<SEC-DOCUMENT>0001171843-18-006954.txt : 20181011
<SEC-HEADER>0001171843-18-006954.hdr.sgml : 20181011
<ACCEPTANCE-DATETIME>20181011165458
ACCESSION NUMBER:		0001171843-18-006954
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20181011
FILED AS OF DATE:		20181011
DATE AS OF CHANGE:		20181011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRECISION DRILLING Corp
		CENTRAL INDEX KEY:			0001013605
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14534
		FILM NUMBER:		181118769

	BUSINESS ADDRESS:	
		STREET 1:		150 - 6TH AVENUE S.W.
		STREET 2:		SUITE 4200
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3Y7
		BUSINESS PHONE:		403-716-4500

	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 TRUST
		DATE OF NAME CHANGE:	20051121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRECISION DRILLING CORP
		DATE OF NAME CHANGE:	19960506
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>f6k_101118.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<body style="font: 10pt Times New Roman, Times, Serif">

<p style="margin: 0">&#160;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">UNITED STATES</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">SECURITIES AND EXCHANGE COMMISSION</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">Washington, D.C. 20549</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-align: center; margin: 0pt 0">FORM 6-K</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>REPORT OF FOREIGN PRIVATE ISSUER</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Pursuant to Section 13a-16 or 15d-16 of the</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Securities Exchange Act of 1934</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: center"><b>For the month of, October 2018</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">Commission File Number: 001-14534</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Precision Drilling Corporation</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">(Exact name of registrant as specified in its charter)</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>800, 525 - 8 Avenue S.W.<br>
Calgary, Alberta<br>
Canada T2P 1G1</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">(Address of principal executive offices)</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">Form 20-F ___ Form 40-F <u>X</u></p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">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). ___</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">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): ___</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>SIGNATURE</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">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.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="width: 50%; font-size: 10pt">Dated: <b>October 11, 2018</b></td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 49%; font-size: 10pt; font-weight: bold; text-align: left">PRECISION DRILLING CORPORATION</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">By: <u>/s/Carey T Ford&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-indent: 3in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Name: Carey T Ford</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-indent: -3.5in; padding-left: 3.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Title:Senior Vice President and Chief Financial Officer</td></tr>
</table>


<p style="font-size: 10pt; text-indent: -3.5in; margin: 0pt 0 0pt 3.5in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: -3.5in; margin: 0pt 0 0pt 3.5in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: -3.5in; margin: 0pt 0 0pt 3.5in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0in; margin: 0pt 0"></p>

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    <!-- Field: /Page -->

<p style="font-size: 10pt; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; background-color: white">                                                                                                                                                                                                                                                                                                                                                                                                                              <tr style="vertical-align: top">
<td>&nbsp;</td><td><u>Exhibit</u>&nbsp;&nbsp;</td><td style="padding-right: 4.5pt"><u>DESCRIPTION</u></td></tr>
<tr style="vertical-align: top">
<td>&nbsp;</td><td>&nbsp;</td><td style="padding-right: 4.5pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><a href="exh_991.htm"><font style="text-transform: uppercase"><b>99.1</b></font></a></td><td style="padding-right: 4.5pt"><a href="exh_991.htm"><font style="text-transform: uppercase"><b>Arrangement agreement dated october 5, 2018 between
precision drilling corporation and trinidad drilling limited (the &ldquo;Arrangement Agreement&rdquo;)</b></font></a></td></tr></table>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 17.85pt 0pt 1in; background-color: white"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><a href="exh_992.htm"><font style="text-transform: uppercase"><b>99.2</b></font></a></td><td style="padding-right: 17.85pt"><a href="exh_992.htm"><font style="text-transform: uppercase"><b>Schedule &ldquo;a&rdquo; to the Arrangement Agreement</b></font></a></td></tr></table>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 17.85pt 0pt 1in; background-color: white"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><a href="exh_993.htm"><font style="text-transform: uppercase"><b>99.3</b></font></a></td><td style="padding-right: 17.85pt"><a href="exh_993.htm"><font style="text-transform: uppercase"><b>Schedule &ldquo;B&rdquo; to the Arrangement Agreement</b></font></a></td></tr></table>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 17.85pt 0pt 1in; background-color: white"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><a href="exh_994.htm"><font style="text-transform: uppercase"><b>99.4</b></font></a></td><td style="padding-right: 17.85pt"><a href="exh_994.htm"><font style="text-transform: uppercase"><b>Schedule &ldquo;C&rdquo; to the Arrangement Agreement</b></font></a></td></tr></table>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 17.85pt 0pt 1in; background-color: white"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><a href="exh_995.htm"><font style="text-transform: uppercase"><b>99.5</b></font></a></td><td style="padding-right: 17.85pt"><a href="exh_995.htm"><font style="text-transform: uppercase"><b>Schedule &ldquo;D&rdquo; to the Arrangement Agreement</b></font></a></td></tr></table>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 17.85pt 0pt 1in; background-color: white"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<table cellpadding="0" cellspacing="0" width="100%" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 1in"></td><td style="width: 0.5in"><a href="exh_996.htm"><font style="text-transform: uppercase"><b>99.6</b></font></a></td><td style="padding-right: 17.85pt"><a href="exh_996.htm"><font style="text-transform: uppercase"><b>Material change report dated october 5, 2018</b></font></a></td></tr></table>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 17.85pt 0pt 1in; background-color: white"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<p style="font-size: 10pt; text-indent: -1in; margin: 0pt 0 0pt 1in"><font style="text-transform: uppercase"><b>&nbsp;</b></font></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>ARRANGEMENT AGREEMENT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>BETWEEN</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Precision Drilling Corporation</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>- AND -</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Trinidad Drilling Limited</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>October 5, 2018</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="width: 90%; text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 1 INTERPRETATION</TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 5pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.1&nbsp;&nbsp;&nbsp;Definitions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.2&nbsp;&nbsp;&nbsp;Interpretation
    Not Affected by Headings, etc.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">18</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.3&nbsp;&nbsp;&nbsp;Number and Gender</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.4&nbsp;&nbsp;&nbsp;Date for Any
    Action</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.5&nbsp;&nbsp;&nbsp;Entire Agreement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.6&nbsp;&nbsp;&nbsp;Statute and Agreement
    References</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.7&nbsp;&nbsp;&nbsp;Schedules</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.8&nbsp;&nbsp;&nbsp;Currency</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">19</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.9&nbsp;&nbsp;&nbsp;Accounting Matters</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.10&nbsp;&nbsp;&nbsp;Interpretation
    Not Affected by Party Drafting</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">1.11&nbsp;&nbsp;&nbsp;Knowledge</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 2 THE ARRANGEMENT</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.1&nbsp;&nbsp;&nbsp;Plan of Arrangement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">20</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.2&nbsp;&nbsp;&nbsp;Recommendation
    of Precision Board</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">22</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.3&nbsp;&nbsp;&nbsp;Recommendation
    of Trinidad Board</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">22</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.4&nbsp;&nbsp;&nbsp;Interim Order</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">23</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.5&nbsp;&nbsp;&nbsp;Information Circular</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">24</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.6&nbsp;&nbsp;&nbsp;Preparation of
    Filings</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">25</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.7&nbsp;&nbsp;&nbsp;Trinidad Employee
    Obligations</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">26</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.8&nbsp;&nbsp;&nbsp;Treatment of
    Trinidad Options and Trinidad Incentive Units</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">27</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.9&nbsp;&nbsp;&nbsp;Effective Date</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.10&nbsp;&nbsp;&nbsp;Dissenting Shareholders</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.11&nbsp;&nbsp;&nbsp;Tax Matters</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.12&nbsp;&nbsp;&nbsp;Voting Agreements</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">28</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">2.13&nbsp;&nbsp;&nbsp;U.S. Securities
    Laws</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 3 COVENANTS</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">3.1&nbsp;&nbsp;&nbsp;Covenants of
    Precision</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">29</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">3.2&nbsp;&nbsp;&nbsp;Additional Covenants
    of Precision</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">33</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">3.3&nbsp;&nbsp;&nbsp;Covenants of
    Trinidad</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">33</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">3.4&nbsp;&nbsp;&nbsp;Mutual Covenants
    Regarding the Arrangement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">44</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">3.5&nbsp;&nbsp;&nbsp;Provision of
    Information and Integration of Operations</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">45</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">3.6&nbsp;&nbsp;&nbsp;Mutual Covenants
    Regarding Regulatory Approvals</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">45</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 4 REPRESENTATIONS AND WARRANTIES</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">4.1&nbsp;&nbsp;&nbsp;Representations
    and Warranties of Precision</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">47</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">4.2&nbsp;&nbsp;&nbsp;Representations
    and Warranties of Trinidad</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">48</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">4.3&nbsp;&nbsp;&nbsp;Privacy Issues</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">48</TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in; width: 90%">Article 5 CONDITIONS PRECEDENT</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt; width: 10%">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">5.1&nbsp;&nbsp;&nbsp;Mutual Conditions
    Precedent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">50</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">5.2&nbsp;&nbsp;&nbsp;Additional Conditions
    to Obligations of Precision</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">51</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">5.3&nbsp;&nbsp;&nbsp;Additional Conditions
    to Obligations of Trinidad</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">53</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">5.4&nbsp;&nbsp;&nbsp;Notice and Effect
    of Failure to Comply with Conditions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">55</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">5.5&nbsp;&nbsp;&nbsp;Satisfaction
    of Conditions</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">55</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 6 NON-SOLICITATION AND AGREEMENT
    AS TO DAMAGES</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">55</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">6.1&nbsp;&nbsp;&nbsp;Covenants Regarding
    Non-Solicitation</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">55</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">6.2&nbsp;&nbsp;&nbsp;Precision Damages</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">60</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">6.3&nbsp;&nbsp;&nbsp;Precision Liquidated
    Damages</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">61</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 7 AMENDMENT</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">7.1&nbsp;&nbsp;&nbsp;Amendment</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">7.2&nbsp;&nbsp;&nbsp;Amendment of
    Plan of Arrangement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 8 TERMINATION</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">8.1&nbsp;&nbsp;&nbsp;Termination</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">62</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 9 NOTICES</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">9.1&nbsp;&nbsp;&nbsp;Notices</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">64</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Article 10 GENERAL</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.1&nbsp;&nbsp;&nbsp;Non-Survival
    of Representations and Warranties</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.2&nbsp;&nbsp;&nbsp;Binding Effect</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.3&nbsp;&nbsp;&nbsp;Assignment</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">65</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.4&nbsp;&nbsp;&nbsp;Public Communications</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">66</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.5&nbsp;&nbsp;&nbsp;Costs</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">66</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.6&nbsp;&nbsp;&nbsp;Severability</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">66</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.7&nbsp;&nbsp;&nbsp;Further Assurances</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">66</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.8&nbsp;&nbsp;&nbsp;Specific Performance</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">66</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.9&nbsp;&nbsp;&nbsp;Time of Essence</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">67</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.10&nbsp;&nbsp;&nbsp;Applicable
    Law and Enforcement</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">67</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.11&nbsp;&nbsp;&nbsp;Waiver</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">67</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.12&nbsp;&nbsp;&nbsp;Third Party
    Beneficiaries</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">67</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 11pt">10.13&nbsp;&nbsp;&nbsp;Counterparts</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">68</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Schedule &quot;A&quot; PLAN OF ARRANGEMENT</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Schedule &quot;B&quot; TRINIDAD ARRANGEMENT
    RESOLUTION</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Schedule &quot;C&quot; REPRESENTATIONS
    AND WARRANTIES OF PRECISION</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">1</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: bold 10pt Arial, Helvetica, Sans-Serif; text-transform: uppercase">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 5pt; padding-left: 0in">Schedule &quot;D&quot; REPRESENTATIONS
    AND WARRANTIES OF TRINIDAD</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 5pt">1</TD></TR>
</TABLE>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>ARRANGEMENT AGREEMENT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"><B>THIS ARRANGEMENT AGREEMENT</B> dated effective
as of October 5, 2018</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">BETWEEN:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 1in"><FONT STYLE="text-transform: uppercase"><B>Precision Drilling
Corporation</B>,</FONT> a corporation existing under the laws of the Province of Alberta (hereinafter referred to as &quot;<B>Precision</B>&quot;)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">AND</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 1in"><FONT STYLE="text-transform: uppercase"><B>Trinidad Drilling
Limited</B></FONT>, a corporation existing under the laws of the Province of Alberta (hereinafter referred to as &quot;<B>Trinidad</B>&quot;)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">WHEREAS:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Precision wishes to
acquire all of the issued and outstanding Trinidad Shares;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">B.</TD><TD STYLE="text-align: justify">Precision and Trinidad wish to propose
                                         an arrangement involving, among other things, the acquisition by Precision of all of
                                         the issued and outstanding Trinidad Shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">C.</TD><TD STYLE="text-align: justify">the Parties intend to carry out the
                                         transactions contemplated herein by way of an arrangement under the provisions of the
                                         ABCA, on the terms and subject to the conditions set out in the Plan of Arrangement attached
                                         hereto as Schedule &quot;A&quot;; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">D.</TD><TD STYLE="text-align: justify">the Parties have entered into this Agreement
                                         to provide for the matters referred to in the foregoing recitals and for other matters
                                         relating to such arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"><B>NOW THEREFORE</B>, in consideration of
the covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which
are hereby acknowledged), the Parties hereby covenant and agree as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
1<BR>
<FONT STYLE="font-size: 10pt">INTERPRETATION</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.1</TD><TD STYLE="text-align: justify">Definitions</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">In this Agreement, including the recitals
hereto, the following defined terms have the meanings hereinafter set forth:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">&quot;<B>ABCA</B>&quot; means the
                                         <I>Business Corporations Act</I>, R.S.A. 2000, c. B 9, as such may be amended from time
                                         to time prior to the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">&quot;<B>Acquisition Proposal</B>&quot;
                                         means, other than:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Arrangement, and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>



<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any transaction involving only Trinidad and one or more of its wholly-owned subsidiaries or between or among one or more of Trinidad's
wholly-owned subsidiaries,</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">any inquiry or request for discussions
or negotiations or the making of any offer or proposal whether or not in writing to Trinidad or the Trinidad Shareholders from
any Person or Persons &quot;acting jointly or in concert&quot; (within the meaning of NI 62-104) which constitutes, or may reasonably
be expected to lead to (in either case whether in one transaction or a series of transactions):</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any
                                         direct or indirect sale, issuance or acquisition of shares or other equity interests
                                         (or securities convertible into or exercisable for such shares or interests) from Trinidad
                                         or Trinidad Shareholders as the case may be that, when taken together with any securities
                                         of Trinidad held by the proposed acquiror, and any Person acting jointly or in concert
                                         with such acquiror and assuming the conversion of any convertible securities held by
                                         the proposed acquiror and any Person acting jointly or in concert with such acquiror,
                                         would constitute beneficial ownership representing 20% or more of any class of equity
                                         or voting securities of Trinidad or any of its subsidiaries or rights or interests therein
                                         or thereto;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any
                                         direct or indirect acquisition or purchase (or any lease, long-term supply agreement,
                                         joint venture or other arrangement having the same economic effect as an acquisition
                                         or purchase) of assets of any member of the Trinidad Group (including, without limitation,
                                         the shares of any subsidiary) representing 20% or more of the consolidated assets or
                                         contributing 20% or more of the consolidated revenue of Trinidad or any of its subsidiaries;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an
                                         amalgamation, arrangement, share exchange, merger, business combination, consolidation,
                                         recapitalization or other similar transaction involving Trinidad or any of its subsidiaries;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a
                                         take-over bid, issuer bid, exchange offer, recapitalization, liquidation, dissolution,
                                         reorganization or other similar transaction involving Trinidad that, if consummated,
                                         would result in a Person or group of Persons acting jointly or in concert acquiring beneficial
                                         ownership of 20% or more of any class of equity or voting securities of Trinidad and
                                         assuming the conversion of any convertible securities held by the Person or group of
                                         Persons acting jointly or in concert;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any
                                         other transaction, the consummation of which would or could reasonably be expected to
                                         impede, interfere with, prevent or delay the transactions contemplated by this Agreement
                                         or the Arrangement; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any
                                         public announcement of an intention to do any of the foregoing.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">For purposes of this Agreement, the Existing Bid and
any changes, amendments, modifications or variations to the foregoing bid after the date hereof, shall each be deemed to be an
&quot;Acquisition Proposal&quot;; provided however that the Existing Bid shall be deemed not to be a Superior Proposal for purposes
of this Agreement, and the provision of Section 6.1(c) shall not apply to the Existing Bid;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">&quot;<B>Advance Ruling Certificate</B>&quot;
                                         means an advance ruling certificate issued by the Commissioner pursuant to section 102
                                         of the Competition Act in respect of the transaction contemplated by this Agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">&quot;<B>affiliate</B>&quot; has the
                                         meaning ascribed thereto in the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">&quot;<B>Agreement</B>&quot;, &quot;<B>herein</B>&quot;,
                                         &quot;<B>hereof</B>&quot;, &quot;<B>hereto</B>&quot;, &quot;<B>hereunder</B>&quot; and
                                         similar expressions mean and refer to this arrangement agreement (including the schedules
                                         attached hereto) as supplemented, modified or amended, and not to any particular article,
                                         section, schedule or other portion hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">&quot;<B>Applicable Canadian Securities
                                         Laws</B>&quot; means, collectively, and as the context may require, the applicable securities
                                         legislation of each of the provinces of Canada, and the rules, regulations, instruments,
                                         blanket orders and policies published and/or promulgated thereunder, as such may be amended
                                         from time to time prior to the Effective Date, that is binding upon or applicable to
                                         such Person or Persons or its or their business, undertaking, property or securities
                                         and emanate from a Person having jurisdiction over the Person or persons or its or their
                                         business, undertaking, property or securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">&quot;<B>Applicable Laws</B>&quot;,
                                         in the context that refers to one or more Persons, means any domestic or foreign, federal,
                                         state, provincial or local law (statutory, common or otherwise), constitution, treaty,
                                         convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling
                                         or other similar requirement enacted, adopted, promulgated or applied by a Governmental
                                         Authority, and any terms and conditions of any grant of approval, permission, authority
                                         or license of any Governmental Authority, that is binding upon or applicable to such
                                         Person or Persons or its or their business, undertaking, property or securities and emanate
                                         from a Person having jurisdiction over the Person or persons or its or their business,
                                         undertaking, property or securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify">&quot;<B>Arrangement</B>&quot; means
                                         the arrangement under the provisions of section 193 of the ABCA, on the terms and conditions
                                         set forth in the Plan of Arrangement as supplemented, or modified in accordance with
                                         the provisions of this Agreement and the Plan of Arrangement, or amended or made at the
                                         direction of the Court in the Final Order;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify">&quot;<B>Arrangement Resolution</B>&quot;
                                         means the special resolution of the Trinidad Securityholders in respect of the Arrangement
                                         to be considered at the Trinidad Meeting substantially in the form attached hereto as
                                         Schedule &quot;B&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify">&quot;<B>Articles of Arrangement</B>&quot;
                                         means the articles of arrangement of Trinidad giving effect to the Arrangement, required
                                         under subsection 193(10) of the ABCA to be filed with the Registrar after the Final Order
                                         has been granted, which shall be in a form and content satisfactory to the Parties, acting
                                         reasonably;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(k)</TD><TD STYLE="text-align: justify">&quot;<B>Business Day</B>&quot; means
                                         any day other than a Saturday, Sunday, statutory holiday or other day when banks in the
                                         City of Calgary, Alberta are not generally open for business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(l)</TD><TD STYLE="text-align: justify">&quot;<B>Commissioner</B>&quot; means
                                         the Commissioner of Competition appointed pursuant to subsection 7(1) of the Competition
                                         Act, and includes a Person duly authorized to exercise the powers and perform the duties
                                         of the Commissioner;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(m)</TD><TD STYLE="text-align: justify">&quot;<B>Competition Act</B>&quot;
                                         means the <I>Competition Act</I>, R.S.C. 1985, c. C 34;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(n)</TD><TD STYLE="text-align: justify">&quot;<B>Competition Act Approval</B>&quot;
                                         means, in respect of the Arrangement, the occurrence of one or more of the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
an Advance Ruling Certificate pursuant to subsection 102(1) of the Competition Act shall have been issued by the Commissioner
in respect of the transactions contemplated by this Agreement, which Advance Ruling Certificate has not been rescinded prior to
the Effective Time; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(A)&nbsp;the applicable waiting period under subsection 123(1) of the Competition Act shall have expired or been terminated under
subsection 123(2) of the Competition Act, or the obligation to submit a notification under Part IX of the Competition Act shall
have been waived pursuant to paragraph 113(c) of the Competition Act; and (B)&nbsp;the Commissioner shall have confirmed in writing,
that he does not, at that time, intend to make an application under section&nbsp;92 of the Competition Act in respect of the transactions
contemplated by this Agreement, and such &quot;no action letter&quot; shall not have been rescinded prior to the Effective Time;
or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
in lieu of Sections 1.1(n)(i) or 1.1(n)(ii), where Precision in its sole discretion elects, the Parties shall have notified the
Commissioner under section 114 of the Competition Act and the waiting period under section 123 of the Competition Act shall have
expired and there shall be no threatened or actual application by the Commissioner for an order under section 92 or 100 of the
Competition Act;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(o)</TD><TD STYLE="text-align: justify">&quot;<B>Confidential Information</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;6.1(f);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(p)</TD><TD STYLE="text-align: justify">&quot;<B>Confidentiality Agreements</B>&quot;
                                         means, collectively, the confidentiality agreements between Precision and Trinidad dated
                                         April 11, 2018 and June 7, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(q)</TD><TD STYLE="text-align: justify">&quot;<B>Contract</B>&quot; means,
                                         with respect to a Party, a contract, lease, instrument, note, bond, debenture, mortgage,
                                         agreement, arrangement or understanding, written or oral, to which such Party, or any
                                         of its subsidiaries, is a Party or under which such Party or any of its subsidiaries
                                         is bound, has unfulfilled obligations or contingent liabilities or is owed unfulfilled
                                         obligations, whether known or unknown, and whether asserted or not;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(r)</TD><TD STYLE="text-align: justify">&quot;<B>Court</B>&quot; means the
                                         Court of Queen's Bench of Alberta;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(s)</TD><TD STYLE="text-align: justify">&quot;<B>CTA</B>&quot; means the <I>Canada
                                         Transportation Act</I>, S.C. 1996, c.10;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(t)</TD><TD STYLE="text-align: justify">&quot;<B>Depositary</B>&quot; means
                                         the depositary under the Arrangement, Computershare Trust Company of Canada or such other
                                         Person that may be appointed by Precision in connection with the Arrangement for the
                                         purpose of receiving deposits of certificates formerly representing the Trinidad Shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(u)</TD><TD STYLE="text-align: justify">&quot;<B>Disclosed Personal Information</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;4.3(b);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(v)</TD><TD STYLE="text-align: justify">&quot;<B>Dissent Rights</B>&quot;
                                         has the meaning ascribed thereto in the Plan of Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(w)</TD><TD STYLE="text-align: justify">&quot;<B>Effective Date</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;2.1(d);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(x)</TD><TD STYLE="text-align: justify">&quot;<B>Effective Time</B>&quot;
                                         means the time at which the Articles of Arrangement are filed with the Registrar on the
                                         Effective Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(y)</TD><TD STYLE="text-align: justify">&quot;<B>Encumbrances</B>&quot; means,
                                         in the case of property or an asset, all mortgages, pledges, charges, liens, debentures,
                                         hypothecs, trust, outstanding demands, burdens, capital leases, assignments by way of
                                         security, security interests, conditional sales contracts or other title retention agreements
                                         or similar interests or instruments charging, or creating a security interest in, or
                                         against title to, such property or assets, or any part thereof or interest therein, and
                                         any agreements, leases, options, easements, rights of way, restrictions, executions or
                                         other charges or encumbrances (including notices or other registrations in respect of
                                         any of the foregoing) (whether by Applicable Laws, contract or otherwise) against title
                                         to any of the property or assets, or any part thereof or interest therein or capable
                                         of becoming any of the foregoing;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(z)</TD><TD STYLE="text-align: justify">&quot;<B>Ensign</B>&quot; means Ensign
                                         Energy Services Inc.;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aa)</TD><TD STYLE="text-align: justify">&quot;<B>Environmental Approvals</B>&quot;
                                         means all permits, certificates, licences, authorizations, consents, instructions, registrations,
                                         directions or approvals issued or required by Governmental Authorities pursuant to Environmental
                                         Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bb)</TD><TD STYLE="text-align: justify">&quot;<B>Environmental Laws</B>&quot;
                                         means, with respect to any Person or its business, activities, property, assets or undertaking,
                                         all Applicable Laws, relating to environmental or health and safety matters of the jurisdictions
                                         applicable to such Person or its business, activities, property, assets or undertaking,
                                         including legislation governing the use, handling and storage of Hazardous Substances;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(cc)</TD><TD STYLE="text-align: justify">&quot;<B>Equivalent Insurance</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;3.2(a);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(dd)</TD><TD STYLE="text-align: justify">&quot;<B>Exchanges</B>&quot; means
                                         the TSX, and, with respect to Precision, also includes the NYSE;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ee)</TD><TD STYLE="text-align: justify">&quot;<B>Excluded Transaction Costs</B>&quot;
                                         has the meaning ascribed thereto in the definition of Trinidad Transaction Costs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ff)</TD><TD STYLE="text-align: justify">&quot;<B>Executive Employees</B>&quot;
                                         means the executive officers of Trinidad that have been disclosed in writing for the
                                         purposes of this Section 1.1(ff);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(gg)</TD><TD STYLE="text-align: justify">&quot;<B>Existing Bid</B>&quot; means
                                         the existing unsolicited take-over bid for the outstanding Trinidad Shares made by Ensign
                                         pursuant to Ensign's offer to purchase and take-over bid circular dated August 30, 2018
                                         (without giving effect to any changes, amendments, modification or variations thereto
                                         after the date hereof);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hh)</TD><TD STYLE="text-align: justify">&quot;<B>Final Order</B>&quot; means
                                         the order of the Court approving the Arrangement to be applied for by Trinidad following
                                         the approval of the Arrangement Resolution at the Trinidad Meeting and to be granted
                                         pursuant to subsection 193(9) of the ABCA in respect of Trinidad Securityholders, Trinidad
                                         and Precision, as such order may be affirmed, amended or modified by the Court (with
                                         the consent of both Trinidad and Precision, each acting reasonably) at any time prior
                                         to the Effective Date or, if appealed, then, unless such appeal is withdrawn or denied,
                                         as affirmed or as amended (provided that such amendment is acceptable to both Trinidad
                                         and Precision, each acting reasonably) on appeal;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ii)</TD><TD STYLE="text-align: justify">&quot;<B>Governmental Authority</B>&quot;
                                         means any:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
national, federal, provincial, state, regional, municipal, local or other government or any governmental regulatory or administrative
authority department, court, tribunal, arbitral body, commission, board, bureau ministry or agency, or official, domestic or foreign
including any political subdivision thereof;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any subdivision, agent, commission, board or authority of any of the foregoing;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any quasi-governmental or private body exercising any regulatory, expropriation or Taxing Authority under or for the account of
any of the foregoing; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any stock exchange, including the Exchanges;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jj)</TD><TD STYLE="text-align: justify">&quot;<B>Governmental Authorizations</B>&quot;
                                         has the meaning ascribed thereto in either Section&nbsp;(q) of Schedule &quot;C&quot;
                                         or Section&nbsp;(p) of Schedule &quot;D&quot;, as applicable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kk)</TD><TD STYLE="text-align: justify">&quot;<B>Hazardous Substances</B>&quot;
                                         means any pollutant, contaminant, waste or other substance of any nature, hazardous substance,
                                         hazardous material, toxic substance, dangerous substance or dangerous good as defined,
                                         or that is prohibited, listed, defined, designated, regulated, classified judicially
                                         interpreted or identified in any applicable Environmental Laws including petroleum and
                                         all derivatives thereof and synthetic substitutions therefor;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ll)</TD><TD STYLE="text-align: justify">&quot;<B>HSR Act</B>&quot; means
                                         the United States <I>Hart-Scott-Rodino Antitrust Improvements Act</I> of 1976;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mm)</TD><TD STYLE="text-align: justify">&quot;<B>HSR Act Approval</B>&quot;
                                         means the expiration of the waiting period under the HSR Act, including any extensions,
                                         or early termination thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(nn)</TD><TD STYLE="text-align: justify">&quot;<B>IFRS</B>&quot; means International
                                         Financial Reporting Standards as incorporated in the Handbook of the Chartered Professional
                                         Accountants (Canada) at the relevant time applied on a consistent basis;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></p></div>
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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(oo)</TD><TD STYLE="text-align: justify">&quot;<B>includes</B>&quot; or &quot;<B>including</B>&quot;
                                         shall be deemed to mean &quot;<B>includes, without limitation</B>&quot; or &quot;<B>including,
                                         without limitation</B>&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(pp)</TD><TD STYLE="text-align: justify">&quot;<B>Information Circular</B>&quot;
                                         means the joint management information circular of Precision and Trinidad, together with
                                         all appendices thereto to be mailed or otherwise distributed by Precision and Trinidad
                                         to the Precision Shareholders and Trinidad Securityholders, respectively, and such other
                                         securityholders of Trinidad as may be required pursuant to the Interim Order in connection
                                         with the Trinidad Meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(qq)</TD><TD STYLE="text-align: justify">&quot;<B>Intellectual Property</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(mm) of Schedule &quot;D&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(rr)</TD><TD STYLE="text-align: justify">&quot;<B>Interim Order</B>&quot;
                                         means an interim order of the Court concerning the Arrangement under subsection 193(4)
                                         of the ABCA, containing declarations and directions with respect to the Arrangement and
                                         the holding of the Trinidad Meeting, as such order may be affirmed, amended or modified
                                         by the Court (with the consent of both Trinidad and Precision, each acting reasonably);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ss)</TD><TD STYLE="text-align: justify">&quot;<B>In-the-Money Amount</B>&quot;
                                         has the meaning ascribed thereto in Section 2.1(a)(iii)(A);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(tt)</TD><TD STYLE="text-align: justify">&quot;<B>Investment Canada Act</B>&quot;
                                         means the <I>Investment Canada Act</I>, R.S.C. 1985, c. 28 (1st Supp.);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(uu)</TD><TD STYLE="text-align: justify">&quot;<B>ITA</B>&quot; means the
                                         <I>Income Tax Act</I> (Canada), R.S.C. 1985, c. 1 (5th Supp.);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(vv)</TD><TD STYLE="text-align: justify">&quot;<B>Material Adverse Change</B>&quot;
                                         or &quot;<B>Material Adverse Effect</B>&quot; means, with respect to Trinidad or Precision,
                                         as the case may be, any fact or state of facts, circumstance, change, effect, occurrence
                                         or event that:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
individually or in the aggregate is, or would reasonably be expected to be, material and adverse to the condition (financial or
otherwise), business, operations, properties, licenses, affairs, assets, liabilities (contingent or otherwise), capitalization,
results of operations or cash flows of Trinidad or Precision and their respective subsidiaries, taken as a whole, as the case
may be, other than any such change, effect, occurrence or event directly or indirectly relating to or resulting from:</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">conditions
                                         affecting the oilfield services industry generally in jurisdictions in which Trinidad
                                         or Precision, as the case may be, carries on business;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">changes
                                         to Applicable Laws, Taxes, IFRS or changes in accounting or regulatory requirements generally
                                         applicable to the oilfield services industry as a whole;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">general
                                         economic, financial, currency exchange, securities or commodity market conditions in
                                         Canada or elsewhere;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">global,
                                         national or regional political conditions, including the outbreak of war or acts of terrorism;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">natural
                                         disasters;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         the case of Trinidad, any matter which has been publically disclosed by Trinidad in the
                                         Trinidad Public Record subsequent to January 1, 2018 (other than a matter which has been
                                         publically disclosed as a risk factor or under a forward-looking information cautionary
                                         statement) or been communicated in writing to Precision, in each case, prior to the date
                                         of this Agreement, and in the case of Precision, any matter which has been publically
                                         disclosed by Precision in the Precision Public Record subsequent to January 1, 2018 (other
                                         than a matter which has been publically disclosed as a risk factor or under a forward-looking
                                         information cautionary statement) or been communicated in writing to Trinidad, in each
                                         case, prior to the date of this Agreement; except in each case to the extent of any fact
                                         or state of facts, circumstance, change, effect, occurrence or event that arises after
                                         the date hereof; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(G)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         the case of either Party, relating to a change in the market trading price or trading
                                         volume of such Party's publicly listed securities (it being understood that, unless otherwise
                                         excluded by subparagraphs (A) through (K) inclusively of this definition, the causes
                                         underlying any such change may be considered to determine whether same constitute a Material
                                         Adverse Change or Material Adverse Effect);</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(H)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         failure of such Party to meet any internal or published projections, forecasts or estimates
                                         of revenues, earnings or cash flow (it being understood that, unless otherwise excluded
                                         by subparagraphs (A) through (K) inclusively of this definition, the causes underlying
                                         any such change may be considered to determine whether same constitute a Material Adverse
                                         Change or Material Adverse Effect);</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(I)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         exercise by a Trinidad JV Shareholder of any of its rights and entitlements under and
                                         in accordance with Section 10.2 of the Trinidad JV Agreement, subject to compliance with
                                         the arrangements mutually agreed between the Parties with respect thereto; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(J)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         announcement of this Agreement and the transactions contemplated hereby, including the
                                         Arrangement or the announcement thereof; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(K)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         the case of Trinidad, any matter expressly consented to in writing by Precision after
                                         the date hereof or permitted or required by this Agreement (excluding Section 3.3(i)
                                         hereof for such purpose), and in the case of Precision, any matter expressly consented
                                         to in writing by Trinidad after the date hereof or permitted or required by this Agreement
                                         (excluding Section 3.1(g) hereof for such purpose);</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 94.5pt">provided however, that where the change or effect referred
to in Sections&nbsp;1.1(vv)(i)(A) through 1.1(vv)(i)(E) primarily relates only to (or has the effect of primarily relating only
to) Trinidad or Precision, as the case may be, or disproportionately affects Trinidad or Precision and its respective subsidiaries,
taken as a whole, as the case may be, compared to other entities of similar size operating in the same jurisdictions in the oilfield
services industry, in which case, the relevant exclusion from this definition of Material Adverse Change or Material Adverse Effect
referred to above shall not be applicable; or</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 94.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
either individually or in the aggregate prevents or materially delays, or individually or in the aggregate would reasonably be
expected to prevent or materially delay, the consummation of the Arrangement or Trinidad or Precision, as the case may be, from
performing its material obligations under this Agreement in any material respect; provided that neither (A)&nbsp;any change, amendment,
modification or variation in the Existing Bid, nor (B)&nbsp;the entering into or announcement of any agreement, commitment or
understanding between Ensign or Persons acting jointly or in concert with Ensign and one or more holders of Trinidad Shares pursuant
to which such holder or holders will tender to such bid, shall constitute a Material Adverse Change or Material Adverse Effect
with respect to Precision or Trinidad, as applicable, within the meaning of this subparagraph&nbsp;(ii).</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ww)</TD><TD STYLE="text-align: justify">&quot;<B>MI 61-101</B>&quot; means
                                         Multilateral Instrument 61-101 &ndash; <I>Protection of Minority Security Holders in
                                         Special Transactions</I>;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(xx)</TD><TD STYLE="text-align: justify">&quot;<B>Misrepresentation</B>&quot;,
                                         &quot;<B>Material Change</B>&quot; and &quot;<B>Material Fact</B>&quot; have the meanings
                                         ascribed thereto under the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(yy)</TD><TD STYLE="text-align: justify">&quot;<B>NI 62-104</B>&quot; means
                                         National Instrument 62-104 &ndash; <I>Take-Over Bids and Issuer Bids</I>;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(zz)</TD><TD STYLE="text-align: justify">&quot;<B>NYSE</B>&quot; means the
                                         New York Stock Exchange;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aaa)</TD><TD STYLE="text-align: justify">&quot;<B>Outside Date</B>&quot;
                                         means March 31, 2019 or such other date as the Parties may agree; provided however, that
                                         if the Required Regulatory Approvals have not been obtained by the Outside Date, the
                                         Outside Date shall be automatically extended by 60 days;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bbb)</TD><TD STYLE="text-align: justify">&quot;<B>Parties</B>&quot; means,
                                         collectively, the parties to this Agreement, and &quot;<B>Party</B>&quot; means any one
                                         of them;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ccc)</TD><TD STYLE="text-align: justify">&quot;<B>Permitted Encumbrances</B>&quot;
                                         means: (i)&nbsp;with respect to Trinidad, Encumbrances specifically disclosed to Precision
                                         by Trinidad in writing and with respect to Precision, Encumbrances specifically disclosed
                                         to Trinidad by Precision in writing; (ii)&nbsp;easements, rights of way, servitudes or
                                         other similar rights, including, without limitation, rights of way for highways, railways,
                                         sewers, drains, gas or oil pipelines, gas or water mains, electric light, power, telephone
                                         or cable television towers, poles, wires and similar rights in real property or any interest
                                         therein, provided the same are registered on title and not of such nature as to materially
                                         adversely affect the use of the property subject thereto; (iii)&nbsp;the regulations
                                         and any rights reserved to or vested in any Governmental Authority to levy Taxes or to
                                         control or regulate any Party's interests in any manner; (iv)&nbsp;undetermined or inchoate
                                         liens incurred or created in the ordinary course of business as security for a Party's
