Deer Creek Energy Limited Completes Preferred Share Redemption CALGARY, Dec. 13 /CNW/ - Deer Creek Energy Limited ("Deer Creek" or the "Company") announced today the redemption of all its outstanding redeemable preferred shares resulting from its amalgamation on December 12, 2005 with 1202655 Alberta Ltd., a wholly-owned subsidiary of Total E&P Canada Ltd. ("Total Canada") for Cdn. $31.00 per share.

In addition, the Company has advised the Toronto Stock Exchange (the "Exchange") of the completion of the amalgamation and the redemption of the preferred shares and has filed an application to de-list the Deer Creek common shares from the Exchange. Deer Creek anticipates the common shares of the Company will cease to be publicly traded on the Exchange no later than December 14, 2005.

Deer Creek is a wholly-owned subsidiary of Total Canada engaged in the development of its Athabasca oil sands deposits through SAGD and mining extraction methods.

Trading Symbol - TSX: DCE
%SEDAR: 00010187E

For further information: please contact Deer Creek Energy Limited, Mr. Jean-Luc Guiziou, President & CEO or Mr. John S. Kowal, VP Finance & CFO at (403) 264-3777, (403) 264-3700 (fax), E-mail: deercrk@deercreekenergy.com, Website: www.deercreekenergy.com.