-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Vuu1PMqwIAfaD2bNgoWMBr1nJxEPbSYNeWJ7JWUqz4DvtFSnHM0fH12Apvn403kW
 JP90JQAN0F6NMrKawwZZ8w==

<SEC-DOCUMENT>0000903423-99-000086.txt : 19990218
<SEC-HEADER>0000903423-99-000086.hdr.sgml : 19990218
ACCESSION NUMBER:		0000903423-99-000086
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990217

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRECISION DRILLING CORP
		CENTRAL INDEX KEY:			0001013605
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		
		SEC FILE NUMBER:	005-52957
		FILM NUMBER:		99544120

	BUSINESS ADDRESS:	
		STREET 1:		112 4TH AVE SW
		STREET 2:		#700
		CITY:			CALGARY ALBERTA CANA
		STATE:			A0
		BUSINESS PHONE:		4032644882

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GUARDIAN CAPITAL INC /ADV
		CENTRAL INDEX KEY:			0001074532
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		COMMERCE CT W STE 3100
		STREET 2:		P O BOX 201
		CITY:			TORONTO ONTARIO M5L
		STATE:			A6
		BUSINESS PHONE:		4163648341

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GUARDIAN CAPITAL INC                                    /ADV
		DATE OF NAME CHANGE:	19990216
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<DESCRIPTION>SCHEDULE 13G
<TEXT>

                SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                           SCHEDULE 13G


            Under the Securities Exchange Act of 1934
                      (Amendment No. ____)*


                   Precision Drilling Corporation
- -----------------------------------------------------------------
                         (Name of Issuer)

                           Common Stock
- -----------------------------------------------------------------
                  (Title of Class of Securities)

                               74022D
              -------------------------------------
                          (CUSIP Number)

                        December 31, 1998
- -----------------------------------------------------------------
     (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:

      [X]  Rule 13d-1(b)
      [ ]  Rule 13d-1(c)
      [ ]  Rule 13d-1(d)


*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).


<PAGE>


- -----------------------                 -------------------------
CUSIP No. 74022D             13G           Page  2 of 6 Pages
- -----------------------                 -------------------------


- -----------------------------------------------------------------
1.      NAME OF REPORTING PERSON
        S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON


        Guardian Capital Inc.
- -----------------------------------------------------------------
2.      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
        (See instructions)
                                                      (a) [ ]
                                                      (b) [ ]
- -----------------------------------------------------------------
3.      SEC USE ONLY


- -----------------------------------------------------------------
4.      CITIZENSHIP OR PLACE OF ORGANIZATION

        Canada
- -----------------------------------------------------------------
                  5.     SOLE VOTING POWER

   NUMBER OF
                              3,610,631
                 ------------------------------------------------
     SHARES       6.     SHARED VOTING POWER
  BENEFICIALLY
    OWNED BY
                                   0
                 ------------------------------------------------
      EACH        7.     SOLE DISPOSITIVE POWER
   REPORTING
     PERSON
                                3,610,631
                 ------------------------------------------------
       WITH       8.     SHARED DISPOSITIVE POWER


                                 0
- -----------------------------------------------------------------
9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
        PERSON


                             3,610,631
- -----------------------------------------------------------------
10.     CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
        CERTAIN SHARES (See Instructions)


- -----------------------------------------------------------------
11.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9


                                 8.69%
- -----------------------------------------------------------------
12.     TYPE OF REPORTING PERSON (See Instructions)


                                  IA
- -----------------------------------------------------------------


<PAGE>


Item 1.

      (a)  Name of Issuer:  

                    Precision Drilling Corporation


      (b)  Address of Issuer's Principal Executive Offices:

                    Suite 700
                    112-4th Avenue SW
                    Calgary, Alberta T2P 0H3

Item 2.

      (a)  Name of Person Filing:

                    Guardian Capital Inc.

      (b)  Address or Principal Office or, if none, Residence:

                    Commerce Court West
                    Suite 3100
                    P.O. Box 201
                    Toronto, Ontario  M5L1E8

      (c)  Citizenship:

                    Canada

      (d)  Title of Class of Securities:

                    Common Stock

      (e)  CUSIP Number:

                    74022D

Item 3.    If this statement is filed pursuant to sections
           240.13d-1(b) or 240.13d-2(b) or (c), check
           whether the person filing is a(n):

           (a) [ ] Broker or dealer registered under section 15
                   of the Act (15 U.S.C. 78o);

           (b) [ ] Bank as defined in section 3(a)(6) of the Act
                   (15 U.S.C. 78c);

           (c) [ ] Insurance company as defined in section
                   3(a)(19) of the Act (15 U.S.C. 78c);


                        Page 3 of 6 Pages

<PAGE>


           (d) [ ] Investment company registered under section 8
                   of the Investment Company Act of 1940
                   (15 U.S.C. 80a-8);

           (e) [X] Investment adviser in accordance with 
                   section 240. 13d-1(b)(1)(ii)(E);

           (f) [ ] Employee benefit plan or endowment fund in
                   accordance with section 240.13d-1(b)(1)(ii)(F);

           (g) [ ] Parent holding company or control person in
                   accordance with section 240.13d-1(b)(1)(ii)(G);

           (h) [ ] Savings association as defined in section 3(b)
                   of the Federal Deposit Insurance Act (12 U.S.C.
                   1813);

           (i) [ ] Church plan that is excluded from the
                   definition of an investment company under
                   section 3(c)(14) of the Investment Company Act
                   of 1940 (15 U.S.C. 80a-3);

           (j) [ ] Group, in accordance with section
                   240.13d-1(b)(1)(ii)(J).

Item 4.    Ownership.

          (a)  Amount beneficially owned:

               See response to Item 9 on page 2.

          (b)  Percent of class:

               See response to Item 11 on page 2.

          (c)  Number of shares as to which such person has:

               (i)  sole power to vote or to direct the vote:

                    See response to Item 5 on page 2.

               (ii) shared power to vote or to direct the vote:

                    See response to Item 6 on page 2.

               (iii) sole power to dispose or to direct the disposition of:

                    See response to Item 7 on page 2.

               (iv) shared power to dispose or to direct the disposition of:

                    See response to Item 8 on page 2.


                        Page 4 of 6 Pages

<PAGE>


Item 5.    Ownership of Five Percent or Less of a Class.

           Not applicable

Item 6.    Ownership of More than Five Percent on Behalf of
           Another Person.

           Not applicable.

Item 7.    Identification and Classification of the Subsidiary
           Which Acquired the Security Being Reported on by the
           Parent Holding Company.

           Not applicable.

Item 8.    Identification and Classification of Members of the
           Group.

           Not applicable.

Item 9.    Notice of Dissolution of Group.

           Not applicable.


                        Page 5 of 6 Pages

<PAGE>


Item 10.  Certification.

          By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were acquired and are held in
          the ordinary course of business and were not acquired and are not held
          for the purpose of or with the effect of changing or influencing the
          control of the issuer of the securities and were not acquired and are
          not held in connection with or as a participant in any transaction
          having that purpose or effect.


                             SIGNATURE

          After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.

Dated: February 16, 1999




                         By /s/ Mark A.F. Golding
                           ---------------------------
                            Name:  Mark A.F. Golding
                            Title: Chairman & Chief Exective Officer


                        Page 6 of 6 Pages


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