                                         share of the costs and expenses of the development or operation of any of its assets,
                                         which costs and expenses are not delinquent as of the Effective Time; (v)&nbsp;undetermined
                                         or inchoate mechanics' liens and similar liens for which payment for services rendered
                                         or goods supplied is not delinquent as of the Effective Time; (vi)&nbsp;any statutory
                                         Encumbrance for Taxes or other governmental charges or assessments not yet due or delinquent
                                         or the validity of which is being contested in good faith by appropriate proceedings
                                         and for which adequate reserves have been established in accordance with IFRS; (vii)
                                         any Encumbrances under a Party's existing credit facilities; and (viii) purchase money
                                         security interests and liens securing capital leases, provided that (A) such liens are
                                         liens limited to the property or assets purchased or leased, or (B) such Encumbrances
                                         exist as of the date hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ddd)</TD><TD STYLE="text-align: justify">&quot;<B>Person</B>&quot; includes
                                         any individual, firm, partnership, joint venture, venture capital fund, association,
                                         trust, trustee, executor, administrator, legal personal representative, estate group,
                                         body corporate, corporation, unincorporated association or organization, Governmental
                                         Authority, syndicate or other entity, whether or not having legal status;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(eee)</TD><TD STYLE="text-align: justify">&quot;<B>Plan of Arrangement</B>&quot;
                                         means the plan of arrangement under the ABCA substantially in the form set forth in Schedule
                                         &quot;A&quot; to this Agreement, as such plan of arrangement may be amended or supplemented
                                         from time to time in accordance with the terms thereof and hereof or made at the direction
                                         of the Court in the Final Order with the prior written consent of the Parties, each acting
                                         reasonably;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(fff)</TD><TD STYLE="text-align: justify">&quot;<B>Precision</B>&quot; means
                                         Precision Drilling Corporation, a corporation existing under the laws of the Province
                                         of Alberta;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ggg)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Assets</B>&quot;
                                         means all of the assets and equipment (including all attachments, accessories and all
                                         other items required for the operation thereof) used by any member of the Precision Group
                                         in the operation of its business and all drilling rigs and other tangible property owned
                                         by the Precision Group;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hhh)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Balance Sheet</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(o)(i) of Schedule&nbsp;C;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(iii)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Board</B>&quot;
                                         means the board of directors of Precision, as it may be comprised from time to time,
                                         including any duly constituted and acting committee thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jjj)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Damages Event</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;6.2;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kkk)</TD><TD STYLE="text-align: justify">&quot;<B>Precision DSU Plan</B>&quot;
                                         means, collectively, the 2007 Amended and Restated DSU Plan dated January 1, 2007 and
                                         the 2012 DSU Plan dated January 1, 2012;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(lll)</TD><TD STYLE="text-align: justify">&quot;<B>Precision DSUs</B>&quot;
                                         means the deferred share units issued pursuant to the Precision DSU Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mmm)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Financial Statements</B>&quot;
                                         means, collectively:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the audited consolidated financial statements of Precision as at and for the fiscal years ended December 31, 2017 and December
31, 2016, together with the notes thereto and the auditors' report thereon; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the unaudited consolidated financial statements of Precision as at and for the three month periods ended June 30, 2018 and 2017,
together with the notes thereto;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(nnn)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Group</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(c) of Schedule &quot;C&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ooo)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Information</B>&quot;
                                         means the information included in the Information Circular (including information incorporated
                                         into the Information Circular by reference) describing Precision and the business, operations
                                         and affairs of the Precision Group, including any required pro forma financial statements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ppp)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Material Contracts</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(w) of Schedule &quot;C&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(qqq)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Meeting</B>&quot;
                                         means the meeting of Precision Shareholders to be held to consider the issuance of Precision
                                         Shares to Trinidad Securityholders pursuant to the Arrangement and the election of one
                                         Trinidad Nominee to the Precision Board and any adjournment(s) or postponement(s) thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(rrr)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Nomination Agreement</B>&quot;
                                         means the agreement for the nomination of the Trinidad Nominees to the Precision Board,
                                         through to and including Precision's 2019 annual shareholders' meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(sss)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Options</B>&quot;
                                         means the outstanding stock options of Precision granted under the Precision Option Plan,
                                         entitling the holders thereof to acquire Precision Shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ttt)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Option Plan</B>&quot;
                                         means, collectively, the Second Amended and Restated Stock Option Plan dated May 8, 2013
                                         and the Omnibus Equity Incentive Plan dated January 1, 201.;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(uuu)</TD><TD STYLE="text-align: justify">&quot;<B>Precision PSU Plan</B>&quot;
                                         means, collectively, the Drilling Restricted Share Unit and Performance Share Unit Plan
                                         dated March 6, 2015 and the Omnibus Equity Incentive Plan dated January 1, 2017;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(vvv)</TD><TD STYLE="text-align: justify">&quot;<B>Precision PSUs</B>&quot;
                                         means the performance share units issued pursuant to the Precision PSU Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(www)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Public Record</B>&quot;
                                         means all information filed by or on behalf of Precision after January 1, 2017 with the
                                         Securities Authorities, in compliance, or intended compliance, with any Applicable Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(xxx)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Shareholders</B>&quot;
                                         means holders of Precision Shares from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(yyy)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Shares</B>&quot;
                                         means the common shares in the capital of Precision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(zzz)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Termination Fee</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;6.2;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aaaa)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Transaction
                                         Resolution</B>&quot; means the ordinary resolution of the Precision Shareholders to approve:
                                         (i) the issuance of Precision Shares pursuant to the Arrangement; and (ii) the election
                                         of one Trinidad Nominee to the Precision Board;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bbbb)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Voting Agreement</B>&quot;
                                         means the voting agreements between Trinidad and each of the directors and the officers
                                         of Precision disclosed in writing to Trinidad for the purposes of this Section 1.1(bbbb)
                                         pursuant to which each such Person has agreed, among other things, not to dispose of
                                         their Precision Shares prior to the Effective Date, to vote in favour of the Precision
                                         Transaction Resolution and to otherwise support the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(cccc)</TD><TD STYLE="text-align: justify">&quot;<B>Principal Precision Assets</B>&quot;
                                         means the principal Precision Assets (including, without limitation all drilling rigs
                                         and ancillary equipment) disclosed in writing to Trinidad;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(dddd)</TD><TD STYLE="text-align: justify">&quot;<B>Principal Trinidad Assets</B>&quot;
                                         means the principal Trinidad Assets (including, without limitation all drilling rigs
                                         and ancillary equipment) disclosed in writing to Precision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(eeee)</TD><TD STYLE="text-align: justify">&quot;<B>Protective Waivers</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(g)(vii) of Schedule &quot;D&quot;,
                                         as applicable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ffff)</TD><TD STYLE="text-align: justify">&quot;<B>Registrar</B>&quot; means
                                         the Registrar of Corporations or a Deputy Registrar of Corporations appointed pursuant
                                         to section 263 of the ABCA;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(gggg)</TD><TD STYLE="text-align: justify">&quot;<B>Regulatory Approvals</B>&quot;
                                         means any consent, waiver, permit, permission, exemption, review, order, decision or
                                         approval of, or any registration and filing with or withdrawal of any objection or successful
                                         conclusion of any litigation brought by, any Governmental Authority, or the expiry, waiver
                                         or termination of any waiting period imposed by law or a Governmental Authority or pursuant
                                         to a written agreement between the Parties and a Governmental Authority to refrain from
                                         consummating the Arrangement, in each case required or advisable under Applicable Law
                                         in connection with the Arrangement, including the Required Regulatory Approvals;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hhhh)</TD><TD STYLE="text-align: justify">&quot;<B>Representatives</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;6.1(b);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(iiii)</TD><TD STYLE="text-align: justify">&quot;<B>Required Regulatory Approvals</B>&quot;
                                         means the Competition Act Approval and the HSR Act Approval;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jjjj)</TD><TD STYLE="text-align: justify">&quot;<B>SEC</B>&quot; means the
                                         United States Securities Exchange Commission;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kkkk)</TD><TD STYLE="text-align: justify">&quot;<B>Securities Act</B>&quot;
                                         means the <I>Securities Act</I>, R.S.A. 2000, c. S 4, as such may be amended prior to
                                         the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(llll)</TD><TD STYLE="text-align: justify">&quot;<B>Securities Authorities</B>&quot;
                                         means, collectively, the securities commissions or similar securities regulatory authorities
                                         in each of the provinces of Canada and the SEC;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mmmm)</TD><TD STYLE="text-align: justify">&quot;<B>Shareholder Rights Plan</B>&quot;
                                         means the amended and restated shareholder rights plan between Trinidad and TSX Trust
                                         Company, as rights agent, dated May 10, 2017;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(nnnn)</TD><TD STYLE="text-align: justify">&quot;<B>subsidiary</B>&quot; has
                                         the meaning ascribed thereto in the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(oooo)</TD><TD STYLE="text-align: justify">&quot;<B>Superior Proposal</B>&quot;
                                         means an unsolicited written <I>bona fide</I> Acquisition Proposal made after the date
                                         hereof from a Person (other than Precision) that the Trinidad Board determines in good
                                         faith after consultation with its financial and legal advisors (as reflected in the minutes
                                         of the Trinidad Board), is a transaction:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that is not subject to any financing condition and in respect of which adequate arrangements have been made in respect of the
funds or other consideration necessary for the consummation of such Acquisition Proposal, as demonstrated to the satisfaction
of the Trinidad Board, acting in good faith;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that is capable of being completed without undue delay, taking into account all financial, legal, regulatory and other aspects
of such Acquisition Proposal and the Person making such proposal;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that does not or will not require any waiver, modification, or release of, or consent under, any confidentiality, standstill or
similar agreement or restriction to which Trinidad or any of its subsidiaries is a party, and did not otherwise result from or
involve a breach of any agreement between the Person making such proposal or Trinidad of Section&nbsp;6.1;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that is not subject to any due diligence or access condition;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that would, if consummated in accordance with its terms (but not assuming away any risk of non-completion), result in a transaction
more favourable to Trinidad Shareholders from a financial point of view than the transactions contemplated by this Agreement (including
in each case after taking into account any modifications to this Agreement proposed by Precision as contemplated by Section&nbsp;6.1(d));
and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that the failure by the Trinidad Board to accept, recommend, approve or enter into a definitive agreement to implement, such Acquisition
Proposal would be inconsistent with its fiduciary duties.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">Solely for purposes of this definition
of &quot;Superior Proposal&quot; and its use throughout this Agreement, all references to &quot;20%&quot; in the definition of
&quot;Acquisition Proposal&quot; shall instead be construed to refer to &quot;100%&quot;;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(pppp)</TD><TD STYLE="text-align: justify">&quot;<B>Tax</B>&quot; or &quot;<B>Taxes</B>&quot;
                                         shall mean: (i)&nbsp;any and all taxes, duties, fees, excises, premiums, assessments,
                                         imposts, levies and other charges or assessments of any kind whatsoever however denominated
                                         imposed by any Taxing Authority, whether computed on a separate, consolidated, unitary,
                                         combined or other basis, which taxes shall include, without limiting the generality of
                                         the foregoing, all income or profits taxes (including, but not limited to, domestic or
                                         foreign federal income taxes and provincial/state income taxes), payroll and employee
                                         withholding taxes, employment insurance premiums, unemployment insurance, social insurance
                                         taxes, social security taxes, Canada Pension Plan contributions, payroll (including U.S.
                                         Federal Insurance Contribution Act) contributions and taxes, sales and use taxes, value
                                         added taxes, goods and services taxes, harmonized sales taxes, ad valorem taxes, excise
                                         taxes, franchise taxes, gross receipts taxes, municipal taxes, environmental taxes, capital
                                         taxes, corporate minimum taxes, withholding taxes, employee health taxes, surtaxes, customs,
                                         import and export taxes, business license taxes, occupation taxes, real and personal
                                         property taxes, stamp taxes, environmental taxes, transfer taxes, workers' compensation
                                         and other governmental charges, and other obligations of the same or of a similar nature
                                         to any of the foregoing, which any member of the Trinidad Group or the Precision Group,
                                         as applicable, is required to pay, deduct, withhold, remit or collect; (ii)&nbsp;all
                                         interest, penalties, fines, additions to tax or other additional amounts imposed by any
                                         Governmental Authority on or in respect of amounts of the type described in clause (i)
                                         above or this clause&nbsp;(ii); (iii)&nbsp;any liability for the payment of any amounts
                                         of the type described in clauses (i) or (ii) as a result of being a member of an affiliated,
                                         consolidated, combined or unitary group for any period; and (iv)&nbsp;any liability for
                                         the payment of any amounts of the type described in clauses (i) or (ii) as a result of
                                         any express or implied obligation to indemnify any other Person or as a result of being
                                         a transferee or successor in interest to any party;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(qqqq)</TD><TD STYLE="text-align: justify">&quot;<B>Tax Returns</B>&quot;
                                         shall mean all reports, estimates, elections, notices, filings, designations, forms,
                                         declarations of estimated Tax, information statements and returns and other similar documents
                                         relating to, or required to be supplied to any Taxing Authority in connection with, any
                                         Taxes (including, estimated tax returns and reports, withholding tax returns and reports,
                                         information returns and reports, and any schedules, attachments, supplements, appendices
                                         and exhibits thereto), whether in tangible, electronic or other form;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(rrrr)</TD><TD STYLE="text-align: justify">&quot;<B>Taxing Authority</B>&quot;
                                         shall mean any Governmental Authority responsible for the imposition of any Tax (domestic
                                         or foreign);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ssss)</TD><TD STYLE="text-align: justify">&quot;<B>TechSub</B>&quot; means
                                         RigMinder Operating, LLC, a subsidiary of Trinidad;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(tttt)</TD><TD STYLE="text-align: justify">&quot;<B>TechSub Sale Agreement</B>&quot;
                                         means the purchase agreement among RigMinder, Inc., Aspen Energy Partners, LLC, the incentive
                                         unit holders listed on the signature pages thereto and Trinidad Design &amp; Manufacturing
                                         US, Inc. dated August 25, 2017, as amended from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(uuuu)</TD><TD STYLE="text-align: justify">&quot;<B>TechSub Technology</B>&quot;
                                         means the technology owned by TechSub;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(vvvv)</TD><TD STYLE="text-align: justify">&quot;<B>Third Party Beneficiaries</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;10.12;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(wwww)</TD><TD STYLE="text-align: justify">&quot;<B>threatened</B>&quot; when
                                         used in relation to legal action or any other matter, means that a written demand has
                                         been made or a written notice has been given that such legal action or other matter is
                                         to be asserted, commenced, taken or otherwise pursued in the future or that an event
                                         has occurred or circumstances exist that would lead a reasonable Person to conclude that
                                         such legal action or other matter is likely to be asserted, commenced, taken or otherwise
                                         pursued in the future;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(xxxx)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad</B>&quot; means
                                         Trinidad Drilling Limited, a corporation existing under the ABCA;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(yyyy)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Assets</B>&quot;
                                         means all of the assets and equipment (including all attachments, accessories and all
                                         other items required for the operation thereof) used by any member of the Trinidad Group
                                         in the operation of its business and other tangible property owned by the Trinidad Group,
                                         including, but not limited to, the Principal Trinidad Assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(zzzz)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Balance Sheet</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(n)(i) of Schedule&nbsp;D;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aaaaa)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Bank Facility</B>&quot;
                                         means the revolving credit facility of Trinidad for $100 million and US$100 million,
                                         including a $10 million bank swingline and a US$10 million bank swingline with a syndicate
                                         of financial institutions maturing on December 12, 2020;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bbbbb)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Bank Facility
                                         Payout Letter</B>&quot; has the meaning ascribed thereto in Section 5.2(j);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ccccc)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Board</B>&quot;
                                         means the board of directors of Trinidad as it may be comprised from time to time, including
                                         any duly constituted and acting committee thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ddddd)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Change of Control
                                         Payments</B>&quot; means obligations of Trinidad pursuant to all employment and consulting
                                         services agreements, termination, severance and retention plans or policies for severance,
                                         termination or bonus payments (but excluding termination, severance, bonus and related
                                         costs for employees who do not have written agreements in respect of the same) and any
                                         payments pursuant to any other incentive plans (including payments in satisfaction of
                                         Trinidad Incentive Units), arising out of or in connection with the Arrangement, but
                                         not including payments in respect of Trinidad Options as provided in this Agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(eeeee)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Closing VWAP&quot;
                                         </B>has the meaning ascribed thereto in Section&nbsp;2.8(e);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(fffff)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Debt</B>&quot;
                                         means &quot;Consolidated Senior Debt&quot; as such term is defined in the restated credit
                                         agreement dated as of December 12, 2014, initially among Trinidad Drilling Ltd. and Trinidad
                                         Drilling Limited Partnership and its lenders thereunder, as amended by a first amending
                                         agreement dated as of December 11, 2015, a second amending agreement dated as of June
                                         24, 2016, a third amending agreement dated January 27, 2017, and a fourth amending agreement
                                         dated as of November 30, 2017 (and for greater certainty, including all letters of credit
                                         outstanding thereunder);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ggggg)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad DSU Plan</B>&quot;
                                         means the deferred share unit plan of Trinidad dated March&nbsp;11, 2008, as amended
                                         and restated November 8, 2017;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hhhhh)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad DSUs</B>&quot;
                                         means the deferred share units awarded to non-employee Trinidad directors pursuant to
                                         the Trinidad DSU Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(iiiii)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Financial Statements</B>&quot;
                                         means, collectively:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the audited financial statements of Trinidad as at and for the fiscal years ended December 31, 2017 and December 31, 2016, together
with the notes thereto and the auditors' report thereon; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the unaudited financial statements of Trinidad as at and for the six month periods ended June 30, 2018 and 2017, together with
the notes thereto;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jjjjj)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Group</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(c) of Schedule &quot;D&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kkkkk)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad JV Agreement</B>&quot;
                                         means the shareholders' agreement among Trinidad Drilling International Luxembourg S.&agrave;.r.l.,
                                         Trinidad Luxembourg Ops S.&agrave;.r.l. and Halliburton Eurasia Limited dated September
                                         3, 2013, as amended from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(lllll)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad JV Shareholder</B>&quot;
                                         means a Shareholder (as such term is defined in the Trinidad JV Agreement) other than
                                         Trinidad Luxembourg Ops S.&agrave;.r.l. and its successors and permitted assigns;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mmmmm)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Incentive Plans</B>&quot;
                                         means, collectively, the Trinidad DSU Plan, the Trinidad RSU Plan, the Trinidad PSU Plan,
                                         the Trinidad SARs Plan and the Trinidad Option Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(nnnnn)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Incentive Units</B>&quot;
                                         means, collectively, the Trinidad DSUs, Trinidad PSUs, Trinidad RSUs and Trinidad SARs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ooooo)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Information</B>&quot;
                                         means the information included in the Information Circular (including information incorporated
                                         into the Information Circular by reference) describing Trinidad and the business, operations
                                         and affairs of Trinidad Group together with any amendments thereto or supplements thereof
                                         in accordance with the terms of this Agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ppppp)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Market Price</B>&quot;
                                         means the volume weighted average trading price of the Trinidad Shares, calculated by
                                         dividing the total value by the total volume of the Trinidad Shares as traded on the
                                         TSX for the last trading day immediately prior to the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(qqqqq)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Material Contracts</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(x) of Schedule &quot;D&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(rrrrr)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Meeting</B>&quot;
                                         means the special meeting of Trinidad Securityholders to be held to consider the Arrangement
                                         Resolution and related matters, and any adjournment(s) or postponement(s) thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(sssss)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Nominees</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;5.3(f);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ttttt)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Optionholders</B>&quot;
                                         means holders of Trinidad Options;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(uuuuu)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Option Plan</B>&quot;
                                         means the stock option plan of Trinidad, amended and restated as of March 11, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(vvvvv)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Options</B>&quot;
                                         means the outstanding stock options of Trinidad granted under the Trinidad Option Plan,
                                         whether or not vested, entitling the holders thereof to acquire Trinidad Shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(wwwww)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Plans</B>&quot;
                                         has the meaning ascribed thereto in Section&nbsp;(y) of Schedule &quot;D&quot;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(xxxxx)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad PSU Plan</B>&quot;
                                         means performance share unit plan of Trinidad, amended and restated as of March 11, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(yyyyy)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad PSUs</B>&quot;
                                         means the performance share units issued pursuant to the Trinidad PSU Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(zzzzz)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Public Record</B>&quot;
                                         means all information filed by or on behalf of Trinidad since January 1, 2017 with the
                                         Securities Authorities, in compliance, or intended compliance, with any Applicable Canadian
                                         Securities Laws which is available for public viewing on the SEDAR website at www.sedar.com
                                         under Trinidad's profile;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aaaaaa)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad RSUs Plan</B>&quot;
                                         means the amended and restated restricted share unit plan of Trinidad, amended and restated
                                         as of March 11, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bbbbbb)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad RSUs</B>&quot;
                                         means the restricted share units issued pursuant to the Trinidad RSU Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(cccccc)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SARholders</B>&quot;
                                         means holders of Trinidad SARs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(dddddd)</TD><TD STYLE="text-align: justify"><B>&quot;Trinidad SARs</B>&quot;
                                         means the stock appreciation rights issued pursuant to the Trinidad SARs Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(eeeeee)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SARs Plan</B>&quot;
                                         means the amended and restated stock appreciation rights plan of Trinidad, amended and
                                         restated as of March 11, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ffffff)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Securityholders</B>&quot;
                                         means, collectively, the Trinidad Shareholders, the Trinidad Optionholders and the Trinidad
                                         SARholders, from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(gggggg)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Senior Notes</B>&quot;
                                         means the 6.625% senior unsecured notes in the aggregate principal amount of US$350 million
                                         due February 2025 issued by Trinidad pursuant to the terms of the note indenture between
                                         Trinidad and Wells Fargo Bank, N.A., as trustee, dated February 8, 2017;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hhhhhh)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Share Consideration</B>&quot;
                                         means 0.445 of a Precision Share per Trinidad Share;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(iiiiii)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Shareholders</B>&quot;
                                         means holders of Trinidad Shares from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jjjjjj)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Shareholder
                                         Rights Plan</B>&quot; means Trinidad's amended and restated shareholder rights plan dated
                                         as of May 10, 2017, as such may be further amended, amended and restated or replaced
                                         from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kkkkkk)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Shares</B>&quot;
                                         means the common shares in the capital of Trinidad as constituted on the date hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(llllll)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SRP Rights</B>&quot;
                                         means the rights issued pursuant to the Trinidad Shareholder Rights Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(xxxxx)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Transaction
                                         Costs</B>&quot; means, collectively:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the costs of Trinidad and its subsidiaries (whether incurred, accrued or billed) in connection with this Agreement and the Arrangement,
including, without limitation;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">fees
                                         and expenses of financial and accounting advisors, printing, mailing, solicitation, proxy
                                         solicitation services and shareholder communication costs, Trinidad Meeting costs, legal
                                         fees and disbursements, </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">payments
                                         in connection with Trinidad Options and any Trinidad Change of Control Payments;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         costs of Trinidad and its subsidiaries (whether incurred, accrued or billed) in connection
                                         with the Existing Bid and incurred, accrued or billed as of the date hereof; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         costs of Trinidad and its subsidiaries (whether incurred, accrued or billed) in connection
                                         with any other offers or proposals to Trinidad for the outstanding Trinidad Shares or
                                         other strategic transactions and incurred, accrued or billed as of the date hereof;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">but excluding (A) any payment or premium
arising with respect to the Trinidad Senior Notes or the Trinidad Bank Facility as a result of the Arrangement; (B) any costs
incurred in connection with any amendment to this Agreement or the Arrangement; (C) any costs incurred in connection with the
Existing Bid incurred after the date hereof; (D) any reasonable costs incurred in connection with other offers or proposals to
Trinidad for the outstanding Trinidad Shares or other strategic transactions incurred after the date hereof; and (E) any reasonable
additional costs that may be incurred in connection with the Required Regulatory Approvals as agreed by the Parties (items (A)
to (E) are referred to as &quot;<B>Excluded Transaction Costs</B>&quot;).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mmmmmm)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Voting Agreement</B>&quot;
                                         means the voting agreements between Precision and each of the directors of Trinidad and
                                         the officers of Trinidad disclosed in writing to Precision for the purposes of this Section
                                         1.1(mmmmmm), pursuant to which each such Person agreed, among other things, not to dispose
                                         of any of their Trinidad Shares or Trinidad Options prior to the Effective Date, to vote
                                         in favour of the Arrangement Resolution and to otherwise support the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(nnnnnn)</TD><TD STYLE="text-align: justify">&quot;<B>TSX</B>&quot; means
                                         the Toronto Stock Exchange;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(oooooo)</TD><TD STYLE="text-align: justify">&quot;<B>United States</B>&quot;
                                         means the United States of America, its territories and possessions, any state of the
                                         United States, and the District of Columbia;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(pppppp)</TD><TD STYLE="text-align: justify">&quot;<B>U.S. Securities Act</B>&quot;
                                         means the <I>United States Securities Act</I> of 1933; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(qqqqqq)</TD><TD STYLE="text-align: justify">&quot;<B>U.S. Securities Laws</B>&quot;
                                         means collectively, and as the context may require, the applicable federal and state
                                         securities legislation of the United States and all rules, regulations and orders promulgated
                                         thereunder, as amended from time to time, prior to the Effective Date that is binding
                                         upon or applicable to such Person or Persons or its or their business, undertaking, property
                                         or securities and emanate from a Person having jurisdiction over the Person or Persons
                                         or its or their business, undertaking, property or securities.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.2</TD><TD STYLE="text-align: justify">Interpretation Not Affected by Headings,
                                         etc.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The division of this Agreement into articles,
sections, subsections and the insertion of headings is for convenience of reference only and does not affect the construction
or interpretation of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.3</TD><TD STYLE="text-align: justify">Number and Gender</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Words importing the singular number include
the plural and vice versa, and words importing the use of any gender include all genders. If a word is defined in this Agreement
a grammatical derivative of that word shall have a corresponding meaning.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.4</TD><TD STYLE="text-align: justify">Date for Any Action</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">If any date on which any action is required
to be taken hereunder by any of the Parties is not a Business Day in the place where an action is required to be taken, such action
is required to be taken on the next succeeding day which is a Business Day in such place. Notwithstanding the forgoing, this provision
does not apply to the time periods set forth in Section&nbsp;6.1(d).</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.5</TD><TD STYLE="text-align: justify">Entire Agreement</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">This Agreement, the Confidentiality Agreements,
the Precision Nomination Agreement and any specific side or disclosure letters entered into between the Parties in furtherance
of the terms of this Agreement constitute the entire agreement between the Parties pertaining to the subject matter hereof and
supersede all prior agreements, understandings, negotiations and discussions, whether oral or written, between the Parties with
respect to the subject matter hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.6</TD><TD STYLE="text-align: justify">Statute and Agreement References</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Any reference in this Agreement to any statute
or any section thereof shall, unless otherwise expressly stated, be deemed to be a reference to any regulations promulgated thereunder
from time to time in effect and such statute or section (or regulations thereunder) as amended, restated or re-enacted from time
to time. References to any agreement or document shall be to such agreement or document (together with all schedules and exhibits
thereto), as it may have been or may hereafter be amended, supplemented, replaced or restated from time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.7</TD><TD STYLE="text-align: justify">Schedules</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The following Schedules annexed to this Agreement,
being:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Schedule &quot;A&quot; &ndash; Plan of Arrangement</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Schedule &quot;B&quot; &ndash; Form of Arrangement
Resolution</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Schedule &quot;C&quot; &ndash; Representations
and Warranties of Precision</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Schedule &quot;D&quot; &ndash; Representations
and Warranties of Trinidad</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">are incorporated by reference into this Agreement
and form a part hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.8</TD><TD STYLE="text-align: justify">Currency</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Unless otherwise stated, all references in
this Agreement to sums of money are expressed in lawful money of Canada.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.9</TD><TD STYLE="text-align: justify">Accounting Matters</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Unless otherwise stated, all accounting terms
used in this Agreement shall have the meanings attributable thereto under, and all determinations of an accounting nature are
required to be made shall be made in a manner consistent with IFRS.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.10</TD><TD STYLE="text-align: justify">Interpretation Not Affected by Party
                                         Drafting</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The Parties acknowledge that their respective
legal counsel have reviewed and participated in settling the terms of this Agreement, and the Parties agree that any rule of construction
to the effect that any ambiguity is to be resolved against the drafting party will not be applicable in the interpretation of
this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">1.11</TD><TD STYLE="text-align: justify">Knowledge</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Where any representation or warranty contained
in this Agreement is expressly qualified by reference to the knowledge of a Party, it refers to the actual knowledge of, in the
case of Trinidad, the President and Chief Executive Officer, the Chief Financial Officer and the Chief Operating Officer and,
in the case of Precision, the President and Chief Executive Officer, the Senior Vice President and Chief Financial Officer and
the President Drilling Operations, in each case after due inquiry, as of the date of this Agreement and does not include any constructive,
implied or imputed knowledge.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
2<BR>
<FONT STYLE="font-size: 10pt">THE ARRANGEMENT</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.1</TD><TD STYLE="text-align: justify">Plan of Arrangement</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">On the terms and subject to the conditions
                                         set forth in this Agreement, the Parties agree to carry out the Arrangement in accordance
                                         with the Plan of Arrangement pursuant to which (among other things):</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Trinidad Shareholder (other than those Trinidad Shareholders who have validly exercised Dissent Rights) shall receive, for
each Trinidad Share (including, for greater certainty, Trinidad Shares deemed to be issued pursuant to Section&nbsp;2.1(a)(ii))
the Trinidad Share Consideration which shall be payable, through the issuance of Precision Shares;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the Arrangement and as set forth in the Plan of Arrangement, Trinidad Optionholders that have not, immediately prior
to the Effective Time, exercised or surrendered all of their Trinidad Options in accordance with their terms by making payment
to Trinidad of the exercise price therefor and the amount of withholding taxes applicable thereon, shall without any further action
or formality on behalf of the holder thereof and Trinidad and without any payment and notwithstanding the terms of the Trinidad
Option Plan, be deemed to have:</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         respect of Trinidad Options outstanding at the Effective Time that have an exercise price
                                         that is less than the Trinidad Market Price, surrendered such Trinidad Options to Trinidad
                                         for cancellation and the holders thereof shall receive, in respect of each such surrendered
                                         Trinidad Option to Trinidad, an amount equal to the amount by which the Trinidad Market
                                         Price exceeds the exercise price thereof (the &quot;<B>In-the-Money Amount</B>&quot;),
                                         payable in Trinidad Shares, with the number of Trinidad Shares issuable in payment thereof
                                         being equal to the In-the-Money Amount of such Trinidad Options (less the amount of applicable
                                         withholdings) divided by the Trinidad Market Price, in full satisfaction of Trinidad's
                                         obligations under such Trinidad Options and Trinidad Shares deemed to have been issued
                                         under this Section&nbsp;2.1(a)(iii)(A) shall be deemed to have been transferred by the
                                         holder thereof to Precision for the Trinidad Share Consideration pursuant to Section&nbsp;2.1(a)(i);
                                         and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         respect of Trinidad Options outstanding at the Effective Time that have an exercise price
                                         that is equal to or greater than the Trinidad Market Price, surrendered such Trinidad
                                         Options for cancellation and the holders thereof shall receive, in respect of each such
                                         surrendered Trinidad Option, a cash payment from Trinidad equal to $0.01, in full satisfaction
                                         of Trinidad's obligations under such Trinidad Option; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pursuant
                                         to the Arrangement and as set forth in the Plan of Arrangement, Trinidad SARholders that
                                         have not, immediately prior to the Effective Time, exercised all of their Trinidad SARs
                                         in accordance with their terms, shall without any further action or formality on behalf
                                         of the holder thereof and Trinidad and without any payment and notwithstanding the terms
                                         of the Trinidad SARs Plan, be deemed to have:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         respect of Trinidad SARs outstanding at the Effective Time that have an exercise price
                                         that is less than the Trinidad Closing VWAP, exercised and surrendered such Trinidad
                                         SARs and the holders thereof shall receive, in respect of each such exercised Trinidad
                                         SAR, a cash payment equal to the amount by which the Trinidad Closing VWAP exceeds the
                                         exercise price thereof (less the amount of applicable withholdings), in full satisfaction
                                         of Trinidad's obligations under such Trinidad SARs; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         respect of Trinidad SARs outstanding at the Effective Time that have an exercise price
                                         that is equal to or greater than the Trinidad Closing VWAP, surrendered such Trinidad
                                         SARs for cancellation and the holders thereof shall receive, in respect of each such
                                         surrendered Trinidad SAR, a cash payment from Trinidad equal to $0.01, in full satisfaction
                                         of Trinidad's obligations under such Trinidad SAR.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">If on or after the date hereof, Precision
                                         or Trinidad declares, sets aside or pays any cash dividend or other cash distribution
                                         to the Precision Shareholders or Trinidad Shareholders, respectively, of record as of
                                         a time prior to the Effective Time, the Parties will make such adjustments to the Trinidad
                                         Shares Consideration as they determine, acting in good faith, to be necessary to restore
                                         the original agreement of the Parties in the circumstances.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">The Arrangement has been and shall
                                         continue to be structured such that on the Effective Date the issuance of Precision Shares
                                         issuable to the Trinidad Shareholders under the Arrangement: (i) will be made in compliance
                                         with Applicable Canadian Securities Laws and U.S. Securities Laws; and (ii) assuming
                                         the Arrangement Resolution is approved and assuming the Court considers the fairness
                                         of the terms and conditions of the Arrangement and the Final Order is obtained, will
                                         not require registration under the U.S. Securities Act, in reliance on Section 3(a)(10)
                                         of the U.S. Securities Act.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">The Plan of Arrangement may be amended
                                         in accordance with Section&nbsp;7.2. On the second Business Day after the last of the
                                         conditions set forth in Article 5 have been satisfied (other than those conditions that
                                         by their nature are to be satisfied at closing of the Arrangement, but subject to satisfaction
                                         or waiver of those conditions) or, where not prohibited, waived by the applicable Party
                                         or Parties in whose favour the condition is, unless another time or date is agreed to
                                         in writing by the Parties (the &quot;<B>Effective Date</B>&quot;), the Parties will complete
                                         the Arrangement and the Arrangement shall become effective at the Effective Time whereupon
                                         the steps comprising the Plan of Arrangement will be deemed to occur in the order, at
                                         the times, and in the manner set forth therein. The closing of the transactions contemplated
                                         hereby will take place at the offices of counsel to Trinidad or at such other location
                                         as may be agreed upon by the Parties.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">The Parties shall use their reasonable
                                         commercial efforts to cause the Effective Date to occur as soon as practicable and in
                                         any event by the Outside Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.2</TD><TD STYLE="text-align: justify">Recommendation of Precision Board</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Precision represents and warrants to Trinidad
that its board of directors:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">has unanimously determined, after
