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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001199073-10-000427.txt : 20100513
<SEC-HEADER>0001199073-10-000427.hdr.sgml : 20100513
<ACCEPTANCE-DATETIME>20100513090244
ACCESSION NUMBER:		0001199073-10-000427
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20100512
FILED AS OF DATE:		20100513
DATE AS OF CHANGE:		20100513

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:		10826621

	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
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<FILENAME>d6k.htm
<DESCRIPTION>PRECISION DRILLING TRUST FORM 6-K
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STATES</font></font></div>
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COMMISSION</font></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"><font style="DISPLAY: inline; FONT-WEIGHT: normal">Washington, D.C.
20549</font></font></div>
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ISSUER</font></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"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Pursuant to Section 13a-16 or 15d-16
of the</font></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"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Securities Exchange Act of
1934</font></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"><font style="DISPLAY: inline; FONT-WEIGHT: bold">May 12, 2010</font></font></div>
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File Number: 001-14534</font></div>
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Trust</font></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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S.W.</font></font></div>
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of principal executive offices)</font></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;<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.
</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)(7):&#160; _____</font></div>
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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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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                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
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<tr bgcolor="#ffffff">
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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>
                                </td>
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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>
                        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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is marked, indicate below the file number assigned to the registrant in
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"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">N/A</font></font></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
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                      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; 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>
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                    <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">&#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%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<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"><font style="DISPLAY: inline; FONT-WEIGHT: bold">PRECISION DRILLING
      TRUST</font></font></div>
                              <div><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2">By its
      Administrator PRECISION DRILLING </font></font></div>
                              <div><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2">CORPORATION</font></font></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"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:&#160;May 12,
      2010</font></font></td>
                            <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt">By:&#160;&#160;</font></td>
                            <td>
                              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt"><img src="logo3.jpg" alt="graphic"></font></div>
                              <div>&#160;</div>
                            </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%">    </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"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title: <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Corporate
      Secretary</font></font></font></td>
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                    </div>
                  </div>
                </div>
              </div>
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          </div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>
      <div>
        <hr style="COLOR: #727272" align="left" noshade size="2" width="100%">
      </div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
          <div>
            <div style="TEXT-ALIGN: left" align="center">
              <div>
                <div>
                  <div>
                    <div align="center">
                      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                            <td width="4%">
                              <div><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;<font style="FONT-SIZE: 10pt; TEXT-DECORATION: underline">Exhibit</font></font></div>
                              <div>&#160;</div>
                            </td>
                            <td width="4%"><font style="FONT-SIZE: 10pt">&#160;</font></td>
                            <td width="92%">
                              <div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Title</font></div>
                              <div>&#160;</div>
                            </td>
                          </tr><tr>
                            <td valign="top" width="4%">
                              <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font size="2"><font style="FONT-SIZE: 10pt">99.1</font></font></font></div>
                            </td>
                            <td width="4%"><font style="FONT-SIZE: 10pt">&#160;</font></td>
                            <td width="92%">
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                                                                            <div align="left"><font style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman bold, serif"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">      </font></font></font></font></font></font></font></font></font></font>
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      Drilling Trust Unitholders A</font>pprove Resolutions At Annual and
      Special Meeting, Including Conversion To
      Corporation</font></font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>PRECISION DRILLING TRUST UNITHOLDERS APPROVE RESOLUTIONS AT ANNUAL AND SPECIAL MEETING, INCLUDING CONVERSION TO CORPORATION
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Exhibit 99.1</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><img src="logo1.jpg" alt="Graphic"></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">NEWS RELEASE</font></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-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-VARIANT: small-caps"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Precision Drilling Trust Unitholders A</font>pprove Resolutions At Annual and Special Meeting, Including Conversion To Corporation</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Calgary, Alberta, Canada &#8211; May 12, 2010</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Precision Drilling Trust ("Precision" or the "Trust") held its annual and special meeting of unitholders (the "Meeting") in Calgary yesterday. At the Meeting, the unitholders of the Trust adopted the special resolution authorizing the plan of arrangement to reorganize the Trust into a corporation (the "Arrangement") with over 99 per cent of the units represented at the Meeting being voted in favour of the resolution.&#160;&#160;In addition, the Court of Queen's Bench of Alberta issued its final order approving the Arrangement earlier today.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It is presently anticipated that the conversion will be effective on or about June 1, 2010.&#160;&#160;Following completion, the common shares of Precision Drilling Corporation, the successor to the Trust, are expected to be listed for trading on the Toronto Stock Exchange under the symbol "PD" and on the New York Stock Exchange under the symbol "PDS".</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">All other resolutions presented at the Meeting were also approved by the requisite majority of unitholders of the Trust. For more information, readers can view the report of voting results filed by the Trust in respect of the Meeting at: <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.sedar.com</font>.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Cautionary Statement Regarding Forward-Looking Information and Statements</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain statements contained in this news release, including statements that contain words such as &#8220;anticipate&#8221;, &#8220;expect&#8221;, &#8220;believe&#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 (collectively, &#8220;forward-looking information and statements&#8221;).</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In particular, this news release contains forward-looking information and statements relating to the expectations of the Trust regarding the completion of the proposed Arrangement.&#160;&#160;These forward-looking information and statements are based on certain assumptions and analysis made by the Trust in light of its perception of current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results 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 the failure to satisfy all conditions to the completio
n of the Arrangement. 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</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or developments anticipated by the Trust will be realized. Readers are therefore cautioned not to place undue reliance on such forward-looking information and statements.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4200, 150 - 6th Avenue S.W.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Calgary, Alberta, Canada T2P 3Y7</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone: 403.716.4500</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Facsimile: </font><font style="DISPLAY: inline; FONT-SIZE: 12pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">403.264.0251</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">About Precision</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Precision is a leading provider of safe, high performance 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>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Precision is headquartered in Calgary, Alberta, Canada.&#160;&#160;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 &#8220;PDS&#8221;.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For further information, please contact:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">David Wehlmann, Executive Vice President, Investor Relations</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Precision Drilling Corporation, Administrator of Precision Drilling Trust</font><br>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">403.716.4575</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">403.716.4755 (FAX)</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4200, 150 - 6th Avenue S.W.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Calgary, Alberta, Canada T2P 3Y7</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Telephone: 403.716.4500</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Facsimile: </font><font style="DISPLAY: inline; FONT-SIZE: 12pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">403.264.0251</font></font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
