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<SEC-DOCUMENT>0001199073-07-001010.txt : 20071120
<SEC-HEADER>0001199073-07-001010.hdr.sgml : 20071120
<ACCEPTANCE-DATETIME>20071120142207
ACCESSION NUMBER:		0001199073-07-001010
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20071019
FILED AS OF DATE:		20071120
DATE AS OF CHANGE:		20071120

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:		071259393

	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>d6k.htm
<DESCRIPTION>PRECISION DRILLING TRUST FORM 6-K
<TEXT>
<html>

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    <title>d6k.htm</title>
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        <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNITED
          STATES</strong></font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Washington,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman;"><strong>FORM
        6-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>REPORT
        OF FOREIGN PRIVATE ISSUER</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Pursuant
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        Exchange Act of 1934</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>November
        20,&#160;2007</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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        Drilling Trust</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Exact
        name of registrant as specified in its charter)</font></div>
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        Alberta</strong></font></div>
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        of principal executive offices)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        by check mark whether the registrant files or will file annual reports under
        cover Form 20-F or Form 40-F.</font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Form
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings;">o</font></font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Form
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings;">x</font></font></div>
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        by check mark if the registrant is submitting the Form 6-K in paper as permitted
        by Regulation S-T Rule 101(b)(1). </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font></div>
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        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.
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        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. </font></div>
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        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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                <tr bgcolor="#ffffff">
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                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Yes</font></div>
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                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><font style="DISPLAY: inline; FONT-FAMILY: wingdings;">o
</font></font></div>
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                    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;No</font></div>
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                  <td width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings;">x</font></font></td>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
        "Yes"
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        connection with Rule 12g3-2(b): 82-</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u><strong>N/A</strong></u></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font></div>
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: gray" noshade size="2">
        </div>
      </div>
      <div id="HDR">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
        to the requirements of Section 12 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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <table bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font></td>
              <td colspan="2">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;"><strong>PRECISION
                  DRILLING TRUST</strong></font></div>
                <div><strong><font size="2">By its Administrator PRECISION DRILLING
                  </font></strong></div>
                <div><strong><font size="2">CORPORATION</font></strong></div>
              </td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;<br>&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">Dated: November
                20<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">,&#160;2007</font></font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">/s/&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Darren
                Ruhr</font></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font size="1">&#160;</font></td>
              <td align="left">
                <hr style="COLOR: black" align="left" noshade size="1" width="90%"><font size="2">Name:<font id="TAB2" size="3" style="COLOR: black; LETTER-SPACING: 27pt;">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Darren
                Ruhr</font></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt;">Title: <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Corporate
                Secretary</font></font></td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font>
        <div>
          <hr style="COLOR: #727272" align="left" noshade size="2" width="100%">
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 48px"><u><font size="2">Exhibit</font></u></td>
                <td style="WIDTH: 26px">&#160;</td>
                <td width="1567"><u><font size="2">Title</font></u></td>
              </tr>

          </table>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1;">
                <td style="WIDTH: 36pt">&#160;</td>
                <td style="WIDTH: 36pt">&#160;</td>
                <td>&#160;</td>
              </tr>

          </table>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

              <tr valign="top" style="LINE-HEIGHT: 1.25;">
                <td style="WIDTH: 48px">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1</font></div>
                </td>
                <td style="WIDTH: 25px">&#160;</td>
                <td width="1568" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                    <div align="left">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 13.7pt; MARGIN-RIGHT: 0pt" align="left">
                        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.05; MARGIN-RIGHT: 0pt" align="left">
                          <div align="left">
                            <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.15; MARGIN-RIGHT: 0pt" align="left">
                              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.15; MARGIN-RIGHT: 0pt" align="left">
                                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left">
                                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><a href="ex99_1.htm">PRESS
                                      RELEASE &#8211; PRECISION DRILLING TRUST ANNOUNCES
                                      NOVEMBER 20, 2007 CASH
                                      DISTRIBUTION</a></font></div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </td>
              </tr>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>PRESS RELEASE - PRECISION DRILLING TRUST ANNOUNCES NOVEMBER 20, 2007 CASH DISTRIBUTION
<TEXT>
<html>

