<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex-1form6k_042606.txt
<DESCRIPTION>EXHIBIT 1
<TEXT>

                                                                     EXHIBIT 1
                                                                     ---------

[GRAPHIC OMITTED --
 LOGO -- PRECISION DRILLING CORPORATION]
 ---------------------------------------


                                 NEWS RELEASE



                           PRECISION DRILLING TRUST
                   ANNOUNCES INCREASE IN CASH DISTRIBUTIONS


CALGARY,  Alberta,  April 26, 2006 - Precision  Drilling  Trust  ("Precision")
announced  today that its Board of  Trustees  has  approved a 15%  increase in
monthly cash  distributions  to $0.31 per unit  effective for the May and June
2006  distributions,  to be paid in  June  and  July  2006  respectively.  The
increased payment will also be made to holders of Class B limited  partnership
units of Precision Drilling Limited Partnership.

Precision   Drilling  Trust  is  Canada's   largest  energy   services  trust.
Headquartered in Calgary, Alberta, Precision is the leading provider of energy
services to the Canadian oil and gas industry.  Precision  provides  customers
with access to an extensive  fleet of contract  drilling  rigs,  service rigs,
camps,  snubbing units and rental equipment  backed by a comprehensive  mix of
technical support services and skilled, experienced personnel.

PRECISION IS LISTED ON THE TORONTO  STOCK  EXCHANGE  UNDER THE TRADING  SYMBOL
"PD.UN" AND IN U.S.  DOLLARS  "PD.U" AND ON THE NEW YORK STOCK  EXCHANGE UNDER
THE TRADING SYMBOL "PDS".

FOR FURTHER INFORMATION PLEASE CONTACT DOUG STRONG, CHIEF FINANCIAL OFFICER OF
PRECISION  DRILLING  CORPORATION,  ADMINISTRATOR OF PRECISION  DRILLING TRUST,
4200,  150 - 6TH  AVENUE  S.W.,  CALGARY,  ALBERTA  T2P 3Y7,  TELEPHONE  (403)
716-4500, FAX (403) 264-0251; WEBSITE: WWW.PRECISIONDRILLING.COM.




4200, 150 - 6th Avenue S.W.
Calgary, Alberta, Canada T2P 3Y7
Telephone: 403.716.4500
Facsimile:  403.264.0251
WWW.PRECISIONDRILLING.COM
</TEXT>
</DOCUMENT>
