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<SEC-DOCUMENT>0000950142-06-000070.txt : 20060113
<SEC-HEADER>0000950142-06-000070.hdr.sgml : 20060113
<ACCEPTANCE-DATETIME>20060112195849
ACCESSION NUMBER:		0000950142-06-000070
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20050930
FILED AS OF DATE:		20060113
DATE AS OF CHANGE:		20060112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRECISION DRILLING TRUST
		CENTRAL INDEX KEY:			0001013605
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14534
		FILM NUMBER:		06528104

	BUSINESS ADDRESS:	
		STREET 1:		150 - 6TH AVENUE S.W.
		STREET 2:		SUITE 4200
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3Y7
		BUSINESS PHONE:		403-264-0251

	MAIL ADDRESS:	
		STREET 1:		150 - 6TH AVENUE S.W.
		STREET 2:		SUITE 4200
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3Y7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRECISION DRILLING CORP
		DATE OF NAME CHANGE:	19960506
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k_q305int-a.txt
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>

================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                   PURSUANT TO SECTION 13A-16 OR 15D-16 OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                              For January 12, 2006

                        Commission File Number: 001-14534


                            PRECISION DRILLING TRUST
             (Exact name of registrant as specified in its charter)


                           4200, 150 - 6TH AVENUE S.W.
                                CALGARY, ALBERTA
                                 CANADA T2P 3Y7
                    (Address of principal executive offices)


         Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.

                     Form 20-F [_]           Form 40-F   [X]

         Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1). _______

         Note: Regulation S-T Rule 101(b)(1) only permits the submission in
paper of a Form 6-K if submitted solely to provide an attached annual report to
security holders.

         Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): _______

         Note: Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.

         Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
                        Yes [_]                No  [X]

         If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-  N/A
                                                 -------

================================================================================

<PAGE>


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


Date:  January 12, 2006


                                     PRECISION DRILLING TRUST
                                     By its Administrator PRECISION DRILLING
                                     CORPORATION


                                     By: /s/ Darren Ruhr
                                         ----------------------------------
                                       Name:  Darren Ruhr
                                       Title: Vice President, Corporate Services
                                              and Corporate Secretary


<PAGE>

                                 EXHIBIT INDEX


EXHIBIT          TITLE
- -------          -----

 99.1            Third Quarter 2005 consolidated financial
                 statements and notes.

 99.2            Certification of Chief Executive Officer.

 99.3            Certification of Chief Financial Officer.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex991form6k_q305int-a.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                  EXHIBIT 99.1
                                                                  ------------


PRECISION DRILLING TRUST
Consolidated Balance Sheets

                                                 SEPTEMBER 30,    September 22,
                                                          2005             2005
- --------------------------------------------------------------------------------
                                                   (unaudited)
ASSETS

Current assets:
     Cash                                           $    1,100          $   100

- --------------------------------------------------------------------------------
                                                    $    1,100          $   100
================================================================================




LIABILITIES AND UNITHOLDERS' EQUITY

Current liabilities:
     Promissory note (Note 2)                        $   1,000          $     -


Unitholders' equity:
     Trust units (Note 3)                                  100              100

Subsequent event (Note 4)
- --------------------------------------------------------------------------------
                                                     $   1,100         $    100
================================================================================

SEE ACCOMPANYING NOTES TO CONSOLIDATED BALANCE SHEETS.


<PAGE>

PRECISION DRILLING TRUST
Notes to Consolidated Balance Sheets (unaudited)

================================================================================


1.   BASIS OF PRESENTATION:

     Precision Drilling Trust (the "Trust") is an unincorporated open-ended
     trust governed by the laws of the Province of Alberta and created pursuant
     to a Declaration of Trust dated September 22, 2005.

     The consolidated balance sheets include the accounts of the Trust and its
     subsidiaries, all of which are wholly-owned as at September 30, 2005.

     A statement of cash flows has not been prepared as it is management's
     opinion that no meaningful additional information would be provided.


2.   PROMISSORY NOTE:

     The promissory note is payable on demand with no fixed terms of repayment
     and bears interest at 6% per annum. Interest on this note from the date of
     issue (September 23, 2005) to September 30, 2005 has not been accrued in
     these statements as the amounts are not material.



3.   UNITHOLDERS' CAPITAL:

     (a) Authorized:

         Unlimited number of Trust Units

         Unlimited number of Special Voting Units

     (b) Issued and outstanding:

                                                             NUMBER OF
                                                             TRUST UNITS  AMOUNT
                                                             -----------  ------

     Issued on initial organization on September 22, 2005        1         $ 100
     ---------------------------------------------------------------------------
     Balance, September 30, 2005                                 1         $ 100
     ===========================================================================


4.   SUBSEQUENT EVENTS:

     On November 7, 2005, the Trust, Precision Drilling Limited Partnership
     ("PDLP"), 1194312 Alberta Ltd., Precision Drilling Corporation
     ("Precision"), and 1195309 Alberta ULC completed an Arrangement Agreement
     (the "Arrangement") dated September 29, 2005, the purpose of which was to
     convert Precision and its business from a corporate structure into an
     income trust structure. Pursuant to the Arrangement, Precision and certain
     of its subsidiaries amalgamated and continued as one corporation. Upon
     completion of the Arrangement, all of the shares of Precision were owned by
     PDLP and indirectly by the Trust.