                                         receiving the advice of its financial and legal advisors that:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
it will recommend the Precision Shareholders vote in favour of the Precision Transaction Resolution; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Arrangement and the entry into this Agreement are in the best interests of Precision; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">has received an opinion from RBC Capital
                                         Markets that the Trinidad Share Consideration to be paid under the Arrangement is fair,
                                         from a financial point of view, to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Notice of such approvals, determinations and resolution shall,
subject to the terms hereof, be included, along with the written fairness opinion of RBC Capital Markets, confirming the aforementioned
opinion of such financial advisor, in the Information Circular.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.3</TD><TD STYLE="text-align: justify">Recommendation of Trinidad Board</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Trinidad represents and warrants to Precision
that its board of directors:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">has unanimously determined, after
                                         receiving the advice of its financial and legal advisors that:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Arrangement is fair to the Trinidad Shareholders;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
it will unanimously recommend the Trinidad Securityholders vote in favour of the Arrangement Resolution; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Arrangement and the entry into this Agreement are in the best interests of Trinidad and the Trinidad Shareholders; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">has received an opinion from TD Securities
                                         Inc. that the Trinidad Share Consideration is fair, from a financial point of view to
                                         the Trinidad Shareholders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Notice of such approvals, determinations and resolution shall,
subject to the terms hereof, be included, along with the written fairness opinion of TD Securities Inc., confirming the aforementioned
opinion of such financial advisor, in the Information Circular.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.4</TD><TD STYLE="text-align: justify">Interim Order</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Trinidad agrees that as soon as reasonably
practicable after the date hereof, Trinidad shall apply in a manner reasonably acceptable to Precision pursuant to section 193
of the ABCA and, in cooperation with Precision, acting reasonably, prepare, file and diligently pursue an application for the
Interim Order, which shall provide, among other things:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">for the calling and the holding of
                                         the Trinidad Meeting, including the record date for determining the Persons to whom notice
                                         of the Trinidad Meeting is to be provided and for determining the Persons entitled to
                                         vote at the Trinidad Meeting and for the manner in which such notice is to be provided;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">that the securities of Trinidad for
                                         which holders as at the record date established for the Trinidad Meeting shall be entitled
                                         to vote on the Arrangement Resolution shall be the Trinidad Shares, the Trinidad Options
                                         and the Trinidad SARs, all voting together as a single class;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">that all Trinidad Securityholders
                                         as at the record date established for the Trinidad Meeting shall be entitled to vote
                                         on the Arrangement Resolution, with each Trinidad Securityholder being entitled to one
                                         vote for each Trinidad Share, Trinidad Option and Trinidad SAR held by it;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">that subject to the approval of the
                                         Court, the requisite level of approval for the Arrangement Resolution shall be at least:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
two-thirds of the aggregate votes cast on the Arrangement Resolution by those Trinidad Securityholders present in person or represented
by proxy at the Trinidad Meeting; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if required, a majority of the votes cast on the Arrangement Resolution by the Trinidad Shareholders present in person or represented
by proxy at the Trinidad Meeting, excluding Trinidad Shares that are required to be excluded pursuant to MI 61-101 for purposes
of the Arrangement;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">that, in all other respects, the terms,
                                         restrictions and conditions of the constating documents of Trinidad, including quorum
                                         requirements and all other matters, shall apply in respect of the Trinidad Meeting, except
                                         as modified by the Interim Order;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">for the grant of the Dissent Rights
                                         as set forth in the Plan of Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">for the notice requirements with respect
                                         to the presentation of the application to the Court for the Final Order;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify">that the Trinidad Meeting may be adjourned
                                         or postponed from time to time by Trinidad with the consent of Precision without the
                                         need for additional approval of the Court;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify">that, unless required by Applicable
                                         Laws, the record date for determining Trinidad Securityholders entitled to notice of
                                         and to vote at the Trinidad Meeting will not change in respect of any adjournment or
                                         postponement of the Trinidad Meeting; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify">for such other matters as the Parties
                                         may agree in writing, each acting reasonably.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">In the application for the Interim Order,
Trinidad shall inform the Court that the Parties intend to rely on the exemption provided by Section 3(a)(10) of the U.S. Securities
Act for the issuance of the Precision Shares, pursuant to the Arrangement and that, in connection therewith, the Court will be
required to approve the substantive and procedural fairness of the terms and conditions of the Arrangement to each Person to whom
Precision Shares will be issued. Each Person to whom Precision Shares will be issued on completion of the Arrangement will be
given adequate notice advising them of their right to attend and appear before the Court at the hearing of the Court for the Final
Order and providing them with adequate information to enable such Person to exercise such right.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.5</TD><TD STYLE="text-align: justify">Information Circular</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">As promptly as practical following the execution of this Agreement,
and in compliance with the Interim Order and Applicable Laws (including Applicable Canadian Securities Laws):</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Precision and Trinidad will prepare
                                         the Information Circular and provide, in a timely and expeditious manner, all Precision
                                         Information and Trinidad Information, respectively, for inclusion in the Information
                                         Circular and any amendments or supplements thereto, in each case complying in all material
                                         respects with all requirements of Applicable Laws on the date of issue thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">Trinidad shall call, give notice of
                                         and convene the Trinidad Meeting by no later than December 13, 2018 at which meeting
                                         the Arrangement Resolution shall be submitted to the Trinidad Securityholders entitled
                                         to vote upon such resolution for approval and, unless as otherwise agreed in writing
                                         between the Parties, shall not adjourn, postpone or cancel (or propose to adjourn, postpone
                                         or cancel) or fail to call the Trinidad Meeting (notwithstanding the fact that Trinidad
                                         may be in receipt of a Superior Proposal) without prior written consent of Precision
                                         except for adjournments or postponements:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as required for quorum purposes (in which case the Trinidad Meeting shall be adjourned) or by Applicable Law or by a Governmental
Authority; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as required under Section&nbsp;6.1(g) or Section 5.4;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">Precision shall call, give notice
                                         of and convene the Precision Meeting by no later than December 13, 2018 at which meeting
                                         the Precision Transaction Resolution shall be submitted to the Precision Shareholders
                                         entitled to vote upon such resolution for approval and, unless as otherwise agreed in
                                         writing between the Parties, shall not adjourn, postpone or cancel (or propose to adjourn,
                                         postpone or cancel) or fail to call the Precision Meeting without prior written consent
                                         of Trinidad except for adjournments or postponements:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as required for quorum purposes (in which case the Precision Meeting shall be adjourned) or by Applicable Law or by a Governmental
Authority; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
as required under Section 5.4;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Precision and Trinidad shall ensure
                                         that the Information Circular provides Precision Shareholders (subject to Trinidad's
                                         compliance with Section&nbsp;2.5(a)) and Trinidad Securityholders (subject to Precision's
                                         compliance with Section&nbsp;2.5(a)), respectively, with information in sufficient detail
                                         to permit them to form a reasoned judgment concerning the matters before them, in all
                                         cases ensuring compliance in all material respects with all Applicable Canadian Securities
                                         Laws on the date of issue thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Trinidad shall cause the Information
                                         Circular to be mailed to the Trinidad Securityholders and filed with applicable regulatory
                                         authorities and other Governmental Authorities in all jurisdictions where the same is
                                         required to be mailed and filed; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Precision shall cause the Information
                                         Circular to be mailed to the Precision Shareholders and filed with applicable regulatory
                                         authorities and other Governmental Authorities in all jurisdictions where the same is
                                         required to be mailed and filed.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.6</TD><TD STYLE="text-align: justify">Preparation of Filings</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Precision and Trinidad shall cooperate
                                         in:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
seeking the Interim Order and the Final Order, including by Precision providing Trinidad on a timely basis any information required
to be supplied by Precision concerning itself in connection therewith. Trinidad shall provide legal counsel to Precision with
reasonable opportunity to review and comment upon drafts of all material to be filed with the Court in connection with the Arrangement,
and shall give reasonable consideration to all such comments. Trinidad shall also provide legal counsel to Precision on a timely
basis with copies of any notice of appearance and evidence served on Trinidad or its legal counsel in respect of the application
for the Final Order or any appeal therefrom. Subject to Applicable Laws, Trinidad shall not file any material with the Court or
any Governmental Authority in connection with the Arrangement or serve any such material, and shall not agree to modify or amend
materials so filed or served, except with Precision's prior written consent, such consent not to be unreasonably withheld, conditioned
or delayed; provided that nothing herein shall require Precision to agree or consent to any increase in the Trinidad Share Consideration
to be received by Trinidad Shareholders or other modification or amendment to such filed or served materials that expands or increases
Precision's obligations, or diminishes or limits Precision's rights, set forth in any such filed or served materials or under
this Agreement; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the taking of all such action as may be required under the ABCA, Applicable Canadian Securities Laws and U.S. Securities Laws
in connection with the transactions contemplated by this Agreement and the Plan of Arrangement.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">Each of Precision and Trinidad shall
                                         promptly furnish to the other all information concerning it as may be required to effect
                                         the actions described in Section&nbsp;2.1 and the foregoing provisions of this Section&nbsp;2.6,
                                         and each covenants that no information furnished by it in connection with such actions
                                         or otherwise in connection with the consummation of the Arrangement and the other transactions
                                         contemplated by this Agreement will contain any Misrepresentation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.7</TD><TD STYLE="text-align: justify">Trinidad Employee Obligations</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">At the Effective Date, Trinidad shall
                                         terminate the employment of all Executive Employees in accordance with Applicable Laws
                                         or their written employment agreements (if applicable).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">All severance or similar payments
                                         to Executive Employees as a result of the termination of their employment shall be made
                                         by Trinidad at the Effective Time conditional upon the execution by the Executive Employee
                                         of a release in favour of Trinidad and Precision and the individual in form and substance
                                         satisfactory to Trinidad and Precision, each acting reasonably, provided that no such
                                         release shall impose any non-solicitation or non-competition obligation on the releasor;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">If an employee is entitled to a severance
                                         payment that is specifically set out in a written employment agreement, severance agreement
                                         or otherwise, the Parties agree that the amount of such severance payment shall not exceed
                                         the amount disclosed in writing by Trinidad to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">The Parties acknowledge that the Arrangement
                                         will result in a &quot;change of control&quot; for purposes of any Trinidad executive
                                         and employee employment and other agreements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Trinidad has disclosed in writing
                                         to Precision its <I>bona fide</I> good faith estimate of the Trinidad Change of Control
                                         Payments, severance payment entitlements pursuant to severance agreements or other written
                                         agreements, bonus entitlements and all other material compensation entitlements, and
                                         such disclosure includes:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the name of each individual entitled to a payment; a description of the agreement or plan or other legal requirement under which
the payment arises and relevant section references; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if applicable, the total amount of each individual's payment and the method of calculating such payment.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.8</TD><TD STYLE="text-align: justify">Treatment of Trinidad Options and
                                         Trinidad Incentive Units</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Trinidad has disclosed in writing
                                         to Precision the full particulars of the Trinidad Options and Trinidad Incentive Units
                                         outstanding as of the date hereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">The Parties acknowledge that the Arrangement
                                         will result in a &quot;change of control&quot; for purposes of the Trinidad Incentive
                                         Plans.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">The Trinidad Board has approved the
                                         vesting of all outstanding Trinidad Options and Trinidad Incentive Units effective before
                                         the Effective Date conditional upon the subsequent consummation of the Arrangement in
                                         order that all such outstanding Trinidad Options and Trinidad Incentive Units shall be
                                         fully vested and deemed to have been exercised or surrendered immediately before or at
                                         the Effective Time in accordance with the terms of this Agreement and the Trinidad Incentive
                                         Plans.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">In the case of the Trinidad Options
                                         and the Trinidad SARs, each Trinidad Optionholder and Trinidad SARholder shall be deemed
                                         to have exercised or surrendered all of their Trinidad Options and Trinidad SARs in accordance
                                         with the provisions set forth in Section 2.1(a)(ii) and (iii) and the Plan of Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">In the case of the Trinidad Incentive
                                         Units (other than the Trinidad SARs), each holder thereof shall be deemed to have exercised
                                         or surrendered all of their Trinidad Incentive Units and shall receive a payment from
                                         Trinidad on or as soon as practicable after the Effective Date of cash equal to the fair
                                         market value of the Trinidad Incentive Unit, calculated in accordance with the relevant
                                         Trinidad Incentive Plan based on the five day volume weighted trading price of the Trinidad
                                         Shares ending on the second last trading day immediately prior to the Effective Date
                                         (the &quot;<B>Trinidad Closing VWAP</B>&quot;), multiplied by the number of Trinidad
                                         Incentive Units so held (less applicable withholdings) in complete satisfaction of such
                                         Trinidad Incentive Units.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">The Parties agree that satisfaction
                                         of Tax remittance obligations with respect to the exercise or surrender of Trinidad Options
                                         outstanding at the Effective Time shall be accomplished in accordance with the provisions
                                         set forth in the Plan of Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">The Parties acknowledge and agree
                                         that:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Trinidad will elect under subsection 110(1.1) of the ITA, in prescribed form, in respect of a Trinidad Option surrendered pursuant
to the terms thereof for the In-the-Money Amount or pursuant to the terms of the Arrangement, as applicable, that neither Trinidad,
nor any Person who does not deal at &quot;arm's length&quot; with Trinidad, within the meaning of the ITA, will deduct, in computing
its income for the purposes of the ITA, any amount in respect of a payment made to holders of Trinidad Options in consideration
for the surrender of such Trinidad Options; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Trinidad will provide holders of Trinidad Options who have surrendered such Trinidad Options with evidence in writing of the election
under subsection 110(1.1) of the ITA.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.9</TD><TD STYLE="text-align: justify">Effective Date</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The Arrangement shall become effective at
the Effective Time. Provided all necessary approvals for the Arrangement Resolution and Precision Transaction Resolution are obtained
from the Trinidad Shareholders and the Precision Shareholders, as the case may be, Trinidad shall, as soon as reasonably practicable
following the Trinidad Meeting and the Precision Meeting, submit the Arrangement to the Court and apply for the Final Order.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">As soon as reasonably practicable, but in
any event no later than two Business Days following the satisfaction or waiver of the conditions set out in Article 5, (other
than those conditions that by their nature are to be satisfied at closing of the Arrangement, but subject to satisfaction or waiver
of those conditions) each of Precision on the one hand and Trinidad on the other hand, shall execute and deliver such closing
documents and instruments and forthwith proceed to file the Articles of Arrangement, the Final Order and such other documents
as may be required to give effect to the Arrangement with the Registrar pursuant to subsection 193(10) of the ABCA, whereupon
the transactions comprising the Arrangement shall occur and shall be deemed to have occurred in the order set out in the Plan
of Arrangement without further act or formality.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.10</TD><TD STYLE="text-align: justify">Dissenting Shareholders</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Registered Trinidad Shareholders entitled
to vote at the Trinidad Meeting may exercise Dissent Rights with respect to their Trinidad Shares in connection with the Arrangement
pursuant to and in the manner set forth in the Plan of Arrangement and the Interim Order. Trinidad shall promptly give Precision
notice of any written notice of a dissent, withdrawal of such notice, and any other instruments served pursuant to such Dissent
Rights and received by Trinidad and promptly provide Precision with copies of such notices and written objections and all other
correspondence related thereto.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.11</TD><TD STYLE="text-align: justify">Tax Matters</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Precision, Trinidad and the Depositary shall
be entitled to deduct or withhold from any amount otherwise payable to any Trinidad Shareholder, Trinidad Optionholder or holder
of Trinidad Incentive Units, as applicable, and, for greater certainty, from any amount payable to a Trinidad Shareholder who
has validly exercised, and not withdrawn, Dissent Rights, as the case may be, under the Plan of Arrangement such amounts as Precision,
Trinidad or the Depositary is required or reasonably believes is required to be deducted or withheld from such consideration in
accordance with Applicable Law. Any such amounts will be deducted or withheld from the consideration payable pursuant to the Plan
of Arrangement and shall be treated for all purposes as having been paid to the Trinidad Shareholder, Trinidad Optionholder or
holder of Trinidad Incentive Units in respect of which such deduction or withholding was made, provided that such deducted or
withheld amounts are actually remitted to the appropriate Taxing Authority within the time prescribed by Applicable Law.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.12</TD><TD STYLE="text-align: justify">Voting Agreements</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Trinidad has concurrent with the signing
                                         of this Agreement, delivered to Precision the Trinidad Voting Agreements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">Precision has concurrent with the
                                         signing of this Agreement, delivered to Trinidad the Precision Voting Agreements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">2.13</TD><TD STYLE="text-align: justify">U.S. Securities Laws</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The Arrangement shall be structured and executed
such that, assuming the Court considers the fairness of the terms and conditions of the Arrangement and grants the Final Order,
the issuance of the Precision Shares issuable to Trinidad Shareholders under the Arrangement will not require registration under
the U.S. Securities Act, in reliance upon Section&nbsp;3(a)(10) thereof. Each Party agrees to act in good faith, consistent with
the intent of the Parties and the intended treatment of the Arrangement as set forth in this Section&nbsp;2.13.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
3<BR>
<FONT STYLE="font-size: 10pt">COVENANTS</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.1</TD><TD STYLE="text-align: justify">Covenants of Precision</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Precision covenants and agrees that, from
the date of this Agreement until the earlier of the Effective Date or termination of this Agreement, except with the prior written
consent of Trinidad (not to be unreasonably withheld, delayed or conditioned), and except as otherwise expressly permitted or
specifically contemplated by this Agreement (including the Plan of Arrangement) or required by Applicable Laws:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Precision will use its reasonable
                                         commercial efforts to satisfy or cause the satisfaction of the conditions set forth in
                                         Section&nbsp;5.1 and Section&nbsp;5.3 as soon as reasonably practicable, to the extent
                                         the fulfillment of the same is within the control of Precision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">Precision will forthwith carry out
                                         the terms of the Interim Order and the Final Order to the extent applicable to it and
                                         will use its reasonable commercial efforts to assist Trinidad in obtaining such orders
                                         and to carry out the intent or effect of this Agreement and the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">Precision will make all necessary
                                         filings and applications under Applicable Laws, including Applicable Canadian Securities
                                         Laws and U.S. Securities Laws, if applicable, required on the part of Precision in connection
                                         with the transactions contemplated herein and take all commercially reasonable action
                                         necessary to be in compliance with such Applicable Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Precision shall not take any action,
                                         refrain from taking any action, or permit any action to be taken or not taken, inconsistent
                                         with this Agreement, which might directly or indirectly interfere with or affect the
                                         consummation of the Arrangement and the transactions contemplated hereby;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">subject to Trinidad's compliance with
                                         Section&nbsp;2.5(a), Precision shall ensure that the Precision Information included in
                                         the Information Circular complies with Applicable Laws and, without limiting the generality
                                         of the foregoing, that the Precision Information will not contain a Misrepresentation
                                         and the Information Circular provides Precision Shareholders with information in sufficient
                                         detail to permit them to form a reasoned judgment concerning the matters before them,
                                         and, in that regard, the Information Circular will set out Precision Information in the
                                         form approved by Precision and Trinidad Information in the form approved by Trinidad
                                         and shall include, without limitation:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the pro forma financial statements required by Applicable Canadian Securities Laws;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the unanimous recommendation by the Precision Board that Precision Shareholders vote in favour of the Precision Transaction Resolution;
and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the fairness opinion of RBC Capital Markets that the Trinidad Share Consideration to be paid under the Arrangement is fair, from
a financial point of view, to Precision;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Precision shall indemnify and save
                                         harmless Trinidad and its directors, officers, employees, advisors and agents from and
                                         against any and all liabilities, claims, demands, losses, costs, damages and expenses
                                         (excluding any loss of profits or consequential damages) to which Trinidad, its affiliates
                                         or subsidiaries or their respective directors, officers, employees, advisors or agents
                                         may be subject or which Trinidad or its directors, officers, employees, advisors or agents
                                         may suffer or incur, whether under the provisions of any statute or otherwise, in any
                                         way caused by, or arising, directly or indirectly, from or in consequence of:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any Misrepresentation or alleged Misrepresentation contained solely in the Precision Information included in the Information Circular
or in any material filed by Precision in compliance or intended compliance with any Applicable Laws; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any order made or any inquiry, investigation or proceeding by any securities commission or other competent authority based upon
any untrue statement or omission or alleged untrue statement or omission of a Material Fact or any Misrepresentation or any alleged
Misrepresentation in the Precision Information included in the Information Circular or in any material filed by or on behalf of
Precision in compliance or intended compliance with Applicable Canadian Securities Laws and applicable U.S. Securities Laws,</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">except that Precision shall not be liable in any such
case to the extent that any such liabilities, claims, demands, losses, costs, damages and expenses arise out of or are based upon
any Misrepresentation or alleged Misrepresentation based on the Trinidad Information;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">the business of Precision shall be
                                         conducted in the usual and ordinary course of business and Precision shall use all reasonable
                                         commercial efforts to maintain and preserve its business, assets and business relationships;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify">Precision shall not, directly or indirectly
                                         do, or permit to occur, any of the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
amend its constating documents;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
except in relation to any internal transactions solely involving Precision and its wholly-owned subsidiaries or solely among such
subsidiaries, declare, set aside or pay any non-cash dividend or make any other non-cash payment in respect of its outstanding
securities;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
split, combine or reclassify any of Precision Shares;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
sell, transfer or dispose of all or substantially all of Precision's assets; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">adopt
                                         a plan of liquidation or resolutions providing for the liquidation, dissolution, or similar
                                         action of Precision; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
reduce the stated capital of any of the shares of Precision; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into or modify any Contract, commitment or arrangement with respect to any of the foregoing;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify">subject to Sections&nbsp;3.6(e) and&nbsp;10.4,
                                         and except for non-substantive communications with third parties and communications to
                                         legal and other advisors of Precision, Precision will furnish promptly to Trinidad and
                                         its legal counsel: (i) a copy of each notice, report, schedule or other document delivered,
                                         filed or received by Precision in connection with the Arrangement from any Governmental
                                         Authority; (ii) any filings under Applicable Laws in connection with the Arrangement;
                                         and (iii) any documents related to dealings with Governmental Authorities in connection
                                         with the transactions contemplated herein;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify">Precision will continue to maintain
                                         its status as a &quot;reporting issuer&quot; (or similarly designated entity) not in
                                         default under the Applicable Canadian Securities Laws or U.S. Securities Laws where it
                                         is a reporting issuer at the date hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(k)</TD><TD STYLE="text-align: justify">Precision will maintain the listing
                                         of the Precision Shares on the Exchanges;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(l)</TD><TD STYLE="text-align: justify">Precision will secure all consents
                                         of third parties that are required to permit the inclusion of any reference to their
                                         names in, or in relation to, any Precision Information included in the Information Circular,
                                         including by reason of their name being included in a document incorporated by reference
                                         in the Information Circular, or otherwise, and will provide copies of such consents to
                                         Trinidad as soon as reasonably practicable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(m)</TD><TD STYLE="text-align: justify">prior to the Effective Date, Precision
                                         shall provide the Depositary under the Plan of Arrangement, an irrevocable direction
                                         authorizing and directing such Depositary to deliver the Precision Shares issuable pursuant
                                         to the Arrangement to holders of the Trinidad Shares in accordance with the Plan of Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(n)</TD><TD STYLE="text-align: justify">Precision shall apply to the Exchanges
                                         for conditional approval of the listing of the Precision Shares issuable pursuant to
                                         the Arrangement on the Exchanges and shall use all reasonable commercial efforts to obtain
                                         such conditional approval or approval, subject only to customary conditions for listing
                                         of such Precision Shares, including receiving the approval of the Precision Shareholders
                                         for the Precision Transaction Resolution, prior to the mailing of the Information Circular;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(o)</TD><TD STYLE="text-align: justify">Precision will cause to be taken all
                                         necessary corporate action to allot and reserve for issuance the Precision Shares to
                                         be issued in exchange for Trinidad Shares in connection with the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(p)</TD><TD STYLE="text-align: justify">Precision shall advise Trinidad, as
                                         Trinidad may request, and on a daily basis on each of the last ten (10) Business Days
                                         prior to the proxy cut-off date for the Precision Meeting, as to the aggregate tally
                                         of the proxies received by Precision in respect of the Precision Transaction Resolution
                                         and any other matters to be considered at the Precision Meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(q)</TD><TD STYLE="text-align: justify">except as contemplated herein, Precision
                                         shall not take any action, refrain from taking any action, or permit any action to be
                                         taken by it or any of its subsidiaries that would render, or may reasonably be expected
                                         to render, any representation or warranty made by Precision in this Agreement untrue
                                         in any material respect at any time prior to the Effective Date or termination of this
                                         Agreement, whichever first occurs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(r)</TD><TD STYLE="text-align: justify">Precision shall promptly notify Trinidad
                                         in writing of any Material Adverse Change with respect to Precision or of any change
                                         in any representation or warranty provided by Precision in this Agreement which change
                                         is or may be of such a nature as to render any representation or warranty misleading
                                         or untrue in any material respect and Precision shall in good faith discuss with Trinidad
                                         any such change in circumstances (actual, anticipated, contemplated, or to the knowledge
                                         of Precision, threatened) which is of such a nature that there may be a reasonable question
                                         as to whether notice need be given to Trinidad pursuant to this provision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(s)</TD><TD STYLE="text-align: justify">Precision shall promptly advise Trinidad
                                         in writing of any material breach by Precision of any covenant, obligation or agreement
                                         contained in this Agreement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(t)</TD><TD STYLE="text-align: justify">Precision shall use its reasonable
                                         commercial efforts to obtain and maintain all material third party approvals (excluding
                                         Regulatory Approvals) required in connection with the transactions contemplated by this
                                         Agreement and provide the same to Trinidad on or prior to the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(u)</TD><TD STYLE="text-align: justify">management of Precision shall solicit
                                         proxies to be voted at the Precision Meeting in favour of matters to be considered at
                                         the Precision Meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(v)</TD><TD STYLE="text-align: justify">Precision shall convene and conduct
                                         the Precision Meeting in accordance with the by-laws of Precision, any instrument governing
                                         the Precision Meeting and Applicable Laws; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(w)</TD><TD STYLE="text-align: justify">Precision shall provide notice to
                                         Trinidad of the Precision Meeting and allow Trinidad's representatives and legal counsel
                                         to attend such Precision Meeting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.2</TD><TD STYLE="text-align: justify">Additional Covenants of Precision</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Precision further covenants and agrees that:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">for a period of six years after the
                                         Effective Time, Precision shall, or shall cause Trinidad or any successor of Trinidad
                                         (including any successor resulting from the winding up or liquidation or dissolution
                                         of Trinidad) to, maintain Trinidad's current directors' and officers' insurance policy
                                         or an equivalent policy on a &quot;trailing&quot; or &quot;run off&quot; basis, subject
                                         in either case to terms and conditions no less advantageous to the directors and officers
                                         of Trinidad than those contained in the directors' and officers' policy in effect as
                                         of the date hereof (&quot;<B>Equivalent Insurance</B>&quot;), for all present and former
                                         directors and officers of Trinidad, covering claims made prior to or within six years
                                         after the Effective Time; provided that the cost of such policies does not exceed 250<B>%
                                         </B>of Trinidad's annual premium for its current policy;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">if the Arrangement is completed, Precision,
                                         Trinidad and any successor to Trinidad shall not take any action to terminate or materially
                                         adversely affect and will fulfill its obligations pursuant to, any indemnity agreements
                                         disclosed in writing to Precision or right to indemnity available in favour of past or
                                         present directors and officers of Trinidad and its subsidiaries pursuant to the provisions
                                         of the articles, by-laws or similar constating documents of Trinidad, applicable corporate
                                         legislation or written indemnity agreements disclosed in writing to Precision between
                                         Trinidad and its past and present directors and officers or any indemnity agreements
                                         in favour of current directors and officers of Trinidad that are in place as at the date
                                         hereof, and which have been disclosed in writing to Precision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">if the Arrangement is completed, Precision
                                         shall continue to review, in a <I>bona fide </I>manner, the TechSub Technology and the
                                         advancement and development of the TechSub Technology in the integrated business; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">to the extent that any indebtedness
                                         of Trinidad and its subsidiaries remains outstanding under the Trinidad Senior Notes
                                         following the Effective Time, it shall comply with, or cause Trinidad or its subsidiaries
                                         (or any successors thereto) to comply with, as applicable, the terms and provisions of
                                         the Trinidad Senior Notes and that it shall ensure that Trinidad will have the necessary
                                         financing available so that Trinidad and its subsidiaries will be able to comply with
                                         any &quot;change of control&quot; provisions contained in the Trinidad Senior Notes.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.3</TD><TD STYLE="text-align: justify">Covenants of Trinidad</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Trinidad covenants and agrees that, from the
date of this Agreement until the earlier of the Effective Date or termination of this Agreement, except with the prior written
consent of Precision (not to be unreasonably withheld, delayed or conditioned), and except as otherwise expressly permitted or
specifically contemplated by this Agreement (including the Plan of Arrangement) or required by Applicable Laws:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Trinidad will use its reasonable commercial
                                         efforts to satisfy or cause the satisfaction of the conditions set forth in Sections&nbsp;5.1
                                         and 5.2 as soon as practicable, to the extent the satisfaction of the same is within
                                         the control of Trinidad;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">Trinidad will forthwith carry out
                                         the terms of the Interim Order and the Final Order;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">Trinidad will make all necessary filings
                                         and applications under Applicable Laws, including Applicable Canadian Securities Laws
                                         and U.S. Securities Laws, if applicable, required to be made on the part of Trinidad
                                         in connection with the transactions contemplated herein and shall take all commercially
                                         reasonable action necessary to be in compliance with such Applicable Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Trinidad will continue to maintain
                                         its status as a &quot;reporting issuer&quot; (or similarly designated entity) not in
                                         default under the Applicable Canadian Securities Laws where it is a reporting issuer
                                         at the date hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Trinidad will maintain the listing
                                         of the Trinidad Shares on the TSX;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Trinidad and its board of directors
                                         shall take all action necessary, immediately prior to the Effective Time, to waive the
                                         application of the Shareholder Rights Plan to the Arrangement and to ensure that the
                                         Shareholder Rights Plan does not interfere with or impede the success of the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">Trinidad will not take any action,
                                         refrain from taking any action, or permit any action to be taken or not taken, inconsistent
                                         with this Agreement, which might directly or indirectly interfere with or affect the
                                         consummation of the Arrangement and the transactions contemplated hereby;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify">Trinidad will provide Precision with
                                         all information and documentation reasonably requested in connection with obtaining the
                                         Regulatory Approvals other than with respect to filings submitted pursuant to the Competition
                                         Act and HSR Act, which will be governed by Section&nbsp;3.5;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify">except as disclosed in writing by
                                         Trinidad to Precision, the business of Trinidad shall be conducted only in, and Trinidad
                                         shall not take any action except in, the usual and ordinary course of business consistent
                                         with past practices and it shall use all reasonable commercial efforts to maintain and
                                         preserve its business, assets and business relationships and shall, subject to Section
                                         3.5, keep Precision apprised of all material developments in the ongoing business and
                                         affairs of Trinidad and its subsidiaries;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify">Trinidad shall not, directly or indirectly
                                         do, or permit to occur, any of the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
amend its constating documents or amend in any material respects the constating documents of any of its subsidiaries;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
except in relation to any internal transactions solely involving Trinidad and its wholly-owned subsidiaries or solely among such
subsidiaries, or as required pursuant to the terms of any joint venture or partnership agreement applicable to any member of the
Trinidad Group and as disclosed in writing by Trinidad to Precision, declare, set aside or pay any non-cash dividend or make any
other non-cash payment in respect of its outstanding securities; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
issue, grant, sell or pledge or agree to issue, grant, sell or pledge any Trinidad Shares or other securities of Trinidad, including,
without limitation, securities convertible into or exchangeable or exercisable for, or otherwise evidencing a right to acquire,
Trinidad Shares (other than the issuance of Trinidad Shares pursuant to the exercise of Trinidad Options outstanding on the date
hereof in accordance with their terms or pursuant to this Agreement or the Plan of Arrangement);</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
redeem, purchase or otherwise acquire any of the outstanding Trinidad Shares or other securities;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
amend the terms of any of its securities, including the Trinidad Options, without the prior written consent of Precision, other
than to accelerate the vesting of any unvested Trinidad Options or Trinidad Incentive Units in accordance with this Agreement
and the terms of the applicable incentive plans;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
split, combine or reclassify any of the Trinidad Shares;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
adopt a plan of liquidation or resolutions providing for the liquidation, dissolution, merger, consolidation, reorganization or
arrangement or similar action of Trinidad or any of its subsidiaries other than as disclosed by Trinidad to Precision in writing;
</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(viii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
reduce the stated capital of any shares of Trinidad or any of its subsidiaries; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ix)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into or modify any Contract, commitment or arrangement with respect to any of the foregoing;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(k)</TD><TD STYLE="text-align: justify">except as disclosed in writing by
                                         Trinidad to Precision, Trinidad shall not, directly or indirectly, do or permit to occur
                                         any of the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
sell, pledge, lease, exclusively license, transfer, dispose of or encumber any assets other than as disclosed by Trinidad in writing
to Precision;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
expend or commit to expend any capital expenditures in excess of $2,000,000 in the aggregate with the exception of the commitments
contemplated by the capital spending program of Trinidad as disclosed by Trinidad to Precision in writing and provided that in
the case of capital expenditures expended to address emergencies or other urgent matters involving the potential loss or damage
to property or personal safety, Precision's consent shall not be required where it cannot be received in a reasonably expedient
manner;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
with the exception of the commitments contemplated by the capital spending program of Trinidad as disclosed by Trinidad in writing
to Precision, expend or commit to expend any amounts more than $1,000,000 in the aggregate with respect to any operating expenses
and provided that, any such expenses are in the ordinary course of Trinidad's business consistent with past practice;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
reorganize, amalgamate, merge or otherwise combine Trinidad with any other Person;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
acquire (by merger, amalgamation, consolidation or acquisition of shares or assets) any corporation, partnership or other business
organization or division thereof, or make any investment therein either by purchase of shares or securities, contributions of
capital or property transfer;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
acquire any assets with the exception of the commitments contemplated by the capital spending plan of Trinidad as disclosed by
Trinidad in writing to Precision;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
incur, extend, renew or replace any indebtedness for borrowed money or any other material liability or obligation, or issue any
debt securities or assume, guarantee, endorse or otherwise become responsible for, the obligations of any other individual or
Person, or make any loans or advances, other than:</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">amounts
                                         contemplated in relation to the payment of Trinidad Transaction Costs; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">amounts
                                         contemplated by the capital spending plan of Trinidad, including capital spending amounts
                                         related to Trinidad's capital spending plan of which payment would be by joint venture
                                         contributions from Trinidad to Trinidad Drilling International Luxembourg S.&agrave;.r.l.,
                                         as disclosed by Trinidad in writing to Precision; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">amounts
                                         otherwise permitted under this Section&nbsp;3.3(k); and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">related
                                         drawdowns on the Trinidad Bank Facility with respect to the amounts described in (A),
                                         (B) and (C) above;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(viii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
pay, settle, discharge or satisfy any material claims, liabilities, litigation, lawsuits, arbitrations, proceedings or obligations
other than as reflected or reserved against in the Trinidad Financial Statements;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ix)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
authorize, recommend or propose any release or relinquishment of any right under any Trinidad Material Contract;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(x)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