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    <title>ex99_1.htm</title>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman;"><strong>NEWS
      RELEASE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Precision
        Drilling Trust Announces</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>November
        2007 Cash Distribution</strong></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Calgary,
        Alberta, Canada &#8211; November 20, 2007</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Canadian
        dollars)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Precision
        Drilling Trust (&#8220;Precision&#8221;) announced today that the Board of Trustees has
        approved a cash distribution for the month of November 2007 of $0.13 per
        trust
        unit of Precision.&#160;&#160;The distribution will be payable on December 18,
        2007 to unitholders of record on November 30, 2007.&#160;&#160;The
        ex-distribution date is November 28, 2007.&#160;&#160;A cash payment of $0.13
        per unit will also be made to holders of Class B limited partnership units
        of
        Precision Drilling Limited Partnership using the same record date and payment
        date.</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Consistent
        with prior years, it is likely that a special year-end distribution will
        be
        declared for 2007. This special distribution will be announced by December
        20,
        2007 to effectively flow the Trust&#8217;s taxable income to unitholders pursuant to
        the Declaration of Trust.</font></div>
      <div><br></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><em>Cautionary
        Statement Regarding Forward-Looking Information and
        Statements</em></strong></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>Certain
        statements contained in this news release, including statements related to
        a
        special year-end distribution by the Trust and statements that contain words
        such as &#8220;likely&#8221;, &#8220;could&#8221;, &#8220;should&#8221;, &#8220;can&#8221;, &#8220;anticipates&#8221;, &#8220;expect&#8221;, &#8220;believe&#8221;,
&#8220;will&#8221;, &#8220;may&#8221; and similar expressions and statements relating to matters that
        are not historical facts constitute &#8220;forward-looking information&#8221; within the
        meaning of applicable Canadian securities legislation and &#8220;forward-looking
        statements&#8221; within the meaning of the &#8220;safe harbor&#8221; provisions of the United
        States Private Securities Litigation Reform Act of 1995.</em></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>These
        statements are based on certain assumptions and analysis<font style="DISPLAY: inline; FONT-SIZE: 10pt;">&#160;</font>made by the Trust
        in light
        of its experience and its perception of historical trends, current conditions
        and expected future developments as well as other factors it believes are
        appropriate in the circumstances. However, whether actual results, performance
        or achievements will conform to the Trust&#8217;s expectations and predictions is
        subject to a number of known and unknown risks and uncertainties which could
        cause actual results to differ materially from the Trust&#8217;s expectations. Such
        risks and uncertainties include, but are not limited to: fluctuations in
        the
        price and demand for oil and natural gas; fluctuations in the level of oil
        and
        natural gas exploration and development activities; fluctuations in the demand
        for well servicing, contract drilling and ancillary oilfield services; the
        effects of weather conditions on operations and facilities; the existence
        of
        competitive operating risks inherent in well servicing, contract drilling
        and
        ancillary oilfield services; general economic, market or business conditions;
        changes in laws or regulations, including taxation, environmental and currency
        regulations; availability of qualified personnel or management; and other
        unforeseen conditions which could impact on the use of services supplied
        by
        Precision.</em></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>Consequently,
        all of the forward-looking information and statements made in this news release
        are qualified by these cautionary statements and there can be no assurance
        that
        the actual results or developments anticipated by the Trust will be realized
        or,
        even if substantially realized, that they will have the expected consequences
        to
        or effects on the Trust or its business or operations.&#160;&#160;Except as may
        be required by law, the Trust assumes no obligation to update publicly any
        such
        forward-looking information and statements, whether as a result of new
        information, future events or otherwise.</em></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Precision
        is Canada&#8217;s largest energy services trust and a leading provider of energy
        services to the North American oil and gas industry.&#160;&#160;Precision
        provides customers with access to an extensive fleet of contract drilling
        rigs,
        service rigs, camps, snubbing units, wastewater treatment units and rental
        equipment backed by a comprehensive mix of technical support services and
        skilled, experienced personnel.</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Precision
        Drilling Trust is listed on the Toronto Stock Exchange under the trading
        symbol
&#8220;PD.UN&#8221; and on the New York Stock Exchange under the trading symbol
&#8220;PDS&#8221;.</strong></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>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.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">4200,
          150
          - 6th Avenue S.W.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Calgary,
          Alberta, Canada T2P 3Y7</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Telephone:
          403.716.4500</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">Facsimile:
          &#160;403.264.0251</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.2; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;"><em><u>www.precisiondrilling.com</u></em></font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
