ex99_1.htm

Exhibit 99.1

NEWS RELEASE

PRECISION DRILLING TRUST TO PRESENT AT THE

RAYMOND JAMES OILFIELD SERVICES CONFERENCE

IN TORONTO, ONTARIO, CANADA

Calgary, Alberta, Canada – May 12, 2010

Precision Drilling Trust (“Precision”) will be making a presentation at the Raymond James Oilfield Services Conference which is taking place May 18, 2010 in Toronto, Ontario, Canada. Mr. Kevin Neveu, President and Chief Executive Officer, is scheduled to present at 2:30 p.m. Eastern time (12:30 p.m. Mountain time) on Tuesday, May 18, 2010.

A live audio webcast will be accessible from Precision's website at www.precisiondrilling.com by selecting “Investor Centre”, then “Webcasts”. Shortly after the live webcast, an archived version of the webcast will be available for approximately 30 days.

About Precision

Precision is a leading provider of safe, high performance energy services to the North American oil and gas industry. 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.

Precision is headquartered in Calgary, Alberta, Canada. Precision is listed on the Toronto Stock Exchange under the trading symbol “PD.UN” and on the New York Stock Exchange under the trading symbol “PDS”.

For further information, please contact:

David Wehlmann, Executive Vice President, Investor Relations

Precision Drilling Corporation, Administrator of Precision Drilling Trust

403.716.4575

403.716.4755 (FAX)

4200, 150 – 6th Avenue S.W.

Calgary, Alberta, Canada T2P 3Y7

Website: www.precisiondrilling.com

4200, 150 - 6th Avenue S.W.

Calgary, Alberta, Canada T2P 3Y7

Telephone: 403.716.4500

Facsimile: 403.264.0251