waive, release, grant or transfer any material rights of value or modify or change, in any material respect, any existing material
license, material lease, material Contract or other material document;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into an agreement or arrangements for the deployment of the Trinidad Owned IP or the TechSub Technology on non-arm's length
terms or at rates that are lower than current market rates as disclosed by Trinidad to Precision in writing;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
abandon or fail to diligently pursue any application for any Governmental Authorizations;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xiii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into or terminate any hedges, swaps or other financial instruments or like transactions;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xiv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into any Contract with regards to any lease for real property other than as required to support Trinidad's operations in
Kuwait as disclosed in writing by Trinidad to Precision;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into or terminate any Contracts for the construction or sale of a drilling rig or any interest in a drilling rig;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xvi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into any:</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">material
                                         transportation or operating Contracts that would result in obligations of Trinidad in
                                         excess of $650,000 in the aggregate excluding all such obligations that are reimbursable
                                         as lump sum payments under such applicable Contracts; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">other
                                         Contract for contract drilling services that has a term of greater than 12 months at
                                         day rates which are below the average day rate for the applicable rig type in the applicable
                                         geographic market.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xvii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into any non-arm's length Contracts or transactions, including with any affiliates, officer, director, employee or consultant
of Trinidad or its affiliates, except as expressly contemplated in this Agreement;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xviii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
enter into any new strategic alliances, partnerships, joint ventures or research studies;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xix)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
authorize or propose any of the foregoing, or enter into or modify any Contract, agreement, commitment or arrangement to do any
of the foregoing; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(xx)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
make any changes to its existing accounting policies other than as required by Applicable Law or IFRS; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(l)</TD><TD STYLE="text-align: justify">Trinidad shall not:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
hire or retain, or terminate the services of any executive officer or director except as disclosed by Trinidad in writing to Precision;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
grant any employee, consultant, officer or director an increase in compensation in any form except as otherwise disclosed by Trinidad
in writing to Precision; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
grant any general salary increase, except as otherwise disclosed by Trinidad in writing to Precision; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
other than as disclosed by Trinidad in writing to Precision, take any action with respect to the amendment or grant of any &quot;change
of control&quot;, severance, termination pay or retention policies or arrangements for any directors, officers or employees or
contractors; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
pay any severance amount or other payment to a Person who is an officer as a consequence of the Arrangement pursuant to an employment
or change of control agreement unless such applicable officer has provided a resignation and customary release, in a form and
substance satisfactory to Precision, acting reasonably; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
amend any incentive plan or the terms of any outstanding rights thereunder; nor </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
advance any loan to any employee, consultant, officer, director or any other party;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(m)</TD><TD STYLE="text-align: justify">other than as disclosed in writing
                                         by Trinidad to Precision, or except so as to permit the acceleration of the vesting and
                                         payment pursuant to the Trinidad Incentive Plans and this Agreement, Trinidad shall not
                                         adopt or amend or make any contribution to any bonus, employee benefit plan, profit sharing,
                                         option, common share, deferred compensation, insurance, incentive compensation, other
                                         compensation or other similar plan (or amend any outstanding rights thereunder), agreement,
                                         common share incentive or purchase plan, fund or arrangement for the benefit of directors,
                                         officers, employees or consultants, except as is necessary to comply with Applicable
                                         Laws or with respect to existing provisions of any such plans, programs, arrangements
                                         or agreements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(n)</TD><TD STYLE="text-align: justify">Trinidad shall withhold from any payment
                                         made to any of its present or former employees, officers or directors in respect of any
                                         payments contemplated by this Agreement including, without limitation, in connection
                                         with the exercise, cancellation or surrender of Trinidad Options and Trinidad Incentive
                                         Units and payment of the Trinidad Change of Control Payments, all amounts required by
                                         law or administrative practice to be withheld by it on account of Taxes and other source
                                         deductions and Trinidad shall remit such withheld amount to the proper Governmental Authority
                                         within the time required by such Applicable Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(o)</TD><TD STYLE="text-align: justify">Trinidad shall use its reasonable
                                         commercial efforts to cause its current insurance (or re-insurance) policies, including
                                         directors' and officers' insurance, not to be cancelled or terminated or any of the coverage
                                         thereunder to lapse, unless simultaneously with such termination, cancellation or lapse,
                                         replacement policies underwritten by insurance or re-insurance companies of nationally
                                         recognized standing satisfactory to Precision, acting reasonably, providing coverage
                                         equal to or greater than the coverage under the cancelled, terminated or lapsed policies
                                         for substantially similar premiums are in full force and effect, and Trinidad will pay
                                         all premiums in respect of such insurance policies that become due after the date hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(p)</TD><TD STYLE="text-align: justify">Trinidad will promptly provide to
                                         Precision, prior to filing or issuance of the same, any proposed news release (or material
                                         change report, subject to Trinidad's obligations under Applicable Laws to make continuous
                                         and timely disclosure of material information, and Precision agrees to keep such information
                                         confidential until it is filed as part of the Trinidad Public Record);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(q)</TD><TD STYLE="text-align: justify">Trinidad shall not take any action,
                                         refrain from taking any action, or permit any action to be taken by it or any of its
                                         subsidiaries that would render, or may reasonably be expected to render, any representation
                                         or warranty made by it in this Agreement untrue in any material respect at any time prior
                                         to the Effective Date or termination of this Agreement, whichever first occurs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(r)</TD><TD STYLE="text-align: justify">Trinidad shall promptly notify Precision
                                         in writing of any Material Adverse Change with respect to Trinidad or of any change in
                                         any representation or warranty provided by Trinidad in this Agreement which change is
                                         or may be of such a nature as to render any representation or warranty misleading or
                                         untrue in any material respect and Trinidad shall in good faith discuss with Precision
                                         any such change in circumstances (actual, anticipated, contemplated, or to the knowledge
                                         of Trinidad, threatened) which is of such a nature that there may be a reasonable question
                                         as to whether notice need be given to Precision pursuant to this provision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(s)</TD><TD STYLE="text-align: justify">Trinidad shall promptly advise Precision
                                         in writing of:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any material breach by Trinidad of any covenant, obligation or agreement contained in this Agreement, or of any investigation,
litigation, claim, proceeding or formal complaint related to any of the representations in paragraphs (f), (qq) or (rr) of Schedule
&quot;D&quot;;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to the extent permitted by Applicable Law, any notice or other communication from any Governmental Authority in connection with
this Agreement, the Existing Bid and any changes, amendments, modifications or variations to the foregoing bid after the date
hereof or Trinidad's operations (and Trinidad shall contemporaneously provide a copy of any such written notice or communication
to Precision); </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any notice or other communication from any Person alleging that the consent (or waiver, permit, exemption, order, approval, agreement,
amendment or confirmation) of such Person is required in connection with this Agreement or the Arrangement (and Trinidad shall
contemporaneously provide a copy of any such written notice or communication to Precision); </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"> (iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT STYLE="font-size: 10pt">any changes to the amounts (in excess of $100,000 on an individual or aggregate basis) that are included in the definition of Trinidad Transaction Costs, and upon request by Precision, Trinidad shall promptly provide an updated <I>bona fide </I>good faith estimate of the Trinidad Transaction Costs incurred, accrued or billed up to the date of the updated estimate and to be incurred after the date thereof (without duplication) in connection with this Agreement and the Arrangement (excluding the Excluded Transaction Costs); and</FONT></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any Excluded Transaction Costs incurred on an individual or aggregate basis in excess of $100,000 and, upon request by Precision,
Trinidad shall promptly provide an updated bona fide good faith estimate of the Excluded Transaction Costs incurred, accrued or
billed up to the date of the updated estimate; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(t)</TD><TD STYLE="text-align: justify">Trinidad shall ensure that it has
                                         available funds (which may include funds available to it under its current credit facility)
                                         to permit the payment of the Precision Termination Fee having regard to its other liabilities
                                         and obligations, and shall take all such actions as may be necessary to ensure that it
                                         maintains such availability to ensure that it is able to pay such amount when required;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(u)</TD><TD STYLE="text-align: justify">other than approvals that may be required
                                         under the Trinidad Bank Facility and Trinidad Senior Notes, Trinidad shall use its reasonable
                                         commercial efforts to obtain and maintain all material third party approvals (excluding
                                         Regulatory Approvals) required in connection with the transactions contemplated by this
                                         Agreement and provide the same to Precision on or prior to the Effective Date, including
                                         all material third party approvals confirmations that are:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
required to be obtained under the Trinidad Material Contracts in connection with the Arrangement: or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
required in order to maintain the Trinidad Material Contracts in full force and effect following completion of the Arrangement,</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">in each case, on terms that are satisfactory
to Precision (acting reasonably), and without paying, and without committing itself or Precision to pay, any consideration or
incur any liability or obligation without the prior written consent of Precision; provided that, for clarity, the foregoing shall
not oblige Trinidad to pay any such consideration or incur any such liability or obligation;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(v)</TD><TD STYLE="text-align: justify">Trinidad shall cooperate with Precision
                                         in structuring, planning and implementing any action to be taken with respect the Trinidad
                                         Bank Facility and/or the Trinidad Senior Notes as Precision may reasonably request (including,
                                         without limitation:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the delivery to Precision of an executed payout letter (the <B>&quot;Trinidad Bank Facility Payout Letter</B>&quot;) from Royal
Bank of Canada, as agent under the Trinidad Bank Facility, setting forth the aggregate amount outstanding under the Trinidad Bank
Facility as at the Effective Date, which would be required to repay or cash collateralize in full all obligations, liabilities
and indebtedness of Trinidad under the Trinidad Bank Facility and which payout letter shall contain a release and discharge of
all liens and security interests granted by Trinidad in connection with the Trinidad Bank Facility (other than those in respect
of cash collateral required in respect of letters of credit, bankers' acceptances and other obligations, liabilities and indebtedness
that cannot be repaid early by their terms) and a termination of the Trinidad Bank Facility and all documents related thereto
(other than those related to the foregoing cash collateral arrangements and indemnities which, by their terms, survive termination),
which releases, discharges and termination shall be conditional solely upon receipt by Royal Bank of Canada on behalf of the lenders
under such Trinidad Bank Facility of the amounts referenced in the Trinidad Bank Facility Payout Letter;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the issuance of prepayment notices by Trinidad prior to (but conditional upon) Effective Date;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
making formal requests from Trinidad for waivers or consents related to the Arrangement sought by Precision of any applicable
provisions of the applicable loan or note documentation which would apply after the Effective Date; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
making arrangements for the transfer or assignment of outstanding letters of credit under the Trinidad Bank Facility at (but conditional
upon) the Effective Date; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">in each case, as may be reasonably
determined by Precision) and shall cooperate in good faith with Precision and its advisors to determine the nature of such actions;
provided, however, that no such actions shall require Trinidad to make effective any amendments, incur any costs that are not
paid for or reimbursed by Precision or make any payments in respect of the Trinidad Bank Facility or the Trinidad Senior Notes
if the Arrangement is not consummated;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(w)</TD><TD STYLE="text-align: justify">Trinidad shall use reasonable commercial
                                         efforts to provide Precision with such reasonable assistance with respect to the directorships
                                         of Trinidad's non-Canadian and non-U.S. subsidiaries as Precision may reasonably require
                                         to provide an orderly transition of directorships immediately upon but not prior to the
                                         Effective Time and provided further that any current director of Trinidad's non-Canadian
                                         and non-U.S. subsidiaries who maintains such directorship at the Effective Time will
                                         continue to have a right to indemnity on the terms currently enjoyed as of the date hereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(x)</TD><TD STYLE="text-align: justify">subject to Precision's compliance
                                         with Section&nbsp;2.5(a), Trinidad shall ensure that the Trinidad Information included
                                         in the Information Circular complies with Applicable Laws and, without limiting the generality
                                         of the foregoing, that the Trinidad Information will not contain a Misrepresentation
                                         and the Information Circular provides Trinidad Securityholders with information in sufficient
                                         detail to permit them to form a reasoned judgment concerning the matters before them,
                                         and, in that regard, the Information Circular will set out Precision Information in the
                                         form approved by Precision and the Trinidad Information in the form approved by Trinidad
                                         and shall include, without limitation:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
based upon, among other things, the opinion of TD Securities Inc., the unanimous determination of the Trinidad Board that the
Arrangement is in the best interests of Trinidad and the Trinidad Shareholders, and the unanimous recommendation that Trinidad
Securityholders vote in favour of the Arrangement; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the fairness opinion of TD Securities Inc. that the consideration in respect of the Arrangement is fair, from a financial point
of view, to Trinidad Shareholders;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(y)</TD><TD STYLE="text-align: justify">Trinidad shall provide notice to Precision
                                         of the Trinidad Meeting and allow Precision's representatives and legal counsel to attend
                                         such Trinidad Meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(z)</TD><TD STYLE="text-align: justify">Trinidad shall indemnify and save
                                         harmless Precision and its directors, officers, employees, advisors and agents from and
                                         against any and all liabilities, claims, demands, losses, costs, damages and expenses
                                         (excluding any loss of profits or consequential damages) to which Precision, its affiliates
                                         or subsidiaries or their respective directors, officers, employees, advisors or agents
                                         may be subject or which Precision, its affiliates or subsidiaries or their respective
                                         directors, officers, employees, advisors or agents may suffer or incur, whether under
                                         the provisions of any statute or otherwise, in any way caused by, or arising, directly
                                         or indirectly, from or in consequence of:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any Misrepresentation or alleged Misrepresentation contained solely in the Trinidad Information included in the Information Circular
or in any material filed by Trinidad in compliance or intended compliance with any Applicable Laws; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any order made or any inquiry, investigation or proceeding by any securities commission or other competent authority based upon
any untrue statement or omission or alleged untrue statement or omission of a Material Fact or any Misrepresentation or any alleged
Misrepresentation in the Trinidad Information included in the Information Circular or in any material filed by or on behalf of
Trinidad in compliance or intended compliance with Applicable Canadian Securities Laws; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">except that Trinidad shall not be liable in any such
case to the extent that any such liabilities, claims, demands, losses, costs, damages and expenses arise out of or are based upon
any Misrepresentation or alleged Misrepresentation based solely on Precision Information included in the Information Circular;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aa)</TD><TD STYLE="text-align: justify">subject to Sections&nbsp;3.6(e) and
                                         10.4, except for proxies, other voting instruction forms and other non-substantive communications
                                         with securityholders, Trinidad will furnish promptly to Precision or Precision's counsel,
                                         a copy of each notice, report, schedule or other document delivered, filed or received
                                         by Trinidad in connection with: (i) the Arrangement; (ii) the Trinidad Meeting; (iii)
                                         any filings under Applicable Laws in connection with the Agreement; and (iv) any dealings
                                         with Governmental Authorities in connection with the transactions contemplated hereby;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bb)</TD><TD STYLE="text-align: justify">management of Trinidad shall:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">solicit
                                         proxies:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in
                                         favour of the approval of the Arrangement Resolution, and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">against
                                         any resolution submitted by any Person that is inconsistent with, or which seeks (without
                                         Precision's consent) to hinder or delay the Arrangement Resolution and the completion
                                         of the transactions contemplated by this Agreement, </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 1.25in">including, in a commercially reasonable
manne<B>r</B>, using the services of soliciting dealers or proxy solicitation services;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(cc)</TD><TD STYLE="text-align: justify">Trinidad will provide Precision with
                                         copies of or access to information regarding the Trinidad Meeting generated by any soliciting
                                         dealer or other Person engaged to solicit proxies, as may be reasonably requested by
                                         Precision from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(dd)</TD><TD STYLE="text-align: justify">Trinidad will provide all necessary
                                         support to assist Precision in its efforts to obtain conditional approval for the listing
                                         of the Precision Shares issuable under the Arrangement on the Exchanges;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ee)</TD><TD STYLE="text-align: justify">Trinidad will secure all consents
                                         of third parties that are required to permit the inclusion of any reference to their
                                         names in, or in relation to, any Trinidad Information included in the Information Circular,
                                         including by reason of their name being included in a document incorporated by reference
                                         in the Information Circular, or otherwise, and will provide copies of such consents to
                                         Precision as soon as reasonably practicable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ff)</TD><TD STYLE="text-align: justify">Trinidad shall advise Precision,
                                         as Precision may request, and on a daily basis on each of the last ten (10) Business
                                         Days prior to the proxy cut-off date for the Trinidad Meeting, as to the aggregate tally
                                         of the proxies received by Trinidad in respect of the Arrangement Resolution and any
                                         other matters to be considered at the Trinidad Meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(gg)</TD><TD STYLE="text-align: justify">Trinidad shall convene and conduct
                                         the Trinidad Meeting in accordance with the Interim Order and as otherwise required by
                                         the by-laws of Trinidad, any instrument governing the Trinidad Meeting and Applicable
                                         Laws (as any of the foregoing may be amended by the Interim Order);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hh)</TD><TD STYLE="text-align: justify">Trinidad shall promptly advise Precision
                                         of the number of Trinidad Shares for which Trinidad receives notices of dissent or written
                                         objections to the Arrangement and provide Precision with copies of such notices and written
                                         objections, and subject to Applicable Laws, shall provide Precision with an opportunity
                                         to review and comment upon any written communications proposed to be sent by or on behalf
                                         of Trinidad to any Trinidad Shareholder exercising or purporting to exercise Dissent
                                         Rights in relation to the Arrangement Resolution and reasonable consideration shall be
                                         given to any comments made by Precision and its counsel prior to sending any such written
                                         communications. Trinidad shall not settle any claims with respect to Dissent Rights without
                                         the prior written consent of Precision (such consent not to be unreasonably withheld);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ii)</TD><TD STYLE="text-align: justify">Trinidad shall continue to defer
                                         the &quot;separation time&quot; (as such term is defined in the Trinidad Shareholder
                                         Rights Plan) of the Trinidad SRP Rights until the Trinidad Shareholder Rights Plan is
                                         waived or cease traded;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jj)</TD><TD STYLE="text-align: justify">Trinidad shall on or prior to the
                                         Effective Date, to the extent required, waive, suspend the operation of or otherwise
                                         render the Trinidad Shareholder Rights Plan inoperative or ineffective as regards to
                                         the Plan of Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kk)</TD><TD STYLE="text-align: justify">Trinidad shall:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
duly and on a timely basis file all Tax Returns required to be filed by it on or after the date hereof and all such Tax Returns
will be true, complete and correct in all material respects;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
timely pay in full all Taxes shown on such Tax Returns or on subsequent assessments with respect thereto;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
not make or rescind any material express or deemed election, information schedule, return or designation relating to Taxes, or
file any amended Tax Returns;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
not make a request for a Tax ruling or enter into a settlement agreement with any Governmental Authority with respect to Taxes,
except for any settlement that is not material to Trinidad;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
not settle or compromise any claim, assessment, reassessment, liability, action, suit, litigation, proceeding, arbitration, investigation,
audit or controversy relating to a material amount of Taxes;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
except as disclosed by Trinidad in writing to Precision not surrender any right to claim Tax abatement, reduction, deduction,
exemption, credit or refund;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
not make any changes to methods, principles, policies or practices of reporting income, deductions or accounting for Tax purposes
(with respect to those employed prior to the date of this Agreement), except as required by IFRS or under Applicable Laws;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(viii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
not consent to the extension or waiver of the limitation period applicable to any material Tax matter; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ix)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
properly reserve (and reflect such reserves in its books and records and financial statements) in accordance with IFRS, for all
Taxes accruing in respect of Trinidad which are not due or payable prior to the Effective Date; </FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ll)</TD><TD STYLE="text-align: justify">Trinidad shall continue to withhold
                                         from each payment to be made to any of its present or former employees (which includes
                                         officers) and directors and to all other Persons including, without limitation, all Persons
                                         who are non-residents of Canada for the purposes of the ITA, all amounts that are required
                                         to be so withheld by any Applicable Laws and Trinidad shall remit such withheld amounts
                                         to the proper Governmental Authority within the times prescribed by such Applicable Laws;
                                         and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mm)</TD><TD STYLE="text-align: justify">Trinidad shall not make any Tax filings
                                         outside the ordinary course of business, including making, amending or rescinding any
                                         Tax Return, election, information schedule or designation, without the consent of Precision,
                                         such consent not to be unreasonably withheld.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.4</TD><TD STYLE="text-align: justify">Mutual Covenants Regarding the Arrangement</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">From the date of this Agreement until the
Effective Date or termination of this Agreement, each of Precision and Trinidad will use its reasonable commercial efforts to:
(i) satisfy (or cause the satisfaction of) the conditions precedent to its obligations hereunder; (ii) not take, or cause to be
taken, any action or cause anything to be done that would cause such conditions or obligations not to be fulfilled in a timely
manner; and (iii) take, or cause to be taken, all other action and to do, or cause to be done, all other things necessary, proper
or advisable under Applicable Laws to complete the Arrangement, including using reasonable commercial efforts:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">to effect all necessary registrations
                                         and filings and submissions of information requested by Governmental Authorities or required
                                         to be effected by it in connection with the Arrangement, and to obtain and maintain all
                                         necessary waivers, consents and approvals from third parties required to be obtained
                                         by it, including from parties to loan agreements, leases and other Contracts, in connection
                                         with the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">to oppose, lift or rescind any injunction
                                         or restraining or other order seeking to stop, or otherwise adversely affecting its ability
                                         to consummate, the Arrangement and to defend, or cause to be defended, any proceedings
                                         to which it is a party or brought against it or its directors or officers challenging
                                         this Agreement or the consummation of the transactions contemplated hereby; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">to cooperate with each other in taking,
                                         or causing to be taken, all actions necessary to delist the Trinidad Shares from the
                                         TSX; provided, however, that such delisting will not be effective until after the Effective
                                         Time.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Each of Precision and Trinidad will use its
reasonable commercial efforts to cooperate with the other in connection with the performance by the other of their obligations
under this Section&nbsp;3.4 and this Agreement including, without limitation, continuing to provide reasonable access to information
and to maintain ongoing communications as between officers of Precision and Trinidad, subject in all cases to the Confidentiality
Agreements.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.5</TD><TD STYLE="text-align: justify">Provision of Information and Integration
                                         of Operations</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Until the Effective Date or termination of this
Agreement, Trinidad shall:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">provide Precision and its Representatives
                                         access, during normal business hours to its premises (including field offices and sites),
                                         assets, books, contracts, records, computer systems, properties, employees and management
                                         personnel, of Trinidad and all of its subsidiaries, including but not limited to the
                                         Trinidad JV Agreement and the Trinidad KOC Agreement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">furnish to Precision all information
                                         concerning its business, properties and personnel as Precision may reasonably request
                                         to permit Precision to be in a position to expeditiously and efficiently integrate the
                                         business and operations of Trinidad with those of Precision immediately but not prior
                                         to the Effective Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">Notwithstanding any requirement in this Section&nbsp;3.5,
Trinidad is not required to provide information hereunder that Trinidad deems, in its sole discretion, to be competitively sensitive
information (provided that Trinidad acknowledges and agrees that Precision's external counsel may have access to such information
on a privileged and confidential basis in connection with obtaining the Regulatory Approvals) or is subject to any confidentiality
and other contractual provisions.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">3.6</TD><TD STYLE="text-align: justify">Mutual Covenants Regarding Regulatory
                                         Approvals</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Each of Trinidad and Precision will
                                         use their reasonable commercial efforts to obtain the Regulatory Approvals as soon as
                                         is practicable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">As soon as practicable and in any
                                         event no later than ten (10) Business Days from the date of this Agreement:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trinidad
                                         and Precision shall each: </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">submit
                                         a premerger notification filing in respect of the Arrangement in accordance with Part
                                         IX of the Competition Act; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">submit
                                         a notification and report form in respect of the Arrangement in accordance with the HSR
                                         Act; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Precision
                                         shall file with the Commissioner a submission in support of a request for an Advance
                                         Ruling Certificate or, in the event that the Commissioner will not issue an Advance Ruling
                                         Certificate, a &quot;no action letter&quot; in respect of the Arrangement. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">Precision shall pay the filing fees
                                         relating to the Required Regulatory Approvals.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Each of Precision and Trinidad will
                                         cooperate with each other, including by way of furnishing such information as may be
                                         reasonably requested by a Party, in connection with the preparation and submission of
                                         all applications, notices, filings, submissions, undertakings, correspondence and communications
                                         of any nature (including responses to requests for information and inquiries from any
                                         Governmental Authority) as may be or become necessary or desirable in connection with
                                         the Regulatory Approvals, provided, however, that Precision shall control and lead all
                                         communications and strategy in connection with the Regulatory Approvals and the final
                                         determination as to any appropriate courses of action shall be made by Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Without limiting the generality of
                                         the foregoing, each Party will:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
promptly inform the other Party of any material communication received by that Party from any Governmental Authority in respect
of obtaining or concluding the Regulatory Approvals;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
use reasonable commercial efforts to respond promptly to any request or notice from any Governmental Authority requiring the Parties,
or any one of them, to supply additional information that is relevant to the review of the transactions contemplated by this Agreement
in respect of obtaining or concluding the Regulatory Approvals;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
subject to Section&nbsp;3.6(f), permit the other Party to review in advance any proposed applications, notices, filings, submissions,
undertakings, correspondence and communications of any nature (including responses to requests for information and inquiries from
any Governmental Authority) in respect of obtaining or concluding the Regulatory Approvals, and will provide the other Party a
reasonable opportunity to comment thereon and agree to give reasonable consideration to those comments when preparing subsequent
drafts and final versions;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
subject to Section&nbsp;3.6(f), promptly provide the other Party with any applications, notices, filings, submissions, undertakings,
correspondence and communications of any nature (including responses to requests for information and inquiries from any Governmental
Authority) that were submitted to a Governmental Authority in respect of obtaining or concluding the Regulatory Approvals;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
not participate in any substantive meeting or discussion (whether in person, by telephone or otherwise) with any Governmental
Authority in respect of obtaining or concluding the Regulatory Approvals unless it consults in advance with the other Party and
the other Party or its external legal counsel is provided with an opportunity to attend and participate in such meetings or discussions;
and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
keep the other Party promptly informed of the status of discussions relating to obtaining or concluding the Regulatory Approvals.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Notwithstanding any requirement in
                                         this Section 3.6 in connection with obtaining the Regulatory Approvals, where a Party
                                         (in this Section&nbsp;3.6 only, a &quot;<B>Disclosing Party</B>&quot;) is required under
                                         this Section&nbsp;3.6 to provide information to another Party (in this Section&nbsp;3.6
                                         only, a &quot;<B>Receiving Party</B>&quot;) that the Disclosing Party deems to be competitively
                                         sensitive information or otherwise reasonably determines in respect thereof that disclosure
                                         should be restricted, the Disclosing Party may restrict the provision of such competitively
                                         sensitive and other information only to external legal counsel of the Receiving Party,
                                         provided that the Disclosing Party also provides the Receiving Party a redacted version
                                         of any such application, notice, filing, submissions, undertakings, correspondence or
                                         communications (including responses to requests for information and inquiries from any
                                         Governmental Authority) which does not contain any such competitively sensitive or other
                                         restricted information.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">Precision shall use its reasonable
                                         best efforts to obtain the Required Regulatory Approvals as soon as is reasonably practicable.
                                         For purposes of the foregoing, &quot;reasonable best efforts&quot; shall include (i)
                                         proposing, negotiating, agreeing to or effecting, by undertakings, commitments, consent
                                         agreement, hold separate agreement or otherwise: (A) the sale, divestiture, licensing
                                         or disposition of all or any part of the businesses or assets of Precision, Trinidad
                                         or any of their respective affiliates; (B) the termination of any existing relationships,
                                         contractual rights, relationships and obligations, or entry into or amendment of any
                                         arrangements; (C) the taking of any action that, after consummation of the Arrangement,
                                         would limit the freedom of action of, or impose any other requirement on, Precision with
                                         respect to the operation of one or more of the businesses, or the assets, of Precision,
                                         Trinidad or any of their respective subsidiaries or its affiliates; (D) any other remedial
                                         action in order to obtain the Required Regulatory Approvals as soon as possible; or (ii)
                                         taking any steps or action to avoid, oppose, or seek to have lifted or rescinded, any
                                         application for, or any resulting injunction or restraining or other order seeking to
                                         stop, or that otherwise adversely affects its ability to consummate, the Arrangement,
                                         provided that none of Precision (or its affiliates) shall be required to undertake any
                                         of the actions listed under items (A) through (D) of this paragraph to obtain the Required
                                         Regulatory Approvals if such actions are reasonably expected to have a material adverse
                                         effect on the Canadian business of either Precision or Trinidad, taken separately.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
4<BR>
<FONT STYLE="font-size: 10pt">REPRESENTATIONS AND WARRANTIES</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">4.1</TD><TD STYLE="text-align: justify">Representations and Warranties of
                                         Precision</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Precision hereby makes to Trinidad the representations
and warranties set forth in Schedule &quot;C&quot; hereto, and acknowledges that Trinidad is relying on such representations and
warranties in connection with the entering into of this Agreement and the carrying out of the Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">4.2</TD><TD STYLE="text-align: justify">Representations and Warranties of
                                         Trinidad</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Trinidad hereby makes to Precision the representations
and warranties set forth in Schedule &quot;D&quot; hereto, and acknowledges that Precision is relying upon such representations
and warranties in connection with the entering into of this Agreement and the carrying out of the Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">4.3</TD><TD STYLE="text-align: justify">Privacy Issues</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">For the purposes of this Section&nbsp;4.3,
                                         the following definitions shall apply:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;<B>applicable law</B>&quot; means, in relation to any Person, transaction or event, all applicable provisions of Applicable
Laws by which such Person is bound or having application to the transaction or event in question, including applicable privacy
laws;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;<B>applicable privacy laws</B>&quot; means any and all applicable laws relating to privacy and the collection, use and disclosure
of Personal Information in all applicable jurisdictions, including but not limited to the <I>Personal Information Protection and
Electronic Documents Act</I> (Canada) and/or any comparable provincial law including the <I>Personal Information Protection Act
</I>(Alberta);</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;<B>authorized authority</B>&quot; means, in relation to any Person, transaction or event, any (A)&nbsp;federal, provincial,
municipal or local governmental body (whether administrative, legislative, executive or otherwise), both domestic and foreign,
(B)&nbsp;agency, authority, commission, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government, (C)&nbsp;court,
arbitrator, commission or body exercising judicial, quasi-judicial, administrative or similar functions, and (D)&nbsp;other body
or entity created under the authority of or otherwise subject to the jurisdiction of any of the foregoing, including any stock
or other securities exchange, in each case having jurisdiction over such Person, transaction or event; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&quot;<B>Personal Information</B>&quot; means information (other than business contact information when used or disclosed for
the purpose of contacting such individual in that individual's capacity as an employee or an official of an organization and for
no other purpose) about an identifiable individual disclosed or transferred in accordance with this Agreement and/or as a condition
of the Arrangement.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">The Parties hereto acknowledge that
                                         they are responsible for compliance at all times with applicable privacy laws which govern
                                         the collection, use or disclosure of Personal Information disclosed to either Party pursuant
                                         to or in connection with this Agreement (the &quot;<B>Disclosed Personal Information</B>&quot;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">Prior to the completion of the Arrangement,
                                         neither Party shall use or disclose the Disclosed Personal Information for any purposes
                                         other than those related to the performance of this Agreement and the completion of the
                                         Arrangement. After the completion of the transactions contemplated herein, a Party may
                                         only collect, use and disclose the Disclosed Personal Information for the purposes for
                                         which the Disclosed Personal Information was initially collected from or in respect of
                                         the individual to which such Disclosed Personal Information relates or for the completion
                                         of the transactions contemplated herein, unless (i) either Party shall have first notified
                                         such individual of such additional purpose, and where required by Applicable Laws, obtained
                                         the consent of such individual to such additional purpose, or (ii) such use or disclosure
                                         is permitted or authorized by Applicable Laws, without notice to, or consent from, such
                                         individual.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Each Party acknowledges and confirms
                                         that the disclosure of the Disclosed Personal Information is necessary for the purposes
                                         of determining if the Parties shall proceed with the Arrangement, and that the Disclosed
                                         Personal Information relates solely to the carrying on of the business or the completion
                                         of the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Each Party acknowledges and confirms
                                         that it has taken and shall continue to take reasonable steps to, in accordance with
                                         Applicable Law, prevent accidental loss or corruption of the Disclosed Personal Information,
                                         unauthorized input or access to the Disclosed Personal Information, or unauthorized or
                                         unlawful collection, storage, disclosure, recording, copying, alteration, removal, deletion,
                                         use or other processing of such Disclosed Personal Information.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Subject to the following provisions,
                                         each Party shall at all times keep strictly confidential all Disclosed Personal Information
                                         provided to it, and shall instruct those employees or advisors responsible for processing
                                         such Disclosed Personal Information to protect the confidentiality of such information
                                         in a manner consistent with the Parties' obligations hereunder. Prior to the completion
                                         of the Arrangement, each Party shall take reasonable steps to ensure that access to the
                                         Disclosed Personal Information shall be restricted to those employees or advisors of
                                         the respective Party who have a <I>bona fide</I> need to access to such information in
                                         order to complete the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">Where authorized by Applicable Law,
                                         each Party shall promptly notify the other Party to this Agreement of all inquiries,
                                         complaints, requests for access, variations or withdrawals of consent and claims of which
                                         the Party is made aware in connection with the Disclosed Personal Information. To the
                                         extent permitted by Applicable Law, the Parties shall fully co-operate with one another,
                                         with the Persons to whom the Personal Information relates, and any authorized authority
                                         charged with enforcement of applicable privacy laws, in responding to such inquiries,
                                         complaints, requests for access, variations or withdrawals of consent and claims.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify">Upon the expiry or termination of
                                         this Agreement, or otherwise upon the reasonable request of the Party with original custody
                                         and control of the Disclosed Personal Information, the other Party shall forthwith cease
                                         all use of the Disclosed Personal Information acquired by it in connection with this
                                         Agreement and will return to the Party with original custody and control of the Disclosed
                                         Personal Information, or at such Party's request, destroy in a secure manner, the Disclosed
                                         Personal Information (and any copies thereof) in its possession.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
5<BR>
<FONT STYLE="font-size: 10pt">CONDITIONS PRECEDENT</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">5.1</TD><TD STYLE="text-align: justify">Mutual Conditions Precedent</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The respective obligations of the Parties to consummate the transactions
contemplated hereby, and in particular the Arrangement, are subject to the satisfaction, on or before the Effective Date or such
other time specified, of the following conditions, any of which may be waived, in whole or in part, by any Party (with respect
to such Party) in its sole discretion at any time and without prejudice to any other rights that such Party may have:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify"><U>Interim Order</U>. The Interim
                                         Order shall have been obtained in form and substance satisfactory to each of Precision
                                         and Trinidad, acting reasonably, on terms consistent with the Arrangement and such order
                                         shall not have been set aside or materially modified in a manner unacceptable to Precision
                                         and Trinidad, each acting reasonably, on appeal or otherwise.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify"><U>Arrangement Resolution</U>. The
                                         Arrangement Resolution shall have been passed by the Trinidad Securityholders in accordance
                                         with the Interim Order by the Outside Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify"><U>Precision Shareholder Approval</U>.