<PAGE>

PRECISION DRILLING TRUST
Notes to Consolidated Balance Sheets (unaudited), page 2

================================================================================

     On November 18, 2005 the Trust declared a distribution of $0.27 per unit,
     resulting in a payment of $ 33,874,610 on December 15, 2005 as settlement
     of this distribution.

     On December 19, 2005 the Trust announced a distribution of $0.27 per unit
     and a special distribution of $0.022 per unit. It is anticipated $
     36,634,763 will be paid in settlement of these distributions on January 17,
     2006.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex992form6k_q305int-a.txt
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
                                                                    EXHIBIT 99.2
                                                                    ------------


                                  CERTIFICATION

I, Hank Swartout, Chief Executive Officer of Precision Drilling Corporation,
Administrator to Precision Drilling Trust, certify that:

1.       I have reviewed this interim report on Form 6-K of Precision Drilling
         Trust;

2.       Based on my knowledge, this report does not contain any untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances under which
         such statements were made, not misleading with respect to the period
         covered by this report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this report, fairly present in all material
         respects the financial condition, results of operations and cash flows
         of the issuer as of, and for, the periods presented in this report;

4.       The issuer's other certifying officer and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the issuer
         and have:

         (a)      Designed such disclosure controls and procedures, or caused
                  such disclosure controls and procedures to be designed under
                  our supervision, to ensure that material information relating
                  to the issuer, including its consolidated subsidiaries, is
                  made known to us by others within those entities, particularly
                  during the period in which this report is being prepared;

         (b)      Evaluated the effectiveness of the issuer's disclosure
                  controls and procedures and presented in this report our
                  conclusions about the effectiveness of the disclosure controls
                  and procedures, as of the end of the period covered by this
                  report based on such evaluation; and

         (c)      Disclosed in this report any change in the issuer's internal
                  control over financial reporting that occurred during the
                  period covered by the annual report that has materially
                  affected, or is reasonably likely to materially affect, the
                  issuer's internal control over financial reporting; and

5.       The issuer's other certifying officer and I have disclosed, based on
         our most recent evaluation of internal control over financial
         reporting, to the issuer's auditors and the audit committee of the
         issuer's board of directors (or persons performing the equivalent
         function):

         (a)      All significant deficiencies and material weaknesses in the
                  design or operation of internal control over financial
                  reporting which are reasonably likely to adversely affect the
                  issuer's ability to record, process, summarize and report
                  financial information; and

         (b)      Any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the issuer's
                  internal control over financial reporting.


Dated:   January 12, 2006


                          /s/ Hank Swartout
                          -----------------------------------------------------
                          Name: Hank Swartout
                          Title: Chief Executive Officer, Precision Drilling
                          Corporation, Administrator to Precision Drilling Trust


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>ex993form6k_q305int-a.txt
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
                                                                    EXHIBIT 99.3
                                                                    ------------


                                  CERTIFICATION


I, Doug Strong, Chief Financial Officer of Precision Drilling Corporation,
Administrator to Precision Drilling Trust, certify that:

1.       I have reviewed this interim report on Form 6-K of Precision Drilling
         Trust;

2.       Based on my knowledge, this report does not contain any untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances under which
         such statements were made, not misleading with respect to the period
         covered by this report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this report, fairly present in all material
         respects the financial condition, results of operations and cash flows
         of the issuer as of, and for, the periods presented in this report;

4.       The issuer's other certifying officer and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the issuer
         and have:

         (a)      Designed such disclosure controls and procedures, or caused
                  such disclosure controls and procedures to be designed under
                  our supervision, to ensure that material information relating
                  to the issuer, including its consolidated subsidiaries, is
                  made known to us by others within those entities, particularly
                  during the period in which this report is being prepared;

         (b)      Evaluated the effectiveness of the issuer's disclosure
                  controls and procedures and presented in this report our
                  conclusions about the effectiveness of the disclosure controls
                  and procedures, as of the end of the period covered by this
                  report based on such evaluation; and

         (c)      Disclosed in this report any change in the issuer's internal
                  control over financial reporting that occurred during the
                  period covered by the annual report that has materially
                  affected, or is reasonably likely to materially affect, the
                  issuer's internal control over financial reporting; and

5.       The issuer's other certifying officer and I have disclosed, based on
         our most recent evaluation of internal control over financial
         reporting, to the issuer's auditors and the audit committee of the
         issuer's board of directors (or persons performing the equivalent
         function):

         (a)      All significant deficiencies and material weaknesses in the
                  design or operation of internal control over financial
                  reporting which are reasonably likely to adversely affect the
                  issuer's ability to record, process, summarize and report
                  financial information; and

         (b)      Any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the issuer's
                  internal control over financial reporting.


Dated:   January 12, 2006


                          /s/ Doug Strong
                          -----------------------------------------------------
                          Name: Doug Strong
                          Title: Chief Financial Officer, Precision Drilling
                          Corporation, Administrator to Precision Drilling Trust


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