Total drops interest in Wessex

Offshore staff

BRISTOL, UK – Total has opted not to pursue its proposed acquisition of UK-based independent Wessex Exploration.

Wessex has a minority interest in the recent Zaedyus oil discovery off French Guiana, where Total is also a partner. The Wessex board believes Total’s offer undervalues the company.

Currently, Wessex remains fully funded for participation in a further Zaedyus appraisal well and at least one additional well. The Stena DrillMax ICE drillship should start operations in mid-2012.

4/12/2012

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