                                         The Precision Transaction Resolution shall have been passed by a simple majority of the
                                         Precision Shareholders voting in person or by proxy at the Precision Meeting by the Outside
                                         Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify"><U>Final Order</U>. The Final Order
                                         shall have been granted by the Outside Date in form and substance satisfactory to Precision
                                         and Trinidad, acting reasonably, on terms consistent with the Arrangement and such order
                                         shall not have been set aside or materially modified in a manner unacceptable to Precision
                                         and Trinidad, acting reasonably, on appeal or otherwise.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify"><U>Articles of Arrangement</U>. The
                                         Articles of Arrangement to be filed by the Outside Date with the Registrar in accordance
                                         with the Arrangement shall be in form and substance satisfactory to each of Precision
                                         and Trinidad, acting reasonably.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify"><U>Required Regulatory Approvals</U>.
                                         Each of the Required Regulatory Approvals has been made, given, obtained or occurred,
                                         as the case may be, and any such approval shall be in full force and effect and any such
                                         occurrence shall not have been invalidated in any manner;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify"><U>Regulatory Approvals.</U> All Regulatory
                                         Approvals (other than the Required Regulatory Approvals) required to be obtained or that
                                         the Parties mutually agree in writing to obtain in respect of the completion of the Arrangement,
                                         including conditional listing approval for the listing on the Exchanges of the Precision
                                         Shares including those to be issued pursuant to the Arrangement, and the expiry of applicable
                                         waiting periods necessary to complete the Arrangement, shall have occurred or been obtained
                                         on terms and conditions acceptable to the Parties, each acting reasonably, and all applicable
                                         domestic and foreign statutory and regulatory waiting periods shall have expired or have
                                         been terminated and no unresolved material objection or opposition shall have been filed,
                                         initiated or made, except where the failure or failures to obtain such Regulatory Approvals,
                                         or for the applicable waiting periods to have expired or terminated, would not be reasonably
                                         expected to have a Material Adverse Effect on either of Precision (before or after the
                                         Arrangement) or Trinidad;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify"><U>Outside Date</U>. The Effective
                                         Date shall be on or before the Outside Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify"><U>No Actions</U>. There shall be
                                         no action taken under any existing Applicable Law, nor any statute, rule, regulation
                                         or order which is enacted, enforced, promulgated or issued by any Governmental Authority,
                                         that:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
makes illegal or otherwise directly or indirectly restrains, enjoins or prohibits the Arrangement; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
results in a judgment or assessment of material damages directly or indirectly relating to the Arrangement.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">5.2</TD><TD STYLE="text-align: justify">Additional Conditions to Obligations
                                         of Precision</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The obligation of Precision to consummate
the transactions contemplated hereby, and in particular the Arrangement, is subject to the following conditions:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify"><U>Representations and Warranties</U>.
                                         The representations and warranties of Trinidad set forth in this Agreement shall be true
                                         and correct as of the Effective Date as if made on and as of such date (except to the
                                         extent such representations and warranties speak as of an earlier date or except as affected
                                         by transactions contemplated or permitted by this Agreement), except where the failure
                                         of such representations to be true and correct, individually or in the aggregate, would
                                         not result or would not reasonably be expected to result in a Material Adverse Change
                                         in respect of Trinidad and its subsidiaries, taken as a whole (and for this purpose,
                                         any reference to &quot;material&quot; or &quot;Material Adverse Effect&quot; or other
                                         concepts of materiality in such representations and warranties shall be ignored), except
                                         that the representations and warranties in paragraphs (a), (b), (c), (d), (i) and (ii)
                                         of Schedule D shall be, as of the Effective Date as if made on such date, true and correct:
                                         (A) to the extent qualified by &quot;Material Adverse Effect&quot;, in all respects;
                                         and (B) in all other cases, in all material respects (and for this purpose, any reference
                                         to &quot;material&quot; or other concepts of materiality in such representations and
                                         warranties shall be ignored), (except it being understood the number of Trinidad Shares
                                         outstanding may increase from the number outstanding on the date of this Agreement solely
                                         as a result of the conversion of securities of Trinidad convertible into Trinidad Shares,
                                         but only to the extent such convertible securities are specifically described in paragraph
                                         (i) of Schedule D, and that the number of Trinidad DSUs, Trinidad RSUs, Trinidad PSUs
                                         and Trinidad SARs may change due to their vesting, expiry or termination in accordance
                                         with their terms), and Trinidad shall have provided to Precision a certificate of two
                                         senior officers of Trinidad certifying the foregoing on the Effective Date, provided
                                         that Trinidad shall be entitled to cure any breach of a representation or warranty within
                                         ten (10) Business Days after receipt of written notice thereof from Precision (except
                                         that no cure period shall be provided for a breach which by its nature cannot be cured
                                         or is a wilful breach and, in no event, shall any cure period extend beyond the Outside
                                         Date).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify"><U>Covenants</U>. Trinidad shall have
                                         complied in all material respects with its covenants herein, and Trinidad shall have
                                         provided to Precision a certificate of two senior officers certifying compliance with
                                         such covenants; provided that Trinidad shall be entitled to cure any breach of a covenant
                                         within ten (10) Business Days after receipt of written notice thereof from Precision
                                         (except that no cure period shall be provided for a breach which by its nature cannot
                                         be cured and, in no event, shall any cure period extend beyond the Outside Date).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify"><U>No Actions</U>. No act, action,
                                         suit, proceeding, objection or opposition shall have been threatened or taken against
                                         Trinidad before or by any Governmental Authority or by any elected or appointed public
                                         official or private Person. in Canada or elsewhere, whether or not having the force of
                                         law, and no law, regulation, policy, judgment, decision, order, ruling or directive (whether
                                         or not having the force of law) shall have been proposed, enacted, promulgated, amended
                                         or applied, which in the sole judgment of Precision, acting reasonably, in either case
                                         has had or, if the Arrangement was consummated, would result in a Material Adverse Effect
                                         on Trinidad (taken as a whole) or would materially impede the ability of the Parties
                                         to complete the Arrangement in accordance with its terms; and no proceedings or investigations
                                         under the Corruption Acts shall be pending against Trinidad or its subsidiaries, nor
                                         any of their respective directors, officers, agents, employees, consultants or other
                                         Persons acting on behalf of Trinidad or any of its subsidiaries, or to the knowledge
                                         of Trinidad, threatened against or affecting, Trinidad or its subsidiaries or any of
                                         their respective directors, officers, agents, employees, consultants or other Persons
                                         acting on behalf of Trinidad or any of its subsidiaries.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify"><U>Trinidad
                                         Transaction Costs</U>. The Trinidad Transaction Costs shall not exceed the amount disclosed
                                         in writing by Trinidad to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify"><U>No Material Adverse Change</U>.
                                         Between the date hereof and the Effective Time, there shall not have occurred any Material
                                         Adverse Change with respect to Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify"><U>Board and Trinidad Securityholders</U>.
                                         Trinidad shall have furnished Precision with:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a certified copy of the resolutions duly passed by the Trinidad Board approving this Agreement and the consummation of the transactions
contemplated hereby; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a certified copy of the resolution of Trinidad Securityholders, duly passed at the Trinidad Meeting, approving the Arrangement
Resolution.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify"><U>Trinidad Securities</U>. Immediately
                                         prior to the Effective Time: (i)&nbsp;the aggregate number of Trinidad Shares issued
                                         and outstanding shall not exceed 275,355,199 including the Trinidad Shares which may
                                         be issued pursuant to the exercise of Trinidad Options; (ii)&nbsp;there shall be no other
                                         shares or other securities in the capital of Trinidad outstanding; and (iii)&nbsp;no
                                         Person shall have any agreement or option or any right or privilege (whether by law,
                                         pre-emptive right, by contract or otherwise) capable of becoming an agreement or option
                                         for the purchase, subscription, allotment or issuance of any unissued Trinidad Shares
                                         or other equity interests in Trinidad and without limitation all Trinidad Options shall
                                         have been exercised or terminated pursuant to their terms or in accordance with this
                                         Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify"><U>Releases</U>. Executed resignations
                                         and customary mutual releases, in a form and substance satisfactory to Precision, acting
                                         reasonably, shall have been received by Precision (effective as of the Effective Time)
                                         from each Executive Employee.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify"><U>Resignations and Releases</U>.
                                         Executed resignations and customary mutual releases, in form and substance satisfactory
                                         to Precision, acting reasonably, shall have been received by Precision from all of the
                                         directors of Trinidad and its subsidiaries (effective as of the Effective Time).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify"><U>Dissent Rights</U>. If:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Ensign
                                         or any Person or group of Persons acting jointly or in concert with Ensign has validly
                                         exercised Dissent Rights in respect of the Arrangement, holders of not greater than 15%
                                         of the outstanding Trinidad Shares shall have validly exercised Dissent Rights in respect
                                         of the Arrangement that have not been withdrawn as of the Effective Date; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">neither
                                         Ensign nor any Person or group of Persons acting jointly or in concert with Ensign has
                                         validly exercised Dissent Rights in respect of the Arrangement, holders of not greater
                                         than 5% of the outstanding Trinidad Shares shall have validly exercised Dissent Rights
                                         in respect of the Arrangement that have not been withdrawn as of the Effective Date.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The conditions in this Section&nbsp;5.2 are
for the exclusive benefit of Precision and may be asserted by Precision regardless of the circumstances or may be waived by Precision
in its sole discretion, in whole or in part, at any time and from time to time without prejudice to any other rights which Precision
may have.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">5.3</TD><TD STYLE="text-align: justify">Additional Conditions to Obligations
                                         of Trinidad</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The obligation of Trinidad to consummate the
transactions contemplated hereby, and in particular the Arrangement, is subject to the following conditions:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify"><U>Representations and Warranties</U>.
                                         The representations and warranties of Precision set forth in this Agreement shall be
                                         true and correct as of the Effective Date as if made on and as of such date (except to
                                         the extent such representations and warranties speak as of an earlier date or except
                                         as affected by transactions contemplated or permitted by this Agreement), except where
                                         the failure of such representations to be true and correct, individually or in the aggregate,
                                         would not result or would not reasonably be expected to result in a Material Adverse
                                         Change in respect of Precision and its subsidiaries, taken as a whole (and for this purpose,
                                         any reference to &quot;material&quot; or &quot;Material Adverse Effect&quot; or other
                                         concepts of materiality in such representations and warranties shall be ignored), except
                                         that the representations and warranties in: (i) paragraphs (a), (b), (c), and (bb) of
                                         Schedule C shall be true and correct in all material respects as of the Effective Date
                                         as if made on such date; Precision shall have provided to Trinidad a certificate of two
                                         senior officers of Precision certifying the foregoing on the Effective Date, provided
                                         that Precision shall be entitled to cure any breach of a representation or warranty within
                                         ten (10) Business Days after receipt of written notice thereof from Trinidad (except
                                         that no cure period shall be provided for a breach which by its nature cannot be cured
                                         or is a wilful breach and, in no event, shall any cure period extend beyond the Outside
                                         Date).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify"><U>Covenants</U>. Precision shall
                                         have complied in all material respects with its covenants herein, and Precision shall
                                         have provided to Trinidad a certificate of two senior officers certifying compliance
                                         with such covenants; provided that Precision shall be entitled to cure any breach of
                                         a covenant within ten (10) Business Days after receipt of written notice thereof from
                                         Trinidad (except that no cure period shall be provided for a breach which by its nature
                                         cannot be cured and, in no event, shall any cure period extend beyond the Outside Date).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify"><U>No Actions</U>. No act, action,
                                         suit, proceeding, objection or opposition shall have been threatened or taken against
                                         Precision before or by any Governmental Authority or by any elected or appointed public
                                         official or private Person in Canada or elsewhere, whether or not having the force of
                                         law, and no law, regulation, policy, judgment, decision, order, ruling or directive (whether
                                         or not having the force of law) shall have been proposed, enacted, promulgated, amended
                                         or applied, which in the sole judgment of Trinidad, acting reasonably, in either case
                                         has had or, if the Arrangement was consummated, would result in a Material Adverse Effect
                                         on Precision (taken as a whole) or would materially impede the ability of the Parties
                                         to complete the Arrangement in accordance with its terms; and no proceedings or investigations
                                         under the Corruption Acts shall be pending against Precision or its subsidiaries, nor
                                         any of their respective directors, officers, agents, employees, consultants or other
                                         Persons acting on behalf of Precision or any of its subsidiaries, or to the knowledge
                                         of Precision, threatened against or affecting, Precision or its subsidiaries or any of
                                         their respective directors, officers, agents, employees, consultants or other Persons
                                         acting on behalf of Precision or any of its subsidiaries.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify"><U>No Material Adverse Change</U>.
                                         Between the date hereof and the Effective Time, there shall not have occurred any Material
                                         Adverse Change with respect to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify"><U>Board and Precision Shareholders</U>.
                                         Precision shall have furnished Trinidad with:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a certified copy of the resolutions duly passed by the Precision Board approving this Agreement and the consummation of the transactions
contemplated hereby; and</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a certified copy of the resolution of the Precision Shareholders duly passed at the Precision Meeting, approving the issuance
of the Precision Shares pursuant to the Arrangement and the election of one Trinidad Nominee to the Precision Board.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify"><U>Purchase Consideration</U>. Precision
                                         shall have deposited or caused to be deposited in escrow with the Depositary under the
                                         Arrangement the Precision Shares to be issued pursuant to the Arrangement no later than
                                         the Business Day immediately before the Effective Date.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="text-align: justify"><U>Precision
                                         Board Representation</U>. Each of <FONT STYLE="font-size: 10pt">Kenneth S. Stickland
                                         and Nancy Laird</FONT> (the <B>&quot;Trinidad Nominees</B>&quot;) shall have been elected
                                         or appointed to the Precision Board effective immediately upon the occurrence of the
                                         Effective Time, subject to compliance by such Trinidad Nominees with the requirements
                                         of the ABCA and the Exchanges, and Precision shall have entered into the Precision Nomination
                                         Agreement in the form agreed to as at the date hereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The conditions in this Section&nbsp;5.3 are
for the exclusive benefit of Trinidad and may be asserted by Trinidad regardless of the circumstances or may be waived by Trinidad
in its sole discretion, in whole or in part, at any time and from time to time without prejudice to any other rights which Trinidad
may have.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">5.4</TD><TD STYLE="text-align: justify">Notice and Effect of Failure to Comply
                                         with Conditions</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Each of Precision and Trinidad shall give
prompt notice to the other of the occurrence, or failure to occur, at any time from the date hereof to the Effective Date of any
event or state of facts which occurrence or failure would, or would be likely to: (i) cause any of the representations or warranties
of such Party contained herein to be untrue or inaccurate in any material respect; or (ii) result in the failure to comply with
or satisfy any covenant, condition or agreement to be complied with or satisfied by any Party hereunder; provided, however, that
no such notification will affect the representations or warranties of the Parties or the conditions to the obligations of the
Parties hereunder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Precision may not exercise its right to terminate
this Agreement pursuant to Section&nbsp;8.1(a)(v), and Trinidad may not exercise its right to terminate this Agreement pursuant
to Section&nbsp;8.1(a)(vi), unless the Party seeking to terminate the Agreement (the &quot;<B>Terminating Party</B>&quot;) has
delivered a written notice (the &quot;<B>Termination Notice</B>&quot;) to the other Party (the &quot;<B>Breaching Party</B>&quot;)
specifying in reasonable detail all breaches of covenants, representations and warranties or other matters which the Terminating
Party asserts as the basis for the termination right. If any such notice is delivered, provided that the Breaching Party is proceeding
diligently to cure such matter and such matter is capable of being cured prior to the Outside Date (it being agreed that matters
arising out of any wilful breaches are not capable of being cured), the Party seeking to terminate may not exercise such termination
right until the earlier of (a) the Outside Date, and (b) the date that is ten (10) Business Days following receipt of such Termination
Notice by the Breaching Party, if such matter has not been cured by such date. If the Terminating Party delivers a Termination
Notice prior to the date of the Trinidad Meeting or Precision Meeting, unless the Parties agree otherwise, Trinidad or Precision,
as applicable, shall postpone or adjourn the Trinidad Meeting or Precision Meeting, as applicable, to the earlier of (a) three
(3) Business Days prior to the Outside Date and (b) the date that is ten (10) Business Days following receipt of such Termination
Notice by the Breaching Party.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">5.5</TD><TD STYLE="text-align: justify">Satisfaction of Conditions</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The conditions set out in this Article 5 are
conclusively deemed to have been satisfied, waived or released when, with the agreement of the Parties, Articles of Arrangement
are filed under the ABCA to give effect to the Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
6<BR>
<FONT STYLE="font-size: 10pt">NON-SOLICITATION AND AGREEMENT AS TO DAMAGES</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">6.1</TD><TD STYLE="text-align: justify">Covenants Regarding Non-Solicitation</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">Trinidad shall immediately cease and
                                         cause to be terminated all existing solicitations, discussions and negotiations (including,
                                         without limitation, through any of its Representatives), with any parties (other than
                                         Precision) initiated or conducted before the date of this Agreement with respect to any
                                         proposal that constitutes, or may reasonably be expected to constitute or lead to an
                                         Acquisition Proposal. Trinidad represents and warrants that neither it nor any of its
                                         subsidiaries has waived, amended or failed to enforce any standstill provisions contained
                                         in a confidentiality agreement or otherwise for any Person other than Precision. Trinidad
                                         and its subsidiaries shall (i)&nbsp;enforce against all third parties, other than Precision,
                                         any confidentiality, standstill or similar agreement or restriction to which Trinidad
                                         or any of its subsidiaries is a party (and shall not provide any consent that would relieve
                                         any such third party from any such restriction), and (ii)&nbsp;immediately discontinue,
                                         and shall cause its Representatives to discontinue, access to any of their confidential
                                         information and not allow or establish access to any of their confidential information,
                                         or any data room, virtual or otherwise shall immediately request, to the extent that
                                         it is entitled to do so, and exercise all rights it has to require the return or destruction
                                         of all information provided to any third parties who have entered into a confidentiality
                                         agreement with Trinidad relating to an Acquisition Proposal and shall use all reasonable
                                         commercial efforts to ensure that such requests are honoured. Trinidad shall promptly
                                         notify Precision, at first orally and then in writing, of any non-compliance by any Person
                                         with any such request by Trinidad (of which it is aware without revealing the identity
                                         of such Person if not permitted to do so under the applicable confidentiality agreement).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">Trinidad shall not, directly or indirectly,
                                         do or authorize or permit any of its officers, directors or employees or any financial
                                         advisor, expert or other representative (&quot;<B>Representatives</B>&quot;) to do, any
                                         of the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
solicit, assist, initiate, encourage or in any way facilitate (including by way of furnishing information, or entering into any
form of written or oral agreement, arrangement or understanding) any Acquisition Proposal or inquiries, proposals or offers regarding
an Acquisition Proposal;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into or participate in any discussions or negotiations regarding an Acquisition Proposal, or furnish to any other Person
any information with respect to its businesses, properties, operations, prospects or conditions (financial or otherwise) in connection
with an Acquisition Proposal or otherwise cooperate in any way with, or assist or participate in, facilitate or encourage, any
effort or attempt of any other Person to do or seek to do any of the foregoing;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
withdraw, amend, modify or qualify, or propose publicly to withdraw, amend, modify or qualify, in any manner adverse to Precision,
the approval of the Arrangement by the Trinidad Board or the recommendations or determinations of the Trinidad Board referred
to in Section&nbsp;2.3 except in the manner contemplated by Section 6.1(h);</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"> (iv) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">waive,
modify or release any third party from or otherwise forbear in the enforcement of, or enter into or participate in any
discussions, negotiations or agreements to waive, modify, release any third party from, or provide any consent to any third
party under, or otherwise forbear in respect of, any rights or other benefits under confidential information agreements,
including, without limitation, any &quot;standstill provisions&quot; thereunder; or</FONT></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
accept, recommend, approve, agree to, endorse, or propose publicly to accept, recommend, approve, agree to, or endorse any Acquisition
Proposal or agreement with respect thereto, or otherwise take any action that could reasonably be expected to lead to an Acquisition
Proposal;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">provided however, that notwithstanding the foregoing
provisions of this Section&nbsp;6.1(b), Trinidad and its Representatives may prior to obtaining the approval of the Arrangement
Resolution by Trinidad Securityholders at the Trinidad Meeting:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
enter into or participate in any discussions or negotiations with a third party who (without any solicitation, initiation or encouragement,
directly or indirectly, after the date of this Agreement, by Trinidad or any of its Representatives) seeks to initiate such discussions
or negotiations with Trinidad that do not or will not require any waiver, modification or release of, or consent under, any confidentiality,
standstill or similar agreement or restriction to which Trinidad or any of its subsidiaries is a party, or otherwise result from
a breach of this Section&nbsp;6.1 and, subject to execution of a confidentiality and standstill agreement on terms that are no
less favourable to Trinidad than those contained in the Confidentiality Agreements (provided that such confidentiality agreement
shall provide for disclosure thereof (along with all information provided thereunder) to Precision as set out below and shall
not grant such third party the exclusive right to negotiate with Trinidad), may furnish to such third party information concerning
Trinidad and its business, properties and assets, in each case if, and only to the extent that:</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         third party has first made a written <I>bona fide</I> Acquisition Proposal which is a
                                         Superior Proposal;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">prior
                                         to furnishing such information to or entering into or participating in any such discussions
                                         or negotiations with such third party, Trinidad provides prompt notice to Precision to
                                         the effect that it is furnishing information to or entering into or participating in
                                         discussions or negotiations with such Person together with a copy of the confidentiality
                                         and standstill agreement referenced above and, if not previously provided to Precision,
                                         copies of all information provided to such third party concurrently with the provision
                                         of such information to such third party, and provided further that Trinidad shall notify
                                         Precision orally and in writing of any inquiries, offers or proposals with respect to
                                         a Superior Proposal (which written notice shall include, without limitation, a copy of
                                         any such proposal (and any amendments or supplements thereto), the identity of the Person
                                         making it, and, if not previously provided to Precision, copies of all information provided
                                         to such party), within 24 hours of the receipt thereof, shall keep Precision promptly
                                         and fully informed of each change in the proposed consideration to be offered pursuant
                                         to such Acquisition Proposal and each material change in any of the terms of such Acquisition
                                         Proposal; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trinidad
                                         shall continue to at all times be in compliance with this Section&nbsp;6.1; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
accept, recommend, approve or enter into an agreement to implement a Superior Proposal from a third party (provided that, for
greater certainty, the third party making the Acquisition Proposal shall not have been restricted from making, or require consent
from the Trinidad Board for such Acquisition Proposal pursuant to existing confidentiality, non-disclosure or standstill agreement
or similar restriction), but only if prior to such acceptance, recommendation, approval or implementation, the Trinidad Board
shall have concluded in good faith, after considering all proposals to adjust the terms and conditions of this Agreement as contemplated
by Section&nbsp;6.1(d) and after receiving the advice of counsel, that the failure by the Trinidad Board to take such action would
be inconsistent with its fiduciary duties under Applicable Laws and Trinidad complies, and at all times has complied, with all
of its obligations set forth in this Section&nbsp;6.1 and terminates this Agreement in accordance with Section&nbsp;8.1(a)(viii)
and concurrently therewith pays the Precision Termination Fee to Precision.</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">Trinidad shall promptly (and in any
                                         event within 24 hours) notify Precision (at first orally and then in writing) of any
                                         Acquisition Proposal (or any amendment thereto) or any request for non-public information
                                         relating to Trinidad, its subsidiaries or their assets, or any amendments to the foregoing.
                                         Such notice shall include a copy of any written Acquisition Proposal (and any amendment
                                         thereto) which has been received or, if no written Acquisition Proposal has been received,
                                         a description of the material terms and conditions of, and the identity of the Person
                                         making any inquiry, proposal, offer or request. In addition, Trinidad shall provide Precision
                                         with copies of any other agreements relating to the Acquisition Proposal to which it
                                         has access (for example, lock-up or voting agreements with shareholders of Trinidad or
                                         agreements to provide financing, financial support or other assistance to the Person
                                         making such Acquisition Proposal) and any amendments thereto. Trinidad shall keep Precision
                                         promptly and fully informed of each change in the proposed consideration to be offered
                                         pursuant to such Acquisition Proposal and of each material change in any of the terms
                                         of such Acquisition Proposal and shall provide to Precision copies of all material or
                                         substantive correspondence with the Person making such Acquisition Proposal, with respect
                                         to such Acquisition Proposal or proposal, inquiry, offer or request if in writing or
                                         electronic form, and if not in writing or electronic form, a description of the material
                                         terms or such correspondence. Trinidad shall provide to Precision copies of all material
                                         or substantive correspondence with the Trinidad Securityholders with respect to any Acquisition
                                         Proposal or proposal, inquiry, offer or request if in writing or electronic form, and
                                         if not in writing or electronic form, a description of the material terms of such correspondence.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Trinidad shall give Precision, orally
                                         and in writing, at least five (5) days' advance notice of any decision by the Trinidad
                                         Board to accept, recommend, approve or enter into an agreement to implement a Superior
                                         Proposal, which shall set out the reasonable determination of the Trinidad Board, in
                                         consultation with its financial advisors, of the financial value of the consideration
                                         offered by such third party (including the value ascribed to any non-cash consideration)
                                         to Trinidad Shareholders under such Superior Proposal, and which notice shall confirm
                                         that the Trinidad Board has determined that such Acquisition Proposal constitutes a Superior
                                         Proposal, shall identify the third party making the Superior Proposal and provide a copy
                                         thereof (including all proposed agreements relating thereto) and any amendments thereto.
