Total E&P Canada Ltd.(Total Canada) has increased the offer price for the issued and outstanding common class "A" voting shares (the "Common Shares") of Synenco Energy Inc. (Synenco) from Can. $9.00 in cash to Can. $10.25 in cash per share pursuant to its offer and take-over bid circular dated May 13, 2008, as extended by notices of variation dated June 19, 2008, July 4, 2008 and July 16, 2008. The increased offer price represents a premium of approximately 32% over the closing price of Can. $7.79 for the Common Shares on the last trading day prior to the announcement of the original offer.

As a result of the increase of the offer price, Total Canada has entered into lock-up agreements with each of D. E. Shaw Laminar Portfolios, L.L.C. and Wellington Management Company, LLP, which collectively own approximately 23% of the outstanding Common Shares pursuant to which they have agreed to tender to the offer and not withdraw, except in certain limited circumstances, all of their Common Shares.

Total Canada has extended the time in which Synenco shareholders may deposit their Common Shares under the offer to 7:00 p.m. (Calgary time) on August 5, 2008.

All Synenco shareholders who tender their Common Shares to the offer will receive the increased price for their Common Shares in the event that Total Canada takes up Common Shares under the offer, including those shareholders who have already tendered their Common Shares to the offer (which, on July 15th, represented approximately 58% of the Common Shares). Shareholders who have already tendered to the offer do not need to take any further action and will automatically benefit of the new price.

Holders of Common Shares who have not yet deposited their Common Shares in acceptance of the offer may tender such shares to the offer at any time prior to 7:00 p.m. (Calgary time) on August 5, 2008.

The board of directors of Synenco has unanimously determined that the offer, as amended, is fair to Synenco shareholders and is in the best interests of Synenco and its shareholders and unanimously recommends to its shareholders that they accept Total's offer, as amended.

Tags: Synenco Energy Inc., Total