release is made as of the date hereof and UTS undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.



For further information:

Dr. William J.F. Roach
President and Chief Executive Officer
403-538-7030.