                                         During the five (5) day period commencing on delivery of such notice which complies with
                                         the foregoing requirements in all respects, Trinidad agrees not to accept, recommend,
                                         approve or enter into any agreement to implement such Superior Proposal and shall not
                                         withdraw, redefine, modify or change the recommendation of its directors regarding the
                                         Arrangement. During such five (5) day period Trinidad shall, and shall cause its financial
                                         and legal advisors to, negotiate in good faith with Precision and its financial and legal
                                         advisors to enable Precision, at its election, to propose adjustments in the terms and
                                         conditions of this Agreement and the Arrangement as Precision deems appropriate. The
                                         Trinidad Board shall review any proposal by Precision to amend the terms of the transactions
                                         contemplated in this Agreement and the Arrangement in order to determine, in good faith
                                         in the exercise of its fiduciary duties, whether Precision's proposal to amend the transactions
                                         contemplated by this Agreement and the Arrangement would result in the Acquisition Proposal
                                         not being a Superior Proposal compared to the proposed amendment to the transactions
                                         contemplated by this Agreement and the Arrangement. In the event Precision proposes to
                                         amend this Agreement such that the Superior Proposal ceases to be a Superior Proposal
                                         and so advises the Trinidad Board in writing prior to the expiry of such five (5) day
                                         period, the Trinidad Board shall not accept, recommend, approve or enter into any agreement
                                         to implement such Superior Proposal and shall not withdraw, redefine, modify or change
                                         its recommendation in respect of the Arrangement and Precision and Trinidad shall enter
                                         into an amended version of this Agreement reflecting such proposed amendments, and upon
                                         execution thereof, the Trinidad Board shall promptly reaffirm its recommendations and
                                         determinations referred to in Section&nbsp;2.3 by press release. For greater certainty,
                                         each successive amendment to an Acquisition Proposal shall constitute a new Acquisition
                                         Proposal for the purposes of this Section&nbsp;6.1 and shall initiate a new five (5)
                                         day match right period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Unless Section 6.1(d) applies, if
                                         requested by Precision, the Trinidad Board shall promptly reaffirm its recommendations
                                         and determinations referred to in Section&nbsp;2.3 by press release (and in any event
                                         within two (2) Business Days of being requested to do so by Precision (or in the event
                                         that the Trinidad Meeting to approve the Arrangement is scheduled to occur within such
                                         period, as soon as practicable and in any event prior to the scheduled date of the Trinidad
                                         Meeting)).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Precision agrees that all information
                                         that may be provided to it by Trinidad with respect to any Acquisition Proposal pursuant
                                         to this Section&nbsp;6.1 shall be treated as if it were &quot;<B>Confidential Information</B>&quot;
                                         as that term is defined in the Confidentiality Agreements and shall not be disclosed
                                         or used except in accordance with the provisions of the Confidentiality Agreements or
                                         in order to enforce its rights under this Agreement in legal proceedings.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify">In the event that Trinidad provides
                                         the notice contemplated by Section&nbsp;6.1(d) on a date which is less than five (5)
                                         days prior to the Trinidad Meeting, Precision shall be entitled to require Trinidad to
                                         adjourn or postpone the Trinidad Meeting to a date acceptable to Precision, acting reasonably.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify">Neither Trinidad nor the Trinidad
                                         Board shall withdraw, qualify, amend or modify in a manner adverse to Precision, the
                                         approval or recommendation of the Arrangement by the Trinidad Board, except if such withdrawal,
                                         qualification, amendment or modification occurs simultaneously with the entry by Trinidad,
                                         in accordance with the requirements of this Section 6.1, into a definitive agreement
                                         with respect to an Acquisition Proposal constituting a Superior Proposal.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify">Trinidad shall ensure that its Representatives
                                         are aware of the provisions of this Section&nbsp;6.1 and shall be responsible for any
                                         breach of this Section&nbsp;6.1 by any of them.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify">Nothing in this Agreement shall prevent
                                         the Trinidad Board from complying with section 2.17 of NI 62-104 and similar provisions
                                         under Applicable Canadian Securities Laws relating to the provision of directors' circulars
                                         in respect of an Acquisition Proposal provided that Trinidad shall provide Precision
                                         and its legal counsel with a reasonable opportunity to review the form and content of
                                         any such circular, and Trinidad shall be responsible at all times for any breach of this
                                         Section 6.1 by Trinidad or its Representatives in connection with such compliance by
                                         the Trinidad Board.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">6.2</TD><TD STYLE="text-align: justify">Precision Damages</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">If at any time after the execution of this
Agreement:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">the Trinidad Board fails to unanimously
                                         recommend that holders of Trinidad Shares vote in favour of the Arrangement in any press
                                         release contemplated by Section 10.4 that is issued by Trinidad with respect to this
                                         Agreement or the Arrangement or as otherwise required by this Agreement or withdraws,
                                         amends, changes or qualifies, or proposes publicly to withdraw, amend, change or qualify,
                                         in any manner adverse to Precision, any of its recommendations or determinations referred
                                         to in Section&nbsp;2.3 (it being understood that the taking of a neutral position or
                                         no position with respect to an announced Acquisition Proposal beyond the earlier of a
                                         period of two (2) Business Days following such announcement or the date which is the
                                         day prior to the date proxies in respect of the Trinidad Meeting must be deposited shall
                                         be considered an adverse modification to such recommendation);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">the Trinidad Board shall have failed
                                         to publicly reaffirm any of its recommendations and determinations referred to in Section&nbsp;2.3
                                         in accordance with Sections 6.1(d) or 6.1(e);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">this Agreement is terminated by either
                                         party pursuant to&nbsp;Sections 8.1(a)(ii) or (iv) (unless the reason for termination
                                         pursuant to Section 8.1(a)(iv) was the failure by Precision to hold the Precision Meeting
                                         on or prior to the Outside Date) and prior to such termination an Acquisition Proposal
                                         is or has been publicly announced, proposed, disclosed, offered or made by any Person
                                         other than Precision or is affiliates (including, for clarity, the Existing Bid announced
                                         prior to the execution of this Agreement) and, within 12 months following the date of
                                         such termination:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         Trinidad Board recommends any Acquisition Proposal (including, for clarity, any Acquisition
                                         Proposal with Ensign or any Person or group of Persons acting jointly or in concert with
                                         Ensign) which is subsequently consummated at any time thereafter (whether or not within
                                         such 12 month period),</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trinidad
                                         enters into a binding definitive agreement in respect of any Acquisition Proposal (including,
                                         for clarity, any Acquisition Proposal with Ensign or any Person or group of Persons acting
                                         jointly or in concert with Ensign) which is subsequently consummated at any time thereafter
                                         (whether or not within such 12 month period), or </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any
                                         Acquisition Proposal is consummated (including, for clarity, by Ensign or any Person
                                         or group of Persons acting jointly or in concert with Ensign);</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">Trinidad terminates this Agreement
                                         pursuant to Section 8.1(a)(viii);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify">Precision terminates this Agreement
                                         pursuant to Section 8.1(a)(ix); or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify">Trinidad terminates this Agreement
                                         pursuant to Section 8.1(a)(x),</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">(each of the above a <B>&quot;Precision Damages Event</B>&quot;
provided that, for clarity, in the case of Section&nbsp;6.2(b), a Precision Damages Event will not have occurred unless and until
such time that the Trinidad Board has failed to publicly reaffirm any of its recommendations or determinations referred to in
Section&nbsp;2.3, as requested by Precision, within the applicable time period contemplated by Section&nbsp;6.1(d) or 6.1(e)),
then in the event of the termination of this Agreement pursuant to Sections&nbsp;8.1(a)(ii), (iv), (vii), (viii), (ix) or (x),
as applicable to the relevant Precision Damages Event, Trinidad shall pay to Precision (or to whom Precision may direct in writing)
$20.0 million (the <B>&quot;Precision Termination Fee</B>&quot;) as liquidated damages in immediately available funds to an account
designated by Precision. The Precision Termination Fee shall be paid as aforesaid:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">within two (2) Business Days immediately
                                         following the termination of this Agreement by Precision upon Precision Damages Event
                                         described in Sections 6.2(a), (b) or (e) above;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">in accordance with Sections&nbsp;6.1(b)(vii)
                                         and 8.1(a)(viii) in the case of the Precision Damages Event described in Section 6.2(d);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">upon consummation of the Acquisition
                                         Proposal referred to therein in the case of the Precision Damages Event described in
                                         Section 6.2(c) above; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">in accordance with Section 8.1(a)(x)
                                         in the case of the Precision Damages Event described in Section 6.2(f).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Following a Precision Damages Event, but prior to payment of the
Precision Termination Fee, Trinidad shall and shall be deemed to hold such payment in trust for Precision. Trinidad shall only
be obligated to pay one Precision Termination Fee pursuant to this Section.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">6.3</TD><TD STYLE="text-align: justify">Precision Liquidated Damages</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Trinidad acknowledges that the Precision Termination
Fee set out in Section&nbsp;6.2 is a payment of liquidated damages which are a genuine pre-estimate of the damages which Precision
will suffer or incur as a result of the event giving rise to such damages and the resultant termination of this Agreement and
is not a penalty. Trinidad irrevocably waives any right it may have to raise as a defence that any such liquidated damages are
excessive or punitive. For greater certainty, Precision agrees that the payment of the amount pursuant to Section&nbsp;6.2 is
the sole monetary remedy of Precision in respect of the events contemplated by Section 6.2; provided, however, that this limitation
shall not apply in the event of fraud or wilful breach of this Agreement by Trinidad. Nothing herein shall preclude Precision
from seeking injunctive relief to restrain any breach or threatened breach of the covenants or agreements of Trinidad set forth
in this Agreement or otherwise to obtain specific performance of any of such acts, covenants or agreements, without the necessity
of posting bond or security in connection therewith.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
7<BR>
<FONT STYLE="font-size: 10pt">AMENDMENT</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">7.1</TD><TD STYLE="text-align: justify">Amendment</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">This Agreement may at any time and from time
to time before or after the holding of the Trinidad Meeting and the Precision Meeting but not later than the Effective Time, be
amended by written agreement of the Parties without, subject to Applicable Laws, further notice to or authorization on the part
of the Trinidad Securityholders and any such amendment may, without limitation:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">change the time for performance of
                                         any of the obligations or acts of the Parties;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">waive any inaccuracies or modify any
                                         representation or warranty contained herein or in any document delivered pursuant hereto;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify">waive compliance with or modify any
                                         of the covenants herein contained and waive or modify performance of any of the obligations
                                         of the Parties; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify">waive compliance with or modify any
                                         other conditions precedent contained herein;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">provided that no such amendment reduces or materially adversely
affects the consideration to be received by a Trinidad Shareholder without approval by the affected securityholders given in the
same manner as required for the approval of the Arrangement or as may be ordered by the Court.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">7.2</TD><TD STYLE="text-align: justify">Amendment of Plan of Arrangement</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">The Parties may agree to amend the Plan of
Arrangement as set forth in Article 6 of the Plan of Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
8<BR>
<FONT STYLE="font-size: 10pt">TERMINATION</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">8.1</TD><TD STYLE="text-align: justify">Termination</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">This Agreement may be terminated at
                                         any time prior to the Effective Date:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
by mutual written consent of Precision and Trinidad;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
by either Precision or Trinidad if the Arrangement Resolution shall have failed to receive the requisite vote of the Trinidad
Securityholders for approval at the Trinidad Meeting (including any adjournment or postponement thereof) in accordance with the
Interim Order;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by
                                         either Precision or Trinidad if the Precision Transaction Resolution shall have failed
                                         to receive the requisite vote of the Precision Shareholders for approval at the Precision
                                         Meeting (including any adjournment or postponement thereof);</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by
                                         either Precision or Trinidad if the Effective Time shall not have occurred on or prior
                                         to the Outside Date, except that the right to terminate the Agreement under this Section
                                         8.1(a)(iv) shall not be available to any Party whose failure to fulfill any of its covenants
                                         or obligations in this Agreement has been the cause of, or resulted in, the failure of
                                         the Effective Time to occur by such date;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by
                                         Precision if the conditions set forth in Sections&nbsp;5.1 and 5.2 (other than those
                                         conditions that by their nature are to be satisfied at closing of the Arrangement, but
                                         subject to satisfaction or waiver of those conditions) have not been satisfied or waived
                                         by the Outside Date or such condition is incapable of being satisfied by the Outside
                                         Date, provided that Precision has complied with Section 5.4 and Precision is not then
                                         in breach of this Agreement so as to cause any of the conditions set forth in Sections
                                         5.1 and 5.3 not to be satisfied;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in; text-align: right"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by Trinidad if the conditions set forth in Sections&nbsp;5.1
and 5.3 (other than those conditions that by their nature are to be satisfied at closing of the Arrangement, but subject to satisfaction
or waiver of those conditions) have not been satisfied or waived by the Outside Date or such condition is incapable of being satisfied
by the Outside Date, provided that Trinidad has complied with Section 5.4 and Trinidad is not then in breach of this Agreement
so as to cause any of the conditions set forth in Sections 5.1 and 5.2 not to be satisfied;</FONT></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by
                                         Precision upon the occurrence of a Precision Damages Event as provided in Section&nbsp;6.2;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in; text-align: right"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by Trinidad to accept, recommend, approve or enter into
an agreement to implement a Superior Proposal provided that: (i) Trinidad has complied with its obligations set forth in Section&nbsp;6.1;
and (ii)&nbsp;Trinidad concurrently pays the Precision Termination Fee to Precision;</FONT></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in; text-align: right"></TD><TD STYLE="width: 0.5in">(ix)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by Precision if any Person or group of Persons acting
jointly and in concert (other than Precision) shall have acquired ownership of, or control or direction over Trinidad Shares which
represent more than 50% of the issued and outstanding Trinidad Shares excluding securities of Trinidad beneficially owned, or
over which control or direction is exercised, by such acquiring Person or by any Person acting jointly or in concert with such
acquiring person; or</FONT></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in; text-align: right"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">by Trinidad if any Person or group of Persons acting
jointly and in concert (other than Precision) shall have acquired ownership of, or control or direction over Trinidad Shares which
represent more than 50% of the issued and outstanding Trinidad Shares excluding securities of Trinidad beneficially owned, or
over which control or direction is exercised, by such acquiring Person or by any Person acting jointly or in concert with such
acquiring person; provided that (i) Trinidad has complied with its obligations set forth in Section 6.1; and (ii) Trinidad concurrently
pays the Precision Termination Fee to Precision.</FONT></TD>
</TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 1.25in">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify">If this Agreement is terminated in
                                         accordance with the foregoing provisions of this Section&nbsp;8.1, this Agreement shall
                                         forthwith become void and no Party shall have any liability or further obligation to
                                         the other Party hereunder except as provided in Article&nbsp;6 (provided in the case
                                         of Sections&nbsp;6.2 and 6.3, the right of payment arose, other than with respect to
                                         Section&nbsp;6.2(c), prior to the termination of this Agreement) and Sections&nbsp;1.4,
                                         1.5, 1.10 and 4.3, Article 9 and Article 10, all of which survive such termination and
                                         each Party's obligations under the Confidentiality Agreements, which shall survive such
                                         termination, and provided that neither the termination of this Agreement nor anything
                                         contained in this Section&nbsp;8.1(b) shall relieve any Party from any liability for
                                         any fraud or wilful breach by it of this Agreement prior to the date of such termination.
                                         Unless otherwise provided herein, the exercise by either Party of any right of termination
                                         hereunder shall be without prejudice to any other remedy available to such Party and
                                         for greater certainty nothing in this Section&nbsp;8.1 shall relieve any Party from liability
                                         for any breach by it of this Agreement that occurred prior to the date of termination.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
9<BR>
<FONT STYLE="font-size: 10pt">NOTICES</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">9.1</TD><TD STYLE="text-align: justify">Notices</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">All notices that may or are required to be given pursuant to any
provision of this Agreement are to be given or made in writing and served personally, delivered by overnight courier or sent by
email transmission:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify">in the case of Precision, to:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">Precision Drilling Corporation</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">10350 Richmond Avenue, Suite 700</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">Houston, Texas 77042</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in; color: blue">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Attention: Veronica Foley, Senior Vice
President, General Counsel &amp; Secretary</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"><IMG SRC="blk.jpg" ALT=""></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">with a copy to:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Torys LLP</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">4600, 525 8<SUP>th</SUP> Avenue SW</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">Calgary, Alberta T2P 1A1</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Attention: &#9;Stephanie Stimpson</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"><IMG SRC="blk.jpg" ALT=""></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of Trinidad, to:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Trinidad Drilling Limited</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">400, 250 &ndash; 2<SUP>nd</SUP> Street SW</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Calgary, Alberta T2P 0C1</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Attention: <B>&#9;</B>Brent J. Conway, President
and Chief Executive Officer</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"><IMG SRC="blk.jpg" ALT=""></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">with a copy to:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Blake, Cassels &amp; Graydon LLP</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Suite 3500, 855 &ndash; 2nd Street SW</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Calgary, Alberta T2P 4J8</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Attention:&#9;Scott W.N. Clarke</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0"><IMG SRC="blk.jpg" ALT=""></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">or such other address as the Parties may, from time to time, advise
the other Party hereto by notice in writing. The date or time of receipt of any such notice will be deemed to be the date of delivery
or the time such email transmission is received.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article
10<BR>
<FONT STYLE="font-size: 10pt">GENERAL</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.1</TD><TD STYLE="text-align: justify">Non-Survival of Representations and
                                         Warranties</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">No investigation by or on behalf of, or knowledge
of, a Party, will mitigate, diminish or affect the representations or warranties made by the other Party in this Agreement or
any certificate delivered by such other Party pursuant to this Agreement. The respective representations and warranties of the
Parties contained in this Agreement shall not survive the completion of the Arrangement and shall expire and be terminated on
the earlier of the Effective Time and the date on which this Agreement is terminated in accordance with its terms. This Section&nbsp;10.1
shall not limit any undertaking, obligations covenant or agreement of whatever nature of a Party or any of its subsidiaries which,
by its terms, contemplates performance after the Effective Time or date on which this Agreement is terminated, as the case may
be.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.2</TD><TD STYLE="text-align: justify">Binding Effect</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">This Agreement shall be binding upon and enure
to the benefit of the Parties hereto and their respective successors and permitted assigns.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.3</TD><TD STYLE="text-align: justify">Assignment</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Neither this Agreement nor any of the rights,
interests or obligations hereunder shall be assigned by any of the Parties hereto without the prior written consent of the other
Party hereto, except that Precision may assign all or a portion of its rights under this Agreement to any subsidiary of Precision
but no assignment shall relieve Precision of any of its obligations hereunder.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.4</TD><TD STYLE="text-align: justify">Public Communications</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Each of Precision and Trinidad agree to consult
with each other prior to issuing any press releases or otherwise making public statements with respect to this Agreement or the
Arrangement or making any filing with any Governmental Authority with respect thereto. Without limiting the generality of the
foregoing, no Party shall issue any press release regarding the Arrangement, this Agreement or any transaction relating to this
Agreement without first providing a draft of such press release to the other Party and reasonable opportunity for comment; provided,
however, that the foregoing shall be subject to each Party's overriding obligation to make any such disclosure required in accordance
with Applicable Laws. If such disclosure is required and the other Party has not reviewed or commented on the disclosure, the
Party making such disclosure shall use all reasonable commercial efforts to give prior oral or written notice to the other Party,
and if such prior notice is not possible, to give such notice promptly following such disclosure.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.5</TD><TD STYLE="text-align: justify">Costs</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">Except as otherwise expressly provided for
in Section&nbsp;3.6(c) and Article 6, all fees, costs and expenses incurred in connection with this Agreement and the transactions
contemplated hereby shall be paid by the Party incurring such cost or expense, whether or not the Arrangement is completed.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.6</TD><TD STYLE="text-align: justify">Severability</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">If any one or more of the provisions or parts contained in this
Agreement should be or become invalid, illegal or unenforceable in any respect, the remaining provisions or parts contained herein
shall be and shall be conclusively deemed to be severable therefrom and the validity, legality or enforceability of such remaining
provisions or parts shall not in any way be affected or impaired by the severance of the provisions or parts so severed. Upon
such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable
manner to the end that the transactions contemplated hereby are fulfilled to the fullest extent possible.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.7</TD><TD STYLE="text-align: justify">Further Assurances</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Each Party hereto shall, from time to time and at all times hereafter,
at the request of the other Party hereto, but without further consideration, do all such further acts, and execute and deliver
all such further documents and instruments and provide all such further assurances as may be reasonably required in order to fully
perform and carry out the terms and intent hereof.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.8</TD><TD STYLE="text-align: justify">Specific Performance</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Precision and Trinidad agree that irreparable harm would occur
for which money damages would not be an adequate remedy at law in the event that any of the provisions of this Agreement were
not performed by the other Party in accordance with the terms hereof. It is accordingly agreed that each Party shall be entitled
to an injunction or injunctions and other equitable relief to prevent breaches or threatened breaches of the provisions of this
Agreement or to otherwise obtain specific performance of any such provisions, any requirement for the securing or posting of any
bond in connection with the obtaining of any such injunctive or other equitable relief hereby being waived.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.9</TD><TD STYLE="text-align: justify">Time of Essence</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Time shall be of the essence of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.10</TD><TD STYLE="text-align: justify">Applicable Law and Enforcement</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This Agreement shall be governed, including as to validity, interpretation
and effect, by the Applicable Laws of the Province of Alberta and the Applicable Laws of Canada applicable therein. The Parties
hereby irrevocably submit and attorn to the exclusive jurisdiction of the courts of the Province of Alberta located in Calgary,
in respect of all matters arising out of this Agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.11</TD><TD STYLE="text-align: justify">Waiver</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Any Party may, on its own behalf only: (i)&nbsp;extend the time
for the performance of any of the obligations or acts of the other Party; (ii)&nbsp;waive compliance with the other Party's agreements
or the fulfillment of any conditions to its own obligations contained herein; or (iii)&nbsp;waive inaccuracies in the other Party's
representations or warranties contained herein or in any document delivered by the other Party; provided, however, that any such
extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such Party and, unless otherwise
provided in the written waiver, will be limited to the specific breach or condition waived.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.12</TD><TD STYLE="text-align: justify">Third Party Beneficiaries</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The provisions of Sections&nbsp;3.1(f), 3.2(a), 3.2(b) and 3.3(z)
are: (i) intended for the benefit of all such directors and officers and shall be enforceable by each of such persons and his
or her heirs, executors, administrators and other legal representatives (collectively, the &quot;<B>Third Party Beneficiaries</B>&quot;)
and Trinidad shall hold the rights and benefits of such sections in trust for and on behalf of the Third Party Beneficiaries and
Trinidad hereby accepts such trust and agrees to hold the benefit of and enforce performance of such covenants on behalf of the
Third Party Beneficiaries; and (ii)&nbsp;are in addition to, and not in substitution for, any other rights that the Third Party
Beneficiaries may have by contract or otherwise.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>[Remainder of page left blank intentionally &ndash; signatures
follow]</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I></I></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><I></I><BR STYLE="clear: both">
</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">10.13</TD><TD STYLE="text-align: justify">Counterparts</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">This Agreement may be executed by facsimile
or other electronic signature and in counterparts, each of which shall be deemed an original, and all of which together constitute
one and the same instrument.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">IN WITNESS WHEREOF the Parties have executed
this Agreement as of the date first above written.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.75in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-left: 0.05in; text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%"><P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in"><FONT STYLE="text-transform: uppercase"><B>Precision
        Drilling Corporation</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">By: <U>(signed) <I>&quot;Kevin A.
        Neveu&quot;</I></U></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">Name: Kevin A. Neveu</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">Title: President and Chief Executive
        Officer</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.05in; text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD><P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Trinidad Drilling
        Limited</B></FONT></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">By: <U>(signed) <I>&quot;Brent J. Conway&quot;</I></U></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">Name: Brent J. Conway</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">Title: President and Chief Executive Officer</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.05in">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in; margin: 0pt 0">&nbsp;</P>



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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">Schedule
&quot;A&quot;</FONT><BR>
<BR>
PLAN OF ARRANGEMENT</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PLAN OF ARRANGEMENT UNDER SECTION 193 </B><BR>
<B>OF THE </B><BR>
<B>BUSINESS CORPORATIONS ACT (ALBERTA)</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;1<BR>
Definitions and Interpretation</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.1</TD><TD STYLE="text-align: justify">In this Plan of Arrangement, the following terms have the following meanings:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">&quot;<B>ABCA</B>&quot; means the <I>Business Corporations Act</I>, R.S.A. 2000, c. B 9, including
the regulations promulgated thereunder as such may be amended from time to time prior to the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&quot;<B>Arrangement</B>&quot; means the arrangement pursuant to section 193 of the ABCA on the
terms and subject to the conditions set forth in this Plan of Arrangement, as supplemented, modified or amended or made at the
direction of the Court in the Final Order (with the consent of each of the Parties in accordance with Article&nbsp;6 of this Plan
of Arrangement);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">&quot;<B>Arrangement Agreement</B>&quot; means the arrangement agreement made as of October 5,
2018 between Precision and Trinidad, as the same may be amended, supplemented or otherwise modified from time to time in accordance
with its terms;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">&quot;<B>Arrangement Resolution</B>&quot; means the special resolution of Trinidad Securityholders
in respect of the Arrangement to be considered at the Trinidad Meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">&quot;<B>Articles of Arrangement</B>&quot; means the articles of arrangement of Trinidad in respect
of the Arrangement required under subsection 193(10) of the ABCA to be sent to the Registrar for filing after the Final Order has
been granted, which shall be in a form and content satisfactory to the Parties, acting reasonably;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">&quot;<B>Business Day</B>&quot; means any day other than a Saturday, Sunday or statutory holiday
or other day when banks in the City of Calgary, Alberta are not generally open for business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">&quot;<B>Certificate</B>&quot; means the certificate or other proof of filing to be issued by the
Registrar pursuant to subsection 193(11) of the ABCA giving effect to the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">&quot;<B>Court</B>&quot; means the Court of Queen&rsquo;s Bench of Alberta;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">&quot;<B>Depositary</B>&quot; means Computershare Trust Company of Canada or such other person
that may be appointed by Precision for the purpose of receiving deposits of certificates formerly representing Trinidad Shares
in connection with the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">&quot;<B>Dissent Rights</B>&quot; means the rights of dissent in respect of the Arrangement described
in Article&nbsp;4 of this Plan of Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">&quot;<B>Dissenting Shareholder</B>&quot; means a registered Trinidad Shareholder who validly exercises
its Dissent Rights pursuant to Article&nbsp;4 of this Plan of Arrangement and the Interim Order, and has not withdrawn, or been
deemed to have withdrawn, such exercise of Dissent Rights immediately prior to the Effective Time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">&quot;<B>Effective Date</B>&quot; means the date shown on the Certificate;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">&quot;<B>Effective Time</B>&quot; means the time at which the Articles of Arrangement are filed
with the Registrar on the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">&quot;<B>Encumbrance</B>&quot; means any mortgage, pledge, capital lease, assignment, charge, lien,
security interest, adverse interest in property, debenture, claim trust, royalty or other third party interest or encumbrance of
any kind whether contingent or absolute, and any agreement, option, right or privilege (whether by law, contract or otherwise)
capable of becoming any of the foregoing;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">&quot;<B>Final Order</B>&quot; means the final order of the Court approving the Arrangement pursuant
to subsection 193(9) of the ABCA, as such order may be amended (with the consent of each of the Parties acting reasonably) at any
time prior to the Effective Date or, if appealed, then unless such appeal is withdrawn or denied, as affirmed or as amended (provided
that any such amendment is acceptable to each of the Parties acting reasonably) on appeal;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(p)</TD><TD STYLE="text-align: justify">&quot;<B>Interim Order</B>&quot; means the interim order of the Court concerning the Arrangement
pursuant to subsection&nbsp;193(4) of the ABCA, providing for, among other things, the calling and holding of the Trinidad Meeting,
as such order may be affirmed, amended or modified by the Court with the consent of each of the Parties, acting reasonably;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(q)</TD><TD STYLE="text-align: justify">&quot;<B>Letter of Transmittal</B>&quot; means the letter of transmittal to be used by former registered
Trinidad Shareholders to surrender their certificate or certificates (as applicable) which, immediately prior to the Effective
Time, represented outstanding Trinidad Shares to the Depositary in order to receive certificates for the Precision Shares issued
to them pursuant to the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify">&quot;<B>Option In-the-Money Amount</B>&quot; has the meaning ascribed thereto in Section 3.1(b)(i);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify">&quot;<B>Parties</B>&quot; means, collectively, Precision and Trinidad, and &quot;<B>Party</B>&quot;
means either one of them;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify">&quot;<B>Plan</B>&quot; or &quot;<B>Plan of Arrangement</B>&quot; means this plan of arrangement
as amended or supplemented from time to time in accordance with the terms hereof, and &quot;hereby&quot;, &quot;hereof&quot;, &quot;herein&quot;,
&quot;hereunder&quot;, &quot;herewith&quot; and similar terms refer to this plan of arrangement and not to any particular provision
of this plan of arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify">&quot;<B>Precision</B>&quot; means Precision Drilling Corporation, a corporation existing under
the ABCA;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">&quot;<B>Precision Shares</B>&quot; means the common shares in the capital of Precision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(w)</TD><TD STYLE="text-align: justify">&quot;<B>Registrar</B>&quot; means the Registrar of Corporations or a Deputy Registrar of Corporations
appointed pursuant to section 263 of the ABCA;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify">&quot;<B>Tax Act</B>&quot; means the <I>Income Tax Act</I>, R.S.C. 1985, c. 1 (5th Supp.);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad</B>&quot; means Trinidad Drilling Limited, a corporation existing under the ABCA;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Closing VWAP</B>&quot; means the volume weighted average trading price of the
Trinidad Shares for the five trading days ending on the second trading day immediately prior to the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(aa)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Market Price</B>&quot; means the volume weighted average trading price of the
Trinidad Shares for the last trading day immediately prior to the Effective Date;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(bb)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Meeting</B>&quot; means the special meeting of the Trinidad Securityholders,
including any adjournment thereof, that is to be convened as provided by the Interim Order to consider, and if deemed advisable
approve, the Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(cc)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Optionholders</B>&quot; means holders of Trinidad Options;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(dd)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Option Plan</B>&quot; means the stock option plan of Trinidad, amended and restated
as of March 11, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ee)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Options</B>&quot; means the outstanding stock options of Trinidad granted under
the Trinidad Option Plan, whether or not vested, entitling the holders thereof to acquire Trinidad Shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ff)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SARholders</B>&quot; means holders of Trinidad SARs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(gg)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SARs</B>&quot; means the stock appreciation rights issued pursuant to the Trinidad
SARs Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(hh)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SARs Plan</B>&quot; means the stock appreciation rights plan of Trinidad, amended
and restated as of March 11, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Securityholders</B>&quot; means, collectively, the Trinidad Shareholders, the
Trinidad Optionholders and the Trinidad SARholders, from time to time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(jj)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Shareholders</B>&quot; means the holders of Trinidad Shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(kk)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Share Consideration</B>&quot; means 0.445 of a Precision Share per Trinidad Share;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ll)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Shareholder Rights Plan</B>&quot; means Trinidad&rsquo;s amended and restated
shareholder rights plan dated as of May 10, 2017, as such may be further amended, amended and restated or replaced from time to
time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(mm)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad Shares</B>&quot; means the common shares in the capital of Trinidad; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(nn)</TD><TD STYLE="text-align: justify">&quot;<B>Trinidad SRP Rights</B>&quot; means the rights issued pursuant to the Trinidad Shareholder
Rights Plan.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.2</FONT></TD><TD>Interpretation Not Affected by Headings, Etc.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">The division of this Plan of Arrangement into articles,
sections and subsections and the insertion of headings are for convenience of reference only and shall not affect the construction
or interpretation of this Plan of Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.3</FONT></TD><TD>Article and Section References</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Unless reference is specifically made to some other document
or instrument, all references herein to articles, sections and subsections are to articles, sections and subsections of this Plan
of Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.4</FONT></TD><TD>Number and Gender</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Unless the context otherwise requires, words importing
the singular number shall include the plural and vice versa; words importing any gender shall include all genders; and words importing
persons shall include individuals, partnerships, associations, corporations, funds, unincorporated organizations, governments,
regulatory authorities, and other entities.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.5</FONT></TD><TD>Currency</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Unless otherwise specified, all references to &quot;dollars&quot;
or &quot;$&quot; shall mean Canadian dollars.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.6</FONT></TD><TD>Day for Any Action</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the event that the date on which any action is required
to be taken hereunder by any of the Parties is not a Business Day in the place where the action is required to be taken, such action
shall be required to be taken on the next succeeding day which is a Business Day in such place.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.7</FONT></TD><TD>Statutory References</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">References in this Plan of Arrangement to any statute
or sections thereof shall include any regulations promulgated thereunder from time to time in effect and such statute or section
(or regulations thereunder) as amended, restated or re-enacted from time to time.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;2<BR>
Effect of the Arrangement</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">This Plan of Arrangement is made pursuant and subject to the provisions of and forms part of the
Arrangement Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.2</TD><TD STYLE="text-align: justify">This Plan of Arrangement and the Arrangement, upon the filing of the Articles of Arrangement and
the issuance of the Certificate, will become effective at, and be binding upon: (a) all registered and beneficial Trinidad Shareholders
(including Dissenting Shareholders); (b) Trinidad Optionholders; (c) Trinidad SARholders; (d) Trinidad; (e)&nbsp;Precision; (f)
the Depositary; and (g) all other persons, as and from the Effective Time.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.3</TD><TD STYLE="text-align: justify">The Articles of Arrangement and Certificate shall be filed and issued, respectively, with respect
to this Arrangement in its entirety. The Certificate shall be conclusive evidence that the Arrangement has become effective and
that each of the provisions of Article&nbsp;3 has become effective in the sequence set out therein.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;3<BR>
Arrangement</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.1</TD><TD STYLE="text-align: justify">Commencing at the Effective Time, each of the events set out below shall occur and be deemed to
occur in the following sequence, without any further act or formality except as otherwise provided herein:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">Trinidad Shareholder Rights Plan</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Trinidad Shareholder Rights Plan shall terminate and cease to have any further force or effect
and the Trinidad SRP Rights shall expire and be cancelled without any payment in respect thereof.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">Treatment of Trinidad Options</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Each Trinidad Option outstanding immediately prior to the Effective Time (whether vested or unvested),
notwithstanding the terms of the Trinidad Option Plan, shall be deemed to be vested and exercisable, and without any further action
by or on behalf of a Trinidad Optionholder:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Trinidad Option outstanding at the Effective Time that has an exercise price that is less
than the Trinidad Market Price, shall be, and shall be deemed to be, surrendered to Trinidad for cancellation and the holders thereof
shall receive, in respect of each such surrendered Trinidad Option, an amount equal to the amount by which the Trinidad Market
Price exceeds the exercise price thereof (the &quot;<B>Option In-the-Money Amount</B>&quot;), payable in Trinidad Shares, with
the number of Trinidad Shares issuable in payment thereof being equal to the Option In-the-Money-Amount of such Trinidad Options
(less any amount withheld or deducted in accordance with Section 3.3) divided by the Trinidad Market Price;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">no fractional Trinidad Shares will be issued pursuant to Section 3.1(b)(i) and where the aggregate
number of Trinidad Shares issuable to a former Trinidad Optionholder pursuant to Section 3.1(b)(i) would result in a fraction of
a Trinidad Share being issuable, such former Trinidad Optionholder shall receive, in lieu of such fractional share, the nearest
whole number of Trinidad Shares and for greater certainty where such fractional interest is greater than or equal to 0.5, the number
of Trinidad Shares to be issued will be rounded up to the nearest whole number and where such fractional interest is less than
0.5, the number of Trinidad Shares to be issued will be rounded down to the nearest whole number; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">each Trinidad Option outstanding at the Effective Time that has an exercise price that is equal
to or greater than the Trinidad Market Price, shall be, and shall be deemed to be, surrendered to Trinidad for cancellation and
the holders thereof shall receive, in respect of each such surrendered Trinidad Option, a cash payment from Trinidad equal to $0.01,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">and each such Trinidad Option shall be, and shall be deemed
to be cancelled by Trinidad, all of Trinidad&rsquo;s obligations under such Trinidad Options shall be deemed to be fully satisfied
and the holders thereof shall cease to have any rights as Trinidad Optionholders other than the right to receive the consideration
contemplated under this Plan of Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">Treatment of Trinidad SARs</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Each Trinidad SAR outstanding immediately prior to the Effective Time (whether vested or unvested),
notwithstanding the terms of the Trinidad SARs Plan, shall be deemed to be vested and exercisable, and without any further action
by or on behalf of a Trinidad SARholder:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Trinidad SAR outstanding at the Effective Time that has an exercise price that is less than
the Trinidad Closing VWAP, shall be, and shall be deemed to be, exercised and surrendered to Trinidad for cancellation and the
holders thereof shall receive, in respect of each such exercised Trinidad SAR, a cash payment from Trinidad equal to the amount
by which the Trinidad Closing VWAP exceeds the exercise price thereof (less any amount withheld or deducted in accordance with
Section 3.3); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each Trinidad SAR outstanding at the Effective Time that has an exercise price that is equal to
or greater than the Trinidad Closing VWAP, shall be, and shall be deemed to be, surrendered to Trinidad for cancellation and the
holders thereof shall receive, in respect of each such surrendered Trinidad SAR, a cash payment from Trinidad equal to $0.01,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">and each such Trinidad SAR shall be, and shall be deemed
to be cancelled by Trinidad, all of Trinidad&rsquo;s obligations under such Trinidad SARs shall be deemed to be fully satisfied
and the holders thereof shall cease to have any rights as Trinidad SARholders other than the right to receive the consideration
contemplated under this Plan of Arrangement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">Dissenting Shareholders</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Each of the Trinidad Shares held by Dissenting Shareholders shall be, and shall be deemed to be,
transferred by the holders thereof to Trinidad (free and clear of any Encumbrances), and cancelled and such Dissenting Shareholders
shall cease to have any rights as Trinidad Shareholders, other than the right to be paid the fair value of their Trinidad Shares
in accordance with the Dissent Rights, and the names of such holders shall be removed from the register of Trinidad Shareholders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">Acquisition of Trinidad Shares by Precision</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Each issued and outstanding Trinidad Share (including, for greater certainty, the Trinidad Shares
issued pursuant to Section 3.1(b)) held by Trinidad Shareholders (other than those held by Dissenting Shareholders) shall be, and
shall be deemed to be, transferred by the holder thereof to Precision (free and clear of any Encumbrances), in exchange for that
number of fully paid and non-assessable Precision Shares equal to the Trinidad Share Consideration, and:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Trinidad Shareholders shall cease to be the holders of such Trinidad Shares and to have any
rights as holders of such Trinidad Shares other than the right to receive Precision Shares pursuant to this Section 3.1(e) and
the names of such holders shall be removed from the register of Trinidad Shareholders; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Precision shall be deemed to be the transferee, and shall be the sole legal and beneficial owner,
of such Trinidad Shares (free and clear of any Encumbrances).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">3.2</FONT></TD><TD>Securities Registers</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Trinidad and Precision shall make the appropriate entries
in their respective securities registers to reflect the matters referred to in Section 3.1.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">3.3</FONT></TD><TD>Withholding</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Trinidad, Precision and the Depositary shall be entitled
to deduct or withhold from any consideration or amount otherwise payable to any Trinidad Shareholder, any Trinidad Optionholder
or any Trinidad SARholder, as applicable, under this Plan of Arrangement (including, without limitation, any amounts payable pursuant
to Article&nbsp;4 hereof and including by way of deduction from the Option In-the-Money-Amount of Trinidad Options as contemplated
in Section 3.1(b)(i)), such amounts as Trinidad, Precision, or the Depositary, as the case may be, may determine is required or
permitted to deduct and withhold with respect to such payment under the Tax Act, the United States Internal Revenue Code of 1986
or any provision of federal, provincial, territorial, state, local or foreign tax law. To the extent that amounts are so deducted
or withheld, such deducted or withheld amounts shall be treated for all purposes hereof as having been paid to the Trinidad Shareholder,
Trinidad Optionholder or Trinidad SARholder, as applicable, in respect of which such deduction or withholding was made, provided
that such deducted or withheld amounts are actually remitted to the appropriate taxing authority within the time prescribed by
applicable law. To the extent that the amount so required to be deducted or withheld from any payment to a former Trinidad Shareholder,
Trinidad Optionholder or Trinidad SARholder exceeds the cash component, if any, of the consideration otherwise payable to the holder
or has not been deducted from the Option In-the-Money-Amount of Trinidad Options as contemplated in Section 3.1(b)(i), Precision
and the Depositary are hereby authorized to sell or otherwise dispose of such portion of the Precision Shares otherwise issuable
to the holder as is necessary to provide sufficient funds to Precision or the Depositary, as the case may be, to enable it to comply
with such deduction or withholding requirement and Precision or the Depositary shall notify the holder thereof and remit the applicable
portion of the net proceeds of such sale (after deduction of all fees, commissions or costs in respect of such sale) to the appropriate
taxing authority and shall remit to such holder any unapplied balance of the net proceeds of such sale.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">3.4</FONT></TD><TD>U.S. Securities Act Exemption</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">Notwithstanding any provision herein to the contrary,
Precision and Trinidad agree that this Plan of Arrangement will be carried out with the intention that all the persons to whom
the Precision Shares are issued on completion of this Plan of Arrangement will be issued by Precision in reliance on the exemption
from the registration requirements of the United States Securities Act of 1933, as provided by Section 3(a)(10) thereof and pursuant
to exemptions from registration under any applicable state securities laws.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;4<BR>
Dissenting Shareholders</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify">Each registered Trinidad Shareholder shall have the right to dissent with respect to the Arrangement
in accordance with section 191 of the ABCA, as modified by the Interim Order and this Article&nbsp;4, provided that notwithstanding
subsection 191(5) of the ABCA, the written objection to the Arrangement Resolution referred to in subsection 191(5) of the ABCA
must be received by Trinidad from the Dissenting Shareholder not later than 4:00&nbsp;p.m. (Calgary time) on the date that is five
Business Days prior to the date of the Trinidad Meeting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: justify">A Dissenting Shareholder shall, at the Effective Time, cease to have any rights as a holder of
Trinidad Shares (other than as set forth herein) and shall only be entitled to be paid by Trinidad the fair value of the holder&rsquo;s
Trinidad Shares. A Dissenting Shareholder who is entitled to be paid by Trinidad the fair value of such holder&rsquo;s Trinidad
Shares shall, pursuant to Section 3.1(d) hereof, be deemed to have transferred the holder&rsquo;s Trinidad Shares (free and clear
of any Encumbrances) to Trinidad for cancellation without any further act or formality notwithstanding the provisions of section
191 of the ABCA.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: justify">The fair value of the Trinidad Shares shall be determined as of the close of business on the last
Business Day before the day on which the Arrangement Resolution is approved by the Trinidad Securityholders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.4</TD><TD STYLE="text-align: justify">A Dissenting Shareholder who for any reason is not ultimately entitled to be paid the fair value
of such holder&rsquo;s Trinidad Shares shall be deemed to have participated in the Arrangement, as of the Effective Time, on the
same basis as a non-dissenting holder of Trinidad Shares, notwithstanding the provisions of section 191 of the ABCA, and shall
be entitled to receive only the consideration contemplated in Section 3.1(e) of this Plan of Arrangement that such holder would
have received pursuant to the Arrangement if such holder had not exercised Dissent Rights.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.5</TD><TD STYLE="text-align: justify">In no event shall Trinidad or Precision be required to recognize any Dissenting Shareholder as
a Trinidad Shareholder after the Effective Time and the names of such holders shall be removed from the register of Trinidad Shareholders
as at the Effective Time.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.6</TD><TD STYLE="text-align: justify">For greater certainty, in addition to any other restrictions in section 191 of the ABCA, any person
who has voted (including by way of instructing a proxy holder to vote) their Trinidad Shares in favour of the Arrangement Resolution
shall not be entitled to exercise Dissent Rights. In addition, a Dissenting Shareholder may only exercise Dissent Rights in respect
of all, and not less than all, of its Trinidad Shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;5<BR>
Consideration, Certificates And Fractional Shares</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">5.1</FONT></TD><TD>Right to Consideration</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Forthwith following the Effective Time,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Trinidad shall issue and deliver to the registrar and transfer agent of the Trinidad Shares, an
irrevocable treasury order authorizing such registrar and transfer agent to register the aggregate number of Trinidad Shares to
which former holders of Trinidad Options are entitled in accordance with Section 3.1(b)(i) of this Plan of Arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Trinidad shall pay to the former holders of Trinidad Options and Trinidad SARholders the cash consideration
to which they are entitled in accordance with Section 3.1(b)(iii) and Section 3.1(c), respectively, of this Plan of Arrangement;
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Precision shall, subject to Section 5.1(b) of this Plan of Arrangement, issue and deliver to the
Depositary an irrevocable treasury order authorizing the Depositary, as the registrar and transfer agent of the Precision Shares,
to register the aggregate number of Precision Shares to which the former Trinidad Shareholders are entitled in accordance with
Section 3.1(e) of this Plan of Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The Depositary shall deliver the consideration in respect of those Trinidad Shares that were transferred
pursuant to Section 3.1(e) hereof which are held on a book-entry basis in accordance with normal industry practice for payments
relating to securities held on a book-entry only basis. In respect of those Trinidad Shares not held on a book-entry basis, upon
surrender to the Depositary for cancellation of a certificate or certificates (as applicable) which, immediately prior to the Effective
Time, represented outstanding Trinidad Shares that were transferred pursuant to Section 3.1(e) hereof, together with a duly completed
and executed Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, the
holder of such surrendered certificate(s) shall be entitled to receive in exchange therefor, and the Depositary shall deliver to
such holder as directed in the Letter of Transmittal, a certificate representing the Precision Shares which such holder has the
right to receive under this Plan of Arrangement for such Trinidad Shares, less any amounts deducted or withheld pursuant to Section
3.3, and any certificate(s) so surrendered shall forthwith be cancelled.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Until deposited as contemplated by Section 5.1(b) hereof, each certificate that immediately prior
to the Effective Time represented Trinidad Shares to which Section 3.1(e) applies shall be deemed after the Effective Time to represent
only the right to receive, upon such deposit, a certificate representing the Precision Shares which such holder has the right to
receive under this Plan of Arrangement for such Trinidad Shares, less any amounts deducted or withheld pursuant to Section 3.3
hereof. Any such certificate formerly representing Trinidad Shares not duly surrendered on or before the last Business Day prior
to the sixth anniversary of the Effective Date shall cease to represent a claim by or interest of any former Trinidad Shareholder,
of any kind or nature against Trinidad or Precision. On such date, all consideration and other property to which such former Trinidad
Shareholder was entitled shall be deemed to have been surrendered and forfeited for no consideration to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">No Trinidad Shareholder, Trinidad Optionholder or Trinidad SARholder shall be entitled to receive
any consideration with respect to such Trinidad Shares, Trinidad Options or Trinidad SARs, as applicable, other than the consideration
to which such holder is entitled to receive under the Arrangement and, for greater certainty, no such holder will be entitled to
receive any interest, dividend, premium or other payment in connection therewith.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">5.2</FONT></TD><TD>Lost Certificates</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">In the event any certificate which immediately prior to
the Effective Time represented an interest in one or more Trinidad Shares that were transferred pursuant to Section 3.1 of this
Plan of Arrangement has been lost, stolen or destroyed, upon the making of an affidavit of that fact by the person claiming such
certificate to be lost, stolen or destroyed, the Depositary will issue and deliver in exchange for such lost, stolen or destroyed
certificate the consideration to which the holder is entitled pursuant to this Plan of Arrangement. The person who is entitled
to receive such consideration shall, as a condition precedent to the receipt thereof, give a bond satisfactory to Precision and
the Depositary, as the registrar and transfer agent of the Precision Shares, in such form as is satisfactory to Precision and the
Depositary, or otherwise indemnify Trinidad, Precision and the Depositary, to the reasonable satisfaction of such parties, against
any claim that may be made against any of them with respect to the certificate alleged to have been lost, stolen or destroyed.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">5.3</FONT></TD><TD>Fractional Shares</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">No certificates representing fractional Precision Shares
shall be issued under the Arrangement. In lieu of any fractional Precision Shares, a Trinidad Shareholder otherwise entitled to
a fractional interest in Precision Shares shall receive the nearest whole number of Precision Shares, with fractions equal to 0.5
or more being rounded up to the nearest whole number. In calculating such fractional interests, all Trinidad Shares registered
in the name of or beneficially held by such Trinidad Shareholder or their nominee shall be aggregated.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;6<BR>
Amendments</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.1</TD><TD STYLE="text-align: justify">Trinidad and Precision may amend, modify and/or supplement this Plan of Arrangement at any time
and from time to time prior to the Effective Time, provided that each such amendment, modification and/or supplement must be:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">set out in writing;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">approved by both Parties;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">filed with the Court and, if made following the Trinidad Meeting, approved by the Court; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">communicated to Trinidad Shareholders, Trinidad Optionholders and/or Trinidad SARholders, if and
as required by the Court.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.2</TD><TD STYLE="text-align: justify">Any amendment, modification or supplement to this Plan of Arrangement may be proposed by Trinidad
or Precision at any time prior to or at the Trinidad Meeting (provided that the other Party shall have consented thereto, acting
reasonably), with or without any other prior notice or communication, and if so proposed and accepted, in the manner contemplated
and to the extent required by the Arrangement Agreement by the Trinidad Shareholders, Trinidad Optionholders and/or Trinidad SARholders,
shall become part of this Plan of Arrangement for all purposes.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.3</TD><TD STYLE="text-align: justify">Any amendment, modification or supplement to this Plan of Arrangement that is approved or directed
by the Court following the Trinidad Meeting shall be effective only:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">if it is consented to in writing by each of Trinidad and Precision (each acting reasonably); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">if required by the Court or applicable law, it is consented to by the Trinidad Shareholders, Trinidad
Optionholders and/or Trinidad SARholders, voting in a manner directed by the Court.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.4</TD><TD STYLE="text-align: justify">Any amendment, modification or supplement to this Plan of Arrangement may be made following the
Effective Time provided it is consented to in writing by each of Precision and Trinidad, and further provided that it concerns
a matter which, in the reasonable opinion of each of Precision and Trinidad, is of an administrative nature required to better
give effect to the implementation of this Plan of Arrangement and is not adverse to the financial or economic interests of any
former Trinidad Shareholder, Trinidad Optionholder or Trinidad SARholder.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">Article&nbsp;7<BR>
Further Assurances</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Notwithstanding that the transactions and events set out herein
shall occur and shall be deemed to occur in the order set out in this Plan without any further act or formality, each of the Parties
to the Arrangement Agreement shall make, do and execute, or cause to be made, done and executed, all such further acts, deeds,
agreements, transfers, assurances, instruments or documents as may reasonably be required in order to further document or evidence
any of the transactions or events set out herein.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>exh_993.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.3</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">SCHEDULE &ldquo;B&rdquo;<BR>
<BR>
TRINIDAD ARRANGEMENT RESOLUTION</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>BE IT RESOLVED, AS A SPECIAL RESOLUTION, THAT:</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify">The arrangement (the &quot;<B>Arrangement</B>&quot;) under section 193 of the <I>Business Corporations
Act </I>(Alberta) (the &quot;<B>ABCA</B>&quot;) involving Trinidad Drilling Ltd. (&quot;<B>Trinidad</B>&quot;), as more particularly
described and set forth in the joint management information circular of Trinidad and Precision Drilling Corporation (&quot;<B>Precision</B>&quot;)
accompanying the notice of this meeting, as may be modified or amended in accordance with its terms, is hereby authorized, approved
and adopted.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify">The plan of arrangement (the &quot;<B>Plan of Arrangement</B>&quot;) involving Trinidad, the full
text of which is set out as Schedule &quot;A&quot; to the Arrangement Agreement made as of October 5, 2018 (the &quot;<B>Arrangement
Agreement</B>&quot;) between Precision and Trinidad, as may be modified or amended in accordance with its terms, is hereby authorized,
approved and adopted.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify">The Arrangement Agreement, the actions of the directors of Trinidad in approving the Arrangement
Agreement and the actions of the directors and officers of Trinidad in executing and delivering the Arrangement Agreement and any
amendments thereto in accordance with its terms are hereby ratified and approved.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify">Notwithstanding that this resolution has been passed (and the Plan of Arrangement adopted) by the
applicable securityholders of Trinidad (the &quot;<B>Securityholders</B>&quot;) or that the Arrangement has been approved by the
Court of Queen's Bench of Alberta, the directors of Trinidad are hereby authorized and empowered, at their discretion, without
further notice to or approval of the Securityholders: (a) to amend the Arrangement Agreement or the Plan of Arrangement, to the
extent permitted by the Arrangement Agreement or the Plan of Arrangement, and (b) subject to the terms of the Arrangement Agreement,
to disregard the approval of the Securityholders and not proceed with the Arrangement, at any time prior to the issuance of the
Certificate of Arrangement (as defined in the Arrangement Agreement).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify">Any one director or officer of Trinidad is hereby authorized and directed, for and on behalf of
Trinidad, to execute, under the corporate seal of Trinidad or otherwise, and to deliver to the Registrar under the ABCA for filing
Articles of Arrangement and such other documents as are necessary or desirable to give effect to the Arrangement and the Plan of
Arrangement in accordance with the Arrangement Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify">Any one director or officer of Trinidad is hereby authorized and directed, for and on behalf of
Trinidad, to execute, or cause to be executed, under the corporate seal of Trinidad or otherwise, and to deliver, or cause to be
delivered, all such other documents, agreements and instruments and to perform, or cause to be performed, all such other acts and
things as in such director's or officer's opinion may be necessary or desirable to give full effect to the foregoing resolutions
and the matters authorized thereby, such determination to be conclusively evidenced by the execution and delivery of such document,
agreement or instrument or the doing of any such act or thing.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

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<P STYLE="margin: 0; text-align: left"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>exh_994.htm
<DESCRIPTION>EXHIBIT 99.4
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="color: Black"><B>Exhibit 99.4</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="color: Black">SCHEDULE
&ldquo;C&rdquo;<BR>
<BR>
REPRESENTATIONS AND WARRANTIES OF PRECISION</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; text-align: center; text-indent: 0in; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Organization
                                         and Qualification</U>. Each member of the Precision Group has been duly incorporated
                                         or formed, as the case may be, and is validly subsisting under the Applicable Laws of
                                         its jurisdiction of formation and has the requisite power and authority to own its assets
                                         and properties as now owned and to carry on its business as it is now being conducted.
                                         Each member of the Precision Group is duly registered or authorized to conduct its affairs
                                         or do business, as applicable, and is in good standing in each jurisdiction in which
                                         the character of its assets and properties, owned, leased, licensed or otherwise held,
                                         or the nature of its activities makes such registration or authorization necessary, except
                                         where the failure to be so registered or authorized would not, individually or in the
                                         aggregate, have a Material Adverse Effect on Precision. Other than as disclosed by Precision
                                         in writing to Trinidad, the copies of the constating documents of each member of the
                                         Precision Group provided to Trinidad, together with all amendments to date, are accurate
                                         and complete as of the date hereof and have not been amended or superseded.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Authority
                                         Relative to this Agreement</U>. Precision has the requisite corporate power and authority
                                         to execute this Agreement and to carry out its obligations hereunder. The execution and
                                         delivery of this Agreement and the consummation by Precision of the transactions contemplated
                                         by the Arrangement has been duly authorized by Precision Board and no other proceedings
                                         on the part of Precision are necessary to authorize this Agreement, the Arrangement or
                                         the other transactions contemplated herein, other than the approval of the Exchanges,
                                         the approval of the Information Circular by the Precision Board, the approval by the
                                         Precision Shareholders of the Precision Transaction Resolution and such other consents
                                         and approvals as are specifically contemplated in this Agreement. This Agreement has
                                         been duly executed and delivered by Precision and constitutes a legal, valid and binding
                                         obligation of Precision enforceable against it in accordance with its terms, subject
                                         to the qualification that such enforceability may be limited by bankruptcy, insolvency,
                                         fraudulent transfer, reorganization, moratorium and other Applicable Laws of general
                                         application relating to or affecting rights of creditors and that equitable remedies,
                                         including specific performance, are discretionary and may not be ordered.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Subsidiaries,
                                         Joint Ventures and Partnerships</U>. Precision has no subsidiaries, joint ventures or
                                         partnerships, other than those disclosed to Trinidad in writing (collectively, with Precision,
                                         the <B>&quot;Precision Group</B>&quot;). Other than as disclosed to Trinidad in writing,
                                         Precision owns, directly or indirectly, all of the outstanding voting and equity securities
                                         of each of its subsidiaries and Precision and the Precision Group's ownership interest
                                         in each of its joint ventures and partnerships has been disclosed by Precision in writing
                                         to Trinidad. All of the outstanding shares and all other ownership interests in the subsidiaries,
                                         joint ventures or partnerships of Precision are duly authorized, validly issued and fully
                                         paid (where required by the jurisdiction of incorporation) and non-assessable, and other
                                         than as disclosed to Trinidad in writing, all such shares and other ownership interests
                                         held directly or indirectly by Precision, are owned by Precision free and clear of all
                                         Encumbrances (other than Permitted Encumbrances), except pursuant to restrictions on
                                         transfer contained in the constating documents of such subsidiary, joint venture or partnership.
                                         There are no rights of first refusal or similar rights restricting the transfer of Precision
                                         Shares contained in shareholders, partnership, joint venture or similar agreements or
                                         pursuant to existing financing arrangements.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>No Violations</U>.
                                         Except as disclosed by Precision in writing to Trinidad, or as contemplated by this Agreement
                                         and subject to the approval of the Precision Shareholders of the Precision Transaction
                                         Resolution, the approval of the Exchanges, the approval of the Interim Order and Final
                                         Order by the Court, receipt of Regulatory Approvals and compliance with all applicable
                                         corporate, securities, competition and anti-trust laws:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">neither
                                         the execution and delivery of this Agreement by Precision nor the consummation of the
                                         transactions contemplated by the Arrangement nor compliance by Precision with any of
                                         the provisions hereof will:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(A)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">violate,
                                         conflict with, or result in a breach of any provision of, require any consent, approval
                                         or notice under, or constitute a default (or an event which, with notice or lapse of
                                         time or both, would constitute a default) or result in a right of termination or acceleration
                                         under, or result in the creation of any Encumbrance (other than Permitted Encumbrances)
                                         upon any of the properties or assets of the Precision Group or cause any indebtedness
                                         to come due before its stated maturity or cause any credit to cease to be available,
                                         under any of the terms, conditions or provisions of: (1) the articles or by-laws of any
                                         member of the Precision Group; or (2) any note, bond, mortgage, indenture, loan agreement,
                                         deed of trust, agreement, lien, contract or other instrument or obligation to which a
                                         member of the Precision Group is a party or to which it, or any of its properties or
                                         assets, may be subject or by which a member of the Precision Group is bound; or</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(B)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">subject
                                         to compliance with applicable statutes and regulations, violate any judgment, ruling,
                                         order, writ, injunction, determination, award, decree, statute, ordinance, rule or regulation
                                         applicable to a member of the Precision Group or any of its properties or assets,</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1.25in"><FONT STYLE="color: Black">except, in the case of (A),
in respect of Precision's existing credit facility pursuant to which Precision will require the consent of such lender to consummate
the Arrangement and each of clauses&nbsp;(A) and (B) above, for such violations, conflicts, breaches, defaults, terminations,
accelerations or creations of Encumbrances (other than Permitted Encumbrances) which, or any consents, approvals or notices which
if not given or received, would not, individually or in the aggregate, have any Material Adverse Effect on Precision, or significantly
impede the ability of Precision to consummate the transactions contemplated by the Arrangement; or</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 1.25in"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(C)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">cause
                                         the suspension or revocation of any authorization, consent, approval or license currently
                                         in effect which would, individually or in the aggregate, have a Material Adverse Effect
                                         on Precision; and</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">other
                                         than in connection with or in compliance with the provisions of Applicable Laws in relation
                                         to the completion of the Arrangement or which are required to be fulfilled post Arrangement,
                                         and except for the requisite approvals of the Precision Shareholders of the Precision
                                         Transaction Resolution, Governmental Authorities, and the Exchanges and the obtaining
                                         of the Interim Order and the Final Order:</FONT></TD></TR></TABLE>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(A)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">there
                                         is no legal impediment to Precision's consummation of the Arrangement; and</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(B)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         filing or registration with, or authorization, consent or approval of, any domestic or
                                         foreign public body or authority is required of Precision in connection with the consummation
                                         of the Arrangement, except for such filings or registrations which, if not made, or for
                                         such authorizations, consents or approvals which, if not received, would not, individually
                                         or in the aggregate, have a Material Adverse Effect on Precision, or significantly impede
                                         the ability of Precision to consummate the Arrangement; and</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">neither
                                         Precision nor any of its subsidiaries is a transport undertaking within the meaning of
                                         subsection 53.1(1) of the CTA.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Precision
                                         Shares</U>. Precision has reserved and allotted a sufficient number of Precision Shares
                                         as are issuable pursuant to the Arrangement, and, subject to the terms and conditions
                                         of the Arrangement, such Precision Shares will be validly issued as fully paid and non-assessable
                                         to previous holders of Trinidad Shares pursuant to the Arrangement.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Litigation</U>.
                                         Except as disclosed by Precision in writing to Trinidad, there are no claims, actions,
                                         suits, proceedings, investigations, arbitrations, audits, grievances, assessments or
                                         reassessments in existence or pending or, to the knowledge of Precision, threatened,
                                         affecting or that would reasonably be expected to affect the Precision Group or affecting
                                         or that would reasonably be expected to affect any of their respective properties or
                                         assets at law or in equity or before or by any court or Governmental Authority which
                                         claim, action, suit, proceeding, investigation, arbitration, audit, grievance, assessment
                                         or reassessment involves a possibility of any judgment against or liability of any member
                                         of the Precision Group which would reasonably be expected to cause, individually or in
                                         the aggregate, a Material Adverse Change to Precision, or would significantly impede
                                         the ability of Precision to consummate the Arrangement.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Taxes,
                                         etc</U>. Except to the extent that any matter referred to in this Section (g) does not,
                                         and would not reasonably be expected to, have a Material Adverse Effect on Precision:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">each
                                         member of the Precision Group has duly and timely filed all Tax Returns required to be
                                         filed by them prior to the date hereof and all such Tax Returns are complete and correct
                                         in all material respects;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">each
                                         member of the Precision Group has paid on a timely basis all Taxes which are due and
                                         payable, all assessments and reassessments, and all other Taxes due and payable by them
                                         on or before the date hereof, other than those which are being or have been contested
                                         in good faith and in respect of which reserves have been provided in the most recently
                                         published consolidated financial statements of Precision. The Precision Group has provided
                                         adequate accruals in accordance with IFRS in the most recently published consolidated
                                         financial statements of Precision for any Taxes (including related future Taxes) of the
                                         Precision Group for the period covered by such financial statements that have not been
                                         paid whether or not shown as being due on any Tax Returns. Since such publication date,
                                         no material liability in respect of Taxes not reflected in such statements or otherwise
                                         provided for has been assessed, proposed to be assessed, incurred or accrued, other than
                                         in the ordinary course of business;</FONT></TD></TR></TABLE>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">except
                                         as disclosed by Precision in writing to Trinidad, no material deficiencies, litigation,
                                         proposed adjustments or matters in controversy exist or have been asserted with respect
                                         to Taxes of Precision or any of its subsidiaries, and no member of the Precision Group
                                         is a party to any material action or proceeding for assessment or collection of Taxes
                                         and no such event has been asserted or, to the knowledge of Precision, threatened against
                                         any member of the Precision Group or any of their respective assets;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         written claim has been made by any Governmental Authority in a jurisdiction where the
                                         members of the Precision Group do not file Tax Returns that a member of the Precision
                                         Group is or may be subject to Tax by that jurisdiction; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">each
                                         member of the Precision Group has withheld or collected all material amounts required
                                         to be withheld or collected by it on account of Taxes and has remitted all such amounts
                                         to the appropriate Governmental Authority and within the prescribed time when required
                                         by Applicable Law to do so.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(h)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Investment
                                         Canada Act</U>. Precision is not a &quot;non-Canadian&quot; within the meaning of the
                                         Investment Canada Act.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Reporting
                                         Issuer Status</U>. Precision is a &quot;reporting issuer&quot; in each of the Provinces
                                         of Canada and is a &quot;foreign private issuer&quot; within the meaning of the U.S.
                                         Securities Act and is in material compliance with all Applicable Canadian Securities
                                         Laws and U.S. Securities Laws therein and the Precision Shares are listed and posted
                                         for trading on the TSX and NYSE, respectively. Precision is not in default of any material
                                         requirements of Applicable Canadian Securities Laws or applicable U.S. Securities Laws
                                         in such jurisdictions or any rules or regulations of, or agreement with, the TSX and
                                         the NYSE. No delisting, suspension of trading in or cease trading order with respect
                                         to the Precision Shares is pending or, to the knowledge of Precision, threatened or is
                                         expected to be implemented or undertaken and to its knowledge Precision is not subject
                                         to any formal or informal review, enquiry, investigation or other proceeding relating
                                         to any such order or restriction. The documents and information comprising the Precision
                                         Public Record did not at the respective times they were filed with the relevant Securities
                                         Authorities, contain any Misrepresentation, unless such document or information was subsequently
                                         corrected or superseded in the Precision Public Record prior to the date hereof. Precision
                                         has timely filed with the Securities Authorities all material forms, reports, schedules,
                                         statements and other documents required to be filed by Precision with the Securities
                                         Authorities since becoming a &quot;reporting issuer&quot;. Precision has not filed any
                                         confidential material change report that, at the date hereof, remains confidential.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(j)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Capitalization</U>.
                                         As of the date hereof, the authorized capital of Precision consists of an unlimited number
                                         of Precision Shares and an unlimited number of preferred shares, issuable in series.
                                         As of the date hereof, there are issued and outstanding 293,781,836 Precision Shares
                                         and no other shares are issued and outstanding. Other than Precision Options to acquire
                                         up to 10,929,434 Precision Shares, Precision PSUs to acquire up to 3,181,067 Precision
                                         Shares (assuming a payout multiplier of 1.0x) and Precision DSUs to acquire up to 970,502
                                         Precision Shares and there are no options, warrants or other rights, plans agreements
                                         or commitments of any nature whatsoever requiring the issuance, sale or transfer by Precision
                                         of any securities of Precision (including Precision Shares) or any securities convertible
                                         into, or exchangeable or exercisable for, or otherwise evidencing a right to acquire,
                                         any securities of Precision (including Precision Shares). All outstanding Precision Shares
                                         have been duly authorized and validly issued, are fully paid and non-assessable and other
                                         than as disclosed by Precision to Trinidad in writing, are not subject to, nor were they
                                         issued in violation of, any pre-emptive rights and all Precision Shares issuable upon
                                         the exercise of Precision Options, Precision PSUs and Precision DSUs in accordance with
                                         their respective terms thereof will be duly authorized and validly issued as fully paid
                                         and non-assessable and will not be subject to any pre-emptive rights. Other than Precision
                                         Shares, there are no securities of Precision outstanding which have the right to vote
                                         generally (or, except for the Precision Options, Precision PSUs and Precision DSUs, are
                                         exercisable or convertible into or exchangeable for securities having the right to vote
                                         generally) with the Precision Shareholders on any matter.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(k)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>No Orders</U>.
                                         No order, ruling or determination having the effect of suspending the sale of, or ceasing
                                         the trading of, Precision Shares or any other securities of Precision has been issued
                                         by any Governmental Authority and is continuing in effect and no proceedings for that
                                         purpose have been instituted, are pending or, to the knowledge of Precision, are contemplated
                                         or threatened under any Applicable Laws or by any Governmental Authority.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(l)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Equity
                                         Monetization Plans</U>. Other than the Precision Options, Precision PSUs, Precision DSUs
                                         and as disclosed by Precision in writing to Trinidad, there are no outstanding stock
                                         options, restricted or deferred share units, performance share units, stock appreciation
                                         rights, phantom equity, profit sharing plan or any other similar rights, agreements,
                                         arrangements or commitments payable to any director, officer or employee of Precision
                                         and which are based upon the revenue, value, income or any other attribute of Precision.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(m)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Financial
                                         Reports</U>. The Precision Financial Statements, and any interim or annual financial
                                         statements filed by or on behalf of Precision on and after the date hereof with the Securities
                                         Authorities, in compliance, or intended compliance, with any Applicable Laws, were or,
                                         when so filed, will have been prepared in accordance with IFRS (except in the case of
                                         unaudited interim statements, to the extent they may not include footnotes, are subject
                                         to normal year-end adjustments or may be condensed or summary statements), and present
                                         or, when so filed, will present fairly in accordance with IFRS the financial position,
                                         results of operations and changes in financial position of Precision as of the dates
                                         thereof and for the periods indicated therein (subject, in the case of any unaudited
                                         interim financial statements, to normal year-end audit adjustments). Precision does not
                                         intend to correct or restate, nor, to the knowledge of Precision is there any basis for
                                         any correction or restatement of any aspect of the Precision Financial Statements.</FONT></TD></TR></TABLE>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black"></FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(n)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Books
                                         and Records</U>. The financial books, records and accounts of the Precision Group, in
                                         all material respects: (i) have been maintained in accordance with good business practices
                                         on a basis consistent with prior years; (ii) are stated in reasonable detail and accurately
                                         and fairly reflect the material <U>transactions</U> and dispositions of the assets of
                                         the Precision Group; and (iii) accurately and fairly reflect the basis for the Precision
                                         Financial Statements. Other than as disclosed by Precision in writing to Trinidad, the
                                         corporate records and minute books of each member of the Precision Group have been maintained
                                         substantially in compliance with Applicable Laws and are complete and accurate in all
                                         material respects (other than those minutes of the meetings of the Precision Board or
                                         committee thereof which are in draft form), and full access thereto has been provided
                                         to Trinidad.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(o)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Absence
                                         of Undisclosed Liabilities</U>. The Precision Group has no material liabilities of any
                                         nature (matured or unmatured, fixed or contingent), other than:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">those
                                         set forth or adequately provided for in the most recent balance statement of financial
                                         position and associated notes thereto included in the Precision Financial Statements
                                         (the <B>&quot;Precision Balance Sheet</B>&quot;);</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">those
                                         incurred in the ordinary course of business and not required to be set forth in the Precision
                                         Balance Sheet under IFRS;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">those
                                         incurred in the ordinary course of business since the date of the Precision Balance Sheet
                                         and consistent with past practice; and</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">those
                                         incurred in connection with the execution of this Agreement.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(p)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Absence
                                         of Certain Changes or Events</U>. Except for the Arrangement or any action taken in accordance
                                         with this Agreement, since June 30, 2018:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">each
                                         member of the Precision Group has conducted its business only in the ordinary course
                                         of business consistent with past practice;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         liability or obligation of any nature (whether absolute, accrued, contingent or otherwise)
                                         material to Precision has been incurred other than in the ordinary course of business;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">there
                                         has been no Material Adverse Change in respect of Precision; and</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Precision
                                         has not, and to the knowledge of Precision, no director, officer, employee or auditor
                                         of any member of the Precision Group, has received or otherwise had or obtained knowledge
                                         of any fraud, material complaint, allegation, assertion or claim, whether written or
                                         oral, regarding fraud or the accounting or auditing practices, procedures, methodologies
                                         or methods of any member of the Precision Group or its internal accounting controls.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(q)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Registration,
                                         Exemption Orders, Licenses, etc</U>. To the knowledge of Precision, each member of the
                                         Precision Group has obtained and is in compliance with all licenses, permits, certificates,
                                         consents, orders, grants, registrations, recognition orders, exemption relief orders,
                                         no-action relief and other authorizations (including in connection with Environmental
                                         Laws) from any Governmental Authority necessary in connection with its business as it
                                         is now, individually or in the aggregate, being or proposed to be conducted (collectively,
                                         the &quot;<B>Governmental Authorizations</B>&quot;), except where the failure to obtain
                                         or be in compliance could not, individually or in the aggregate, reasonably be expected
                                         to have a Material Adverse Effect on Precision. Such Governmental Authorizations are
                                         in full force and effect in accordance with their terms, and no event has occurred or
                                         circumstance exists that (with or without notice or lapse of time) may constitute or
                                         result in a violation of any such Governmental Authorization, except where the violation
                                         would not, individually or in the aggregate, reasonably be expected to have a Material
                                         Adverse Effect on Precision. No proceedings are pending or, to the knowledge of Precision,
                                         threatened, which could result in the revocation or limitation of any Governmental Authorization,
                                         and all steps have been taken and filings made on a timely basis with respect to each
                                         Governmental Authorization and its renewal, except where the failure to take such steps
                                         and make such filings would not, individually or in the aggregate, reasonably be expected
                                         to have a Material Adverse Effect on Precision.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(r)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Compliance
                                         with Laws</U>. The operations and business of Precision Group is and has been carried
                                         out in compliance with and not in violation of any Applicable Laws, other than non-compliance
                                         or violation which would not, individually or in the aggregate, reasonably be expected
                                         to have a Material Adverse Effect on Precision or would significantly impact the ability
                                         of Precision to consummate the Arrangement, and no member of the Precision Group has
                                         received any notice of any alleged violation of any such Applicable Laws other than where
                                         such notice would not reasonably be expected to have a Material Adverse Effect on Precision
                                         or significantly impact the ability of Precision to consummate the Arrangement.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(s)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Restrictions
                                         on Business Activities</U>. There is no judgment, injunction or order binding upon any
                                         member of the Precision Group that has or could reasonably be expected to have the effect
                                         of prohibiting, restricting or impairing its business or, individually or in the aggregate,
                                         have a Material Adverse Effect on Precision.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(t)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Title</U>.
                                         The Precision Group has good and marketable title to the Precision Assets free and clear
                                         of any Encumbrances, except for Permitted Encumbrances. The Precision Assets currently
                                         owned by the Precision Group include materially all of the property, rights and assets
                                         that the Precision Group has utilized to carry on its business and operations and Precision
                                         is not aware of any defects, failures or impairments in the title of the Precision Group
                                         to the Precision Assets, whether or not an action, suit, proceeding or inquiry is pending
                                         or threatened or whether or not discovered by any third party, which in aggregate, could
                                         reasonably be expected to have a Material Adverse Effect on Precision.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(u)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>No Defaults</U>.
                                         No member of the Precision Group is in default under, and there exists no event, condition
                                         or occurrence which, after notice or lapse of time or both, would constitute such a default
                                         under any Contract to which it is a party or by which it is bound which would, if terminated
                                         or upon exercise of a right made available to a third party solely by a reason of such
                                         a default due to such default, individually or in the aggregate, reasonably be expected
                                         to have a Material Adverse Effect on Precision. No member of the Precision Group is in
                                         violation of any Applicable Laws which violation could reasonably be expected to have
                                         a Material Adverse Effect on Precision.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Environmental</U>.
                                         In respect of the properties which a member of the Precision Group operates and, to the
                                         knowledge of Precision in respect of properties for which a member of the Precision Group
                                         is not the operator, except as disclosed in writing to Trinidad or except to the extent
                                         that any violation or other matter referred to in this Section&nbsp;(v) does not, and
                                         would not reasonably be expected to, have a Material Adverse Effect on Precision:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         member of the Precision Group is in violation of any applicable Environmental Laws;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">each
                                         member of the Precision Group has operated its business at all times and has received,
                                         handled, used, stored, treated, shipped and disposed of all Hazardous Substances in compliance
                                         with Environmental Laws;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">there
                                         have been no spills, releases, deposits or discharges of Hazardous Substances, or wastes
                                         into the earth, subsoil, underground waters, air or into any body of water or any municipal
                                         or other sewer or drain water systems by a member of the Precision Group, or on or underneath
                                         any location which is or was currently or formerly owned, leased or otherwise operated
                                         by a member of the Precision Group, that have not been remediated in compliance with
                                         Environmental Laws;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         orders, directions, directives, demands or notices have been issued and remain outstanding
                                         pursuant to any Environmental Laws relating to the business or assets of a member of
                                         the Precision Group of which such member has notice;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         member of the Precision Group has failed to report to the proper Governmental Authority
                                         the occurrence of any event which is required to be so reported by any Environmental
                                         Law;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">each
                                         member of the Precision Group holds all Environmental Approvals required in connection
                                         with the operation of its business and the ownership and use of the Precision Assets,
                                         all Environmental Approvals are in full force and effect, and no member of the Precision
                                         Group has received any notification pursuant to any Environmental Laws that any work,
                                         repairs, constructions or capital expenditures are required to be made by it as a condition
                                         of continued compliance with any Environmental Laws or Environmental Approvals, or that
                                         any of its Environmental Approvals are about to be reviewed, made subject to limitation
                                         or conditions, revoked, withdrawn or terminated;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(vii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">there
                                         are no pending or, to the knowledge of Precision, threatened claims, liens or Encumbrances
                                         (other than Permitted Encumbrances) resulting from Environmental Laws with respect to
                                         any of the properties of a member of the Precision Group currently or formerly owned,
                                         leased, operated or otherwise used; and</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(viii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">no
                                         member of the Precision Group has assumed, indemnified or retained by contract or operation
                                         of law any losses, expenses, claims, damages or liabilities of any third-party pursuant
                                         to applicable Environmental Laws.</FONT></TD></TR></TABLE>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black"></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(w)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Precision
                                         Material Contracts</U>. Precision has disclosed in writing to Trinidad lists all of the
                                         Contracts, correct, current and complete copies of which have been made available to
                                         Trinidad which are outside of the ordinary course of business, non-industry standard
                                         or are otherwise material to the Precision Group (the <B>&quot;Precision Material Contracts&quot;</B>).
                                         Each of the Precision Material Contracts constitutes a legally valid and binding agreement
                                         of each member of the Precision Group that is party to such Precision Material Contract,
                                         enforceable in accordance with their respective terms and, to the knowledge of Precision,
                                         no party thereto is in default in the observance or performance of any term or obligation
                                         to be performed by it under any such Precision Material Contract or agreement which is
                                         material to the business of the Precision Group and no event has occurred which with
                                         notice or lapse of time or both would directly or indirectly constitute such a default,
                                         in any such case which default or event would reasonably be expected to have a Material
                                         Adverse Effect on the Precision Group.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(x)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Brokers
                                         and Finders</U>. Precision has not retained nor will it retain any financial advisor,
                                         broker, agent or finder or paid or agreed to pay any financial advisor, broker, agent
                                         or finder on account of this Agreement, any transaction contemplated hereby or any transaction
                                         presently ongoing or contemplated, except that RBC Capital Markets has been retained
                                         as Precision's financial advisor in connection with certain matters including the transactions
                                         contemplated hereby.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(y)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Fairness
                                         Opinion</U>. The Precision Board has received an opinion as of October 4, 2018 from RBC
                                         Capital Markets that the Trinidad Share Consideration to be paid under the Arrangement
                                         is fair, from a financial point of view, to Precision.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(z)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Insurance</U>.
                                         Policies of insurance that are in force as of the date hereof naming the applicable members
                                         of the Precision Group as an insured adequately and reasonably cover all risks as are
                                         customarily covered by oilfield services companies in the industry in which the Precision
                                         Group operates and having regard to the nature of the risk insured and the relative cost
                                         of obtaining insurance protect the Precision Group's interests. All such policies shall
                                         remain in force and effect and shall not be cancelled or otherwise terminated as a result
                                         of the transactions contemplated by this Agreement.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(aa)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>No
                                         Limitation</U>. Other than as disclosed by Precision in writing to Trinidad, there is
                                         no non-competition, exclusivity or other similar agreement, commitment or understanding
                                         in place to which any member of the Precision Group is a party or by which it is otherwise
                                         bound that would now or hereafter in any way limit the business or operations of the
                                         Precision Group in a particular manner or to a particular locality or geographic region
                                         or for a limited period of time, and the execution, delivery and performance of this
                                         Agreement does not and will not result in the restriction of any member of the Precision
                                         Group from engaging in its business or from competing with any Person or in any geographic
                                         area.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(bb)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Board
                                         Approval</U>. Based upon, among other things, the advice of its financial and legal advisors,
                                         the Precision Board has unanimously determined that the Arrangement is in the best interests
                                         of Precision and has resolved to unanimously recommend the Precision Shareholders vote
                                         in favour of the Precision Transaction Resolution.</FONT></TD></TR></TABLE>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black"></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(cc)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>No
                                         Guarantees</U>. Other than an indemnification of directors and officers in accordance
                                         with existing indemnification agreements, the by-laws of Precision or Applicable Laws
                                         and other than standard indemnity agreements in underwriting and agency agreements, credit
                                         facilities, transfer agent and registrar agreements, and in the ordinary course provided
                                         to service providers or pursuant to drilling rig operating agreements, drilling rig construction
                                         agreements and similar agreements, no member of the Precision Group has guaranteed, endorsed,
                                         assumed, indemnified or accepted any responsibility for, and does not and will not guarantee,
                                         endorse, assume, indemnify or accept any responsibility for, contingently or otherwise,
                                         any indebtedness or the performance of any obligation of any Person.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(dd)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>No
                                         Encumbrances</U>. Other than as disclosed by Precision in writing to Trinidad, no member
                                         of the Precision Group has encumbered or alienated its interest in the Principal Precision
                                         Assets or agreed to do so and such assets are free and clear of all Encumbrances (other
                                         than Permitted Encumbrances), created by, through or under such member of the Precision
                                         Group, except for those arising in the ordinary course of business, which are not material
                                         in the aggregate.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(ee)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Off-Balance
                                         Sheet Arrangements</U>. Other than as disclosed by Precision in writing to Trinidad,
                                         or on the Precision Public Record, no member of the Precision Group has any &quot;off-balance
                                         sheet arrangements&quot; as such term is defined under IFRS.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(ff)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Absence
                                         of Undisclosed Changes</U>. There has not been any Material Change in the capital, assets,
                                         liabilities or obligations (absolute, accrued, contingent or otherwise) of Precision
                                         on a consolidated basis from the position set forth in the Precision Financial Statements
                                         other than as have been disclosed in the Precision Public Record or by Precision in writing
                                         to Trinidad and Precision has not incurred or suffered a Material Adverse Change since
                                         June&nbsp;30, 2018 and since that date there have been no Material Facts, transactions,
                                         events or occurrences which would have a Material Adverse Effect on the capital, assets,
                                         liabilities or obligations (absolute, accrued, contingent or otherwise), condition (financial
                                         or otherwise) or results of the operations of Precision (taken as a whole) which have
                                         not been disclosed in the Precision Public Record or by Precision in writing to Trinidad.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(gg)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Money
                                         Laundering Laws and Foreign Corrupt Practices.</U></FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">The
                                         operations of Precision, its subsidiaries and affiliates are, and have been conducted
                                         at all times in compliance with the record-keeping and reporting requirements of the
                                         anti-money laundering and anti-terrorism statutes of all applicable jurisdictions, the
                                         rules and regulations thereunder and any related or similar rules, regulations or guidelines,
                                         issued, administered or enforced by any Governmental Authority to which Precision or
                                         its subsidiaries is subject (collectively, the &quot;<B>Money Laundering Laws</B>&quot;),
                                         and no action, suit, proceeding or investigation by or before any Governmental Authority
                                         involving Precision or its subsidiaries with respect to the Money Laundering Laws is
                                         pending or, to the knowledge of Precision, threatened.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black"></FONT></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Neither
                                         Precision nor any of its subsidiaries or affiliates, nor, to the knowledge of Precision,
                                         any of their respective directors, officers, agents, employees, consultants or other
                                         Persons acting on behalf of Precision or any of its subsidiaries has offered or given,
                                         and Precision is not aware of and does not have any knowledge of any Person that has
                                         offered or given on its behalf, anything of value to any official of a Governmental Authority,
                                         any political party or official thereof or any candidate for political office, any customer
                                         or member of any Governmental Authority, or any other Person, in any such case while
                                         knowing or having reason to know that all or a portion of such money or thing of value
                                         may be offered, given or promised, directly or indirectly, for the purpose of any of
                                         the following:</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(A)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">influencing
                                         any action or decision of such Person, in such Person's official capacity, including
                                         a decision to fail to perform such Person's official function;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(B)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">inducing
                                         such Person to use such Person's influence with any Governmental Authority to affect
                                         or influence any act or decision of such Governmental Authority to assist Precision or
                                         any of its subsidiaries in obtaining or retaining business for, with, or directing business
                                         to, any Person or otherwise to obtain or retain an advantage in the course of business;
                                         or</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(C)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">where
                                         such payment would constitute a bribe, rebate, payoff, influence payment, kickback or
                                         illegal or improper payment to assist Precision or any of its subsidiaries in obtaining
                                         or retaining business for, with, or directing business to, any Person.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">There
                                         have been no actions taken by Precision, its subsidiaries and its affiliates or, to the
                                         knowledge of Precision, by any Persons on behalf of Precision or its subsidiaries, that
                                         would cause Precision, its subsidiaries, affiliates or such Persons to be in violation
                                         of the Corruption of Foreign Public Officials Act (Canada), the Foreign Corrupt Practices
                                         Act of 1977 (United States) or any similar legislation in any jurisdiction (collectively,
                                         the &quot;<B>Corruption Acts</B>&quot;) in which Precision and its subsidiaries conduct
                                         their business and to which Precision and its subsidiaries may be subject.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Precision,
                                         its subsidiaries and affiliates have implemented, maintain and enforce an anti-corruption
                                         compliance program.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Precision,
                                         its subsidiaries and affiliates have conducted due diligence on each agent, intermediary,
                                         or other third party representative that interacts with officials of Governmental Authorities
                                         on their behalf.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Precision,
                                         its subsidiaries and affiliates have developed and maintain a system of internal controls
                                         designed to promote and ensure compliance with Corruption Acts.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(vii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">The
                                         financial records of Precision and its subsidiaries have at all times been maintained
                                         in compliance with the Corruption Acts.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black"></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(viii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">There
                                         are no proceedings or investigations under the Corruption Acts pending against Precision,
                                         its subsidiaries or affiliates, nor any of their respective directors, officers, agents,
                                         employees, consultants or other Persons acting on behalf of Precision or any of its subsidiaries
                                         or affiliates, or to the knowledge of Precision, contemplated, threatened against or
                                         affecting, Precision, its subsidiaries or affiliates or any of their respective directors,
                                         officers, agents, employees, consultants or other Persons acting on behalf of Precision
                                         or any of its subsidiaries or affiliates.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(hh)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Sanctions
                                         Legislation.</U></FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Neither
                                         Precision nor any of its subsidiaries, nor, to the knowledge of Precision, any of their
                                         respective directors, officers, agents, employees, consultants or other Persons acting
                                         on behalf of Precision or any of its subsidiaries has been or is currently subject to
                                         and has not breached any economic or financial sanctions or trade embargoes imposed,
                                         authorized, administered or enforced by any Governmental Authority (collectively, &quot;<B>Sanctions</B>&quot;),
                                         or has acted, whether directly or indirectly, in violation of any Sanctions and furthermore
                                         will not take any action, directly or indirectly, in violation of any Sanctions.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black">Neither
                                         Precision nor any of its subsidiaries, nor, to the knowledge of Precision, any of their
                                         respective directors, officers, agents, employees, consultants or other Persons acting
                                         on behalf of Precision or any of its subsidiaries, is aware of or has taken any action,
                                         directly or indirectly, including, but not limited to sales, transactions, contracts,
                                         loans or investments, in any currency, in or with any Person listed in any Sanctions-related
                                         list of designated Persons maintained by any Governmental Authority, any Person operating,
                                         organized or resident in a Sanctioned Country or any Person controlled by such Person
                                         (a &quot;<B>Sanctioned Person</B>&quot;). Neither Precision, its subsidiaries nor any
                                         of their affiliates are owned or affiliated by or with any Sanctioned Person or a government
                                         of a country or territory which is the subject or target of any Sanctions (a &quot;<B>Sanctioned
                                         Country</B>&quot;), and no director, officer, agent, employee, consultant, representative
                                         or affiliate of Precision or any of its subsidiaries is a Sanctioned Person or is employed
                                         by or affiliated with the government, or is resident in, a Sanctioned Country.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><FONT STYLE="color: Black">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: Black"><U>Intellectual
                                         Property.</U> No Intellectual Property that are material are necessary to carry on the
                                         business and operations carried on by the Trinidad Group and no member of the Precision
                                         Group owns, licenses or uses any Intellectual Property that is material to the Precision
                                         Group. To the knowledge of Precision, no member of the Precision Group has received any
                                         written notice or claim challenging a member of the Precision Group with respect to the
                                         validity of, use of or ownership of the processes and technology used by it, and to the
                                         knowledge of Precision, there are no facts upon which such a challenge could reasonably
                                         be made. No employees, other individuals or entities have an interest, beneficial or
                                         otherwise, right, or financial benefit relating to any material Intellectual Property
                                         of the Precision Group.</FONT></TD></TR></TABLE>

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<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0"><FONT STYLE="color: Black"><U>Whistleblower Reporting</U>.
As of the hereof, no Person has reported evidence of a violation of any Applicable Canadian Securities Laws, Corruption Acts,
breach of fiduciary duty or similar violation by Precision's executive officers or directors.</FONT></P>

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<DESCRIPTION>EXHIBIT 99.5
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.5</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">SCHEDULE &ldquo;D&rdquo;<BR>
<BR>
REPRESENTATIONS AND WARRANTIES OF TRINIDAD</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(a)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Organization and Qualification</U></FONT>.
Each member of the Trinidad Group has been duly incorporated or formed, as the case may be, and is validly subsisting under the
Applicable Laws of its jurisdiction of formation and has the requisite power and authority to own its assets and properties as
now owned and to carry on its business as it is now conducted. Each member of the Trinidad Group is duly registered or authorized
to conduct its affairs or do business, as applicable, and is in good standing in each jurisdiction in which the character of its
assets and properties, owned, leased, licensed or otherwise held, or the nature of its activities makes such registration or authorization
necessary, except where the failure to be so registered or authorized would not, individually or in the aggregate, have a Material
Adverse Effect on Trinidad. Copies of the constating documents of each member of the Trinidad Group provided to Precision, together
with all amendments to date, are accurate and complete as of the date hereof and have not been amended or superseded.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(b)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Authority Relative to this Agreement</U></FONT>.
Trinidad has the requisite corporate power and authority to execute this Agreement and to carry out its obligations hereunder.
The execution and delivery of this Agreement and the consummation by Trinidad of the transactions contemplated by the Arrangement
has been duly authorized by the Trinidad Board and, subject to the requisite approval of the Trinidad Securityholders and the obtaining
of the Final Order, no other proceedings on the part of Trinidad are necessary to authorize this Agreement or the Arrangement,
other than the approval of the Information Circular by the Trinidad Board. This Agreement has been duly executed and delivered
by Trinidad and constitutes a legal, valid and binding obligation of Trinidad enforceable against it in accordance with its terms,
subject to the qualification that such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and other Applicable Laws of general application relating to or affecting rights of creditors and that equitable remedies,
including specific performance, are discretionary and may not be ordered.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(c)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Subsidiaries, Joint Ventures and Partnerships</U></FONT>.
Trinidad has no subsidiaries, joint ventures or partnerships, other than those disclosed to Precision in writing (collectively,
with Trinidad, and for certainty, including the TechSub, the <B>&quot;Trinidad Group</B>&quot;). Trinidad owns, directly or indirectly,
all of the outstanding voting and equity securities of each of its subsidiaries and the Trinidad Group's ownership interest in
each of its joint ventures and partnerships has been disclosed by Trinidad in writing to Precision. All of the outstanding shares
and all other ownership interests in the subsidiaries, joint ventures or partnerships of Trinidad are duly authorized, validly
issued and fully paid and non-assessable, and all such shares and other ownership interests held directly or indirectly by Trinidad,
are owned by Trinidad free and clear of all Encumbrances (other than Permitted Encumbrances), except pursuant to restrictions on
transfer contained in the constating documents of such subsidiary, joint venture or partnership. Other than as disclosed by Trinidad
in writing to Precision there are no rights of first refusal or similar rights restricting the transfer of Trinidad Shares contained
in shareholders, partnership, joint venture or similar agreements or pursuant to existing financing arrangements.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(d)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>No Violations</U></FONT>. Except as
disclosed by Trinidad in writing to Precision, or as contemplated by this Agreement and subject to the approval of the Trinidad
Securityholders of the Arrangement, the approval of the Interim Order and the Final Order by the Court, receipt of Regulatory Approvals:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">neither the execution and delivery of this Agreement by Trinidad nor the consummation of the transactions
contemplated by the Arrangement nor compliance by Trinidad with any of the provisions hereof will:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">violate, conflict with, or result in a breach of any provision of, require any consent, approval
or notice under, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default)
or result in a right of termination or acceleration under, or result in the creation of any Encumbrance (other than Permitted Encumbrances)
upon any of the properties or assets of the Trinidad Group or cause any indebtedness to come due before its stated maturity or
cause any credit to cease to be available, under any of the terms, conditions or provisions of: (1) the articles or by-laws of
any member of the Trinidad Group; or (2) any note, bond, mortgage, indenture, loan agreement, deed of trust, agreement, lien, contract
or other instrument or obligation to which a member of the Trinidad Group is a party or to which it, or any of its properties or
assets, may be subject or by which a member of the Trinidad Group is bound; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">subject to compliance with applicable statutes and regulations, violate any judgment, ruling, order,
writ, injunction, determination, award, decree, statute, ordinance, rule or regulation applicable to a member of the Trinidad Group
or any of its properties or assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">except, in the case of (A),
in respect of the Trinidad Bank Facility, the Trinidad Senior Notes and such other agreements as have been identified by Trinidad
to Precision in writing and in the case of each of clauses&nbsp;(A) and (B) above, for such violations, conflicts, breaches, defaults,
terminations, accelerations or creations of Encumbrances (other than Permitted Encumbrances) which, or any consents, approvals
or notices which if not given or received, would not, individually or in the aggregate, have any Material Adverse Effect on Trinidad,
or significantly impede the ability of Trinidad to consummate the transactions contemplated by the Arrangement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">cause the suspension or revocation of any authorization, consent, approval or license currently
in effect which would, individually or in the aggregate, have a Material Adverse Effect on Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">other than in connection with or in compliance with the provisions of Applicable Laws in relation
to the completion of the Arrangement or which are required to be fulfilled post Arrangement, and except for the requisite approvals
of Trinidad Securityholders and the obtaining of the Interim Order and the Final Order:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">there is no legal impediment to Trinidad's consummation of the Arrangement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">no filing or registration with, or authorization, consent or approval of, any domestic or foreign
public body or authority is required of Trinidad in connection with the consummation of the Arrangement, except for such filings
or registrations which, if not made, or for such authorizations, consents or approvals which, if not received, would not, individually
or in the aggregate, have a Material Adverse Effect on Trinidad, or significantly impede the ability of Trinidad to consummate
the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(e)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Litigation</U></FONT>. Except as disclosed
by Trinidad in writing to Precision there are no claims, actions, suits, proceedings, investigations, arbitrations, audits, grievances,
assessments or reassessments in existence or pending or, to the knowledge of Trinidad, threatened, affecting or that would reasonably
be expected to affect the Trinidad Group or affecting or that would reasonably be expected to affect any of their respective properties
or assets at law or in equity or before or by any court or Governmental Authority which claim, action, suit, proceeding, investigation,
arbitration, audit, grievance, assessment or reassessment involves a possibility of any judgment against or liability of any member
of the Trinidad Group which would reasonably be expected to cause, individually or in the aggregate, a Material Adverse Change
to Trinidad, or would significantly impede the ability of Trinidad to consummate the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(f)</TD><TD STYLE="text-align: justify"><U>Bankruptcy and Insolvency</U>. Except as disclosed in writing by Trinidad to Precision, (i)&nbsp;No
action or proceeding has been commenced or filed by or against Trinidad or any of its subsidiaries which seeks or would reasonably
be expected to lead to:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">receivership, bankruptcy, a commercial proposal or similar proceeding of Trinidad or any of its
subsidiaries;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">the adjustment or compromise of claims against Trinidad or any of its subsidiaries; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">the appointment of a trustee, receiver, liquidator, custodian or other similar officer for Trinidad
or any of its subsidiaries or any portion of their assets, and no such action or proceeding has been authorized or is being considered
by or on behalf of Trinidad or any of its subsidiaries.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Neither Trinidad nor any of its subsidiaries:</TD></TR></TABLE>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">has made, or is considering making, an assignment for the benefit of their respective creditors;
or</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">has requested, or is considering requesting, a meeting of its respective creditors to seek a reduction,
compromise, composition or other accommodation with respect to its respective indebtedness.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(g)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Taxes, etc</U></FONT>. Except to the
extent that any matter referred to in this Section&nbsp;(g) does not, and would not reasonably be expected to, have a Material
Adverse Effect on Trinidad:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each member of the Trinidad Group has duly and timely filed all Tax Returns required to be filed
by them prior to the date hereof and all such Tax Returns are complete and correct in all respects;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each member of the Trinidad Group has paid on a timely basis all Taxes which are due and payable,
all assessments and reassessments, and all other Taxes due and payable by them, other than those which are being or have been contested
in good faith and in respect of which adequate reserves have been provided in the most recently published consolidated financial
statements of Trinidad. The Trinidad Group has provided adequate accruals in accordance with IFRS in the most recently published
consolidated financial statements of Trinidad for any Taxes (including related future Taxes) of the Trinidad Group for the period
covered by such financial statements that have not been paid whether or not shown as being due on any Tax Returns. Since such publication
date, no liability in respect of Taxes not reflected in such statements or otherwise provided for has been assessed, proposed to
be assessed, incurred or accrued, other than in the ordinary course of business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">except as disclosed by Trinidad in writing to Precision, no deficiencies, litigation, proposed
adjustments or matters in controversy exist or have been asserted with respect to Taxes of Trinidad or any of its subsidiaries,
and no member of the Trinidad Group is a party to any action or proceeding for assessment or collection of Taxes and no such event
has been asserted or, to the knowledge of Trinidad, threatened against any member of the Trinidad Group or any of their respective
assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">no written claim has been made by any Governmental Authority in a jurisdiction where the members
of the Trinidad Group do not file Tax Returns that a member of the Trinidad Group is or may be subject to Tax by that jurisdiction;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">there are no Encumbrances (other than Permitted Encumbrances) with respect to Taxes upon any of
the Trinidad Assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">each member of the Trinidad Group has withheld or collected all amounts required to be withheld
or collected by it on account of Taxes and has remitted all such amounts to the appropriate Governmental Authority and within the
prescribed time when required by Applicable Law to do so;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify">other than as disclosed by Trinidad in writing to Precision or other than waivers that were filed
solely for the purpose of permitting Trinidad to claim deductions in order to reduce Taxes arising from adjustments to income arising
from assessments or reassessments of Tax for prior taxation years and for which Trinidad has filed objections or appeals in respect
of such amendments or reassessments (the &quot;<B>Protective Waivers</B>&quot;), there are no outstanding agreements extending
or waiving the statutory period of limitations applicable to any claim for, or the period for the collection or assessment or reassessment
of Taxes due from any member of the Trinidad Group for any taxable period and no request for any such waiver or extension is currently
pending. For greater certainty, no Protective Waiver allows the relevant Governmental Authority to assess or reassess additional
Tax in respect of the taxation year to which the Protective Waiver relates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-size: 10pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></FONT></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify">other than as disclosed by Trinidad in writing to Precision, the Trinidad Group has made available
to Precision true, correct and complete copies of all Tax Returns, examination reports and statements of deficiencies by a Taxing
Authority for taxable periods, or transactions consummated, for which the applicable statutory periods of limitations have not
expired;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ix)</TD><TD STYLE="text-align: justify">no member of the Trinidad Group has ever directly or indirectly transferred any property to or
supplied any services to or acquired any property or services from a Person with whom it was not dealing at arm's length (within
the meaning of the ITA) for consideration other than consideration equal to the fair market value of the property or services at
the time of the transfer, supply or acquisition of the property or services;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(x)</TD><TD STYLE="text-align: justify">no member of the Trinidad Group has, at any time, directly or indirectly, transferred any property
or supplied any services to, acquired any property or services from, a Person who is not resident in Canada for purposes of the
ITA and with whom any such member of the Trinidad Group, as the case may be, was not dealing at arm's length (within the meaning
of the ITA) for consideration other than consideration equal to the fair market value of such property or services at the time
of transfer, supply or acquisition, as the case may be, nor has any member of the Trinidad Group been deemed to have done so for
purposes of the ITA; and each member of the Trinidad Group has made or obtained records or documents that meet the requirements
of paragraphs 247(4)(a) to (c) of the ITA, and there are no transactions to which subsection 247(2) or subsection 247(3) of the
ITA may reasonably be expected to apply;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(xi)</TD><TD STYLE="text-align: justify">the Tax attributes of the assets of each member of the Trinidad Group are accurately reflected
in the Tax Returns of the Trinidad Group, as applicable, and have not adversely changed since the date of such Tax Returns, except
to the extent that such attributes have been used in the ordinary course or as a result of completion of any transaction contemplated
by this Agreement including, without limitation, as disclosed by Trinidad in writing to Precision;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(xii)</TD><TD STYLE="text-align: justify">there are no circumstances existing which could result in the application of section 78 or sections
80 to 80.04 of the ITA, or any equivalent provision under provincial Applicable Law, to the Trinidad Group. Other than in the ordinary
course, no member of the Trinidad Group has claimed nor will they claim any reserve under any provision of the ITA or any equivalent
provincial provision, if any amount could be included in the income of the Trinidad Group for any period ending after the Effective
Time;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(xiii)</TD><TD STYLE="text-align: justify">Trinidad is a taxable Canadian corporation as defined in subsection 89(1) of the ITA; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(xiv)</TD><TD STYLE="text-align: justify">Trinidad is not a non-resident of Canada within the meaning of the ITA.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(h)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Reporting Issuer Status</U></FONT>.
Trinidad is a &quot;reporting issuer&quot; in each of the Provinces of Canada and is in material compliance with all Applicable
Canadian Securities Laws therein and the Trinidad Shares are listed and posted for trading on the TSX. Trinidad is not in default
of any material requirements of Applicable Canadian Securities Laws in such jurisdictions or any rules or regulations of, or agreement
with, the TSX. No delisting, suspension of trading in or cease trading order with respect to the Trinidad Shares is pending or,
to the knowledge of Trinidad, threatened or is expected to be implemented or undertaken and to its knowledge Trinidad is not subject
to any formal or informal review, enquiry, investigation or other proceeding relating to any such order or restriction. The documents
and information comprising the Trinidad Public Record did not at the respective times they were filed with the relevant Securities
Authorities, contain any Misrepresentation, unless such document or information was subsequently corrected or superseded in the
Trinidad Public Record prior to the date hereof. Trinidad has timely filed with the Securities Authorities all material forms,
reports, schedules, statements and other documents required to be filed by Trinidad with the Securities Authorities since becoming
a &quot;reporting issuer&quot;. Trinidad has not filed any confidential material change report that, at the date hereof, remains
confidential.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(i)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Capitalization</U></FONT>. As of the
date hereof, the authorized capital of Trinidad consists of an unlimited number of Trinidad Shares and an unlimited number of preferred
shares, issuable in series. As of the date hereof, there are issued and outstanding 273,457,951 Trinidad Shares and no other shares
are issued and outstanding. Other than Trinidad Options to acquire up to 1,897,248 Trinidad Shares and pursuant to rights under
the Trinidad Shareholder Rights Plan, there are no options, warrants or other rights, plans agreements or commitments of any nature
whatsoever requiring the issuance, sale or transfer by Trinidad of any securities of Trinidad (including Trinidad Shares) or any
securities convertible into, or exchangeable or exercisable for, or otherwise evidencing a right to acquire, any securities of
Trinidad (including Trinidad Shares). All outstanding Trinidad Shares have been duly authorized and validly issued, are fully paid
and non-assessable and are not subject to, nor were they issued in violation of, any pre-emptive rights and all Trinidad Shares
issuable upon the exercise of Trinidad Options in accordance with the terms of such options will be duly authorized and validly
issued as fully paid and non-assessable and will not be subject to any pre-emptive rights. Other than the Trinidad Shares, there
are no securities of Trinidad outstanding which have the right to vote generally (or, except for the Trinidad Options, are exercisable
or convertible into or exchangeable for securities having the right to vote generally) with the Trinidad Shareholders on any matter.
To the knowledge of Trinidad, other than the Trinidad Voting Agreements, none of the Trinidad Shares are the subject of any escrow,
voting trust or other similar agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(j)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Equity Monetization Plans</U></FONT>.
Other than the Trinidad Options and Trinidad Incentive Units and as disclosed by Trinidad in writing to Precision, there are no
outstanding stock options, restricted or deferred share units, performance share units, stock appreciation rights, phantom equity,
profit sharing plan or any other similar rights, agreements, arrangements or commitments payable to any director, officer or employee
of Trinidad and which are based upon the revenue, value, income or any other attribute of Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(k)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Financial Reports</U></FONT>. The Trinidad
Financial Statements, and any interim or annual financial statements filed by or on behalf of Trinidad on and after the date hereof
with the Securities Authorities, in compliance, or intended compliance, with any Applicable Laws, were or, when so filed, will
have been prepared in accordance with IFRS (except in the case of unaudited interim statements, to the extent they may not include
footnotes, are subject to normal year-end adjustments or may be condensed or summary statements), and present or, when so filed,
will present fairly in accordance with IFRS the financial position, results of operations and changes in financial position of
Trinidad as of the dates thereof and for the periods indicated therein (subject, in the case of any unaudited interim financial
statements, to normal year-end audit adjustments). Trinidad does not intend to correct or restate, nor, to the knowledge of Trinidad
is there any basis for any correction or restatement of any aspect of the Trinidad Financial Statements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(l)</TD><TD STYLE="text-align: justify"><U>Reportable Disagreements</U>. There has not been a reportable disagreement (within the meaning
of Section&nbsp;4.11 of National Instrument 51-102 &ndash; <I>Continuous Disclosure Obligations</I>) with Trinidad's auditors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(m)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Books and Records</U></FONT>. The financial
books, records and accounts of each member of the Trinidad Group, in all material respects: (i) have been maintained in accordance
with good business practices on a basis consistent with prior years; (ii) are stated in reasonable detail and accurately and fairly
reflect the material transactions and dispositions of the assets of the Trinidad Group; and (iii) accurately and fairly reflect
the basis for the Trinidad Financial Statements. The corporate records and minute books of each member of the Trinidad Group have
been maintained substantially in compliance with Applicable Laws and are complete and accurate in all material respects (other
than those minutes of the meetings of the Trinidad Board or committees thereof which are in draft form or which relate to the strategic
review process announced by Trinidad on February 20, 2018 and matters ancillary thereto), and full access thereto has been provided
to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(n)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Absence of Undisclosed Liabilities</U></FONT>.
The Trinidad Group has no material liabilities of any nature (matured or unmatured, fixed or contingent), other than:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">those set forth or adequately provided for in the most recent statement of financial position and
associated notes thereto included in the Trinidad Financial Statements (the <B>&quot;Trinidad Balance Sheet</B>&quot;);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">those incurred in the ordinary course of business and not required to be set forth in the Trinidad
Balance Sheet under IFRS;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">those incurred in the ordinary course of business since the date of the Trinidad Balance Sheet
and consistent with past practice;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">those incurred in connection with the execution of this Agreement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">as disclosed by Trinidad in writing to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(o)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Absence of Certain Changes or Events</U></FONT>.
Except as disclosed by Trinidad in writing to Precision and except for the Arrangement or any action taken in accordance with this
Agreement, since June 30, 2018:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each member of the Trinidad Group has conducted its business only in the ordinary course of business
consistent with past practice;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">no liability or obligation of any nature (whether absolute, accrued, contingent or otherwise) material
to Trinidad has been incurred other than in the ordinary course of business consistent with past practice;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">other than in accordance with Trinidad's budget as disclosed to Precision, there are no outstanding
authorizations for expenditure pertaining to any of the Trinidad Assets or any other commitments, approvals, authorizations pursuant
to which an expenditure may be required to be made in respect of such Trinidad Assets after June 30, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">there has been no Material Adverse Change in respect of Trinidad; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">Trinidad has not, and to the knowledge of Trinidad, no director, officer, employee, contractor,
consultant or agent or auditor of any member of the Trinidad Group, has received or otherwise had or obtained knowledge of any
fraud, material complaint, allegation, assertion or claim, whether written or oral, regarding fraud or the accounting or auditing
practices, procedures, methodologies or methods of any member of the Trinidad Group or its internal accounting controls.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(p)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Registration, Exemption Orders, Licenses,
etc</U></FONT>. To the knowledge of Trinidad, each member of the Trinidad Group has obtained and is in compliance with all licenses,
permits, certificates, consents, orders, grants, registrations, recognition orders, exemption relief orders, no-action relief and
other authorizations (including in connection with Environmental Laws) from any Governmental Authority necessary in connection
with its business as it is now, individually or in the aggregate, being or proposed to be conducted (collectively, the &quot;<B>Governmental
Authorizations</B>&quot;), except where the failure to obtain or be in compliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect on Trinidad. Such Governmental Authorizations are in full force and effect
in accordance with their terms, and no event has occurred or circumstance exists that (with or without notice or lapse of time)
may constitute or result in a violation of any such Governmental Authorization, except where the violation would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect on Trinidad. No proceedings are pending or, to the
knowledge of Trinidad, threatened, which could result in the revocation or limitation of any Governmental Authorization, and all
steps have been taken and filings made on a timely basis with respect to each Governmental Authorization and its renewal, except
where the failure to take such steps and make such filings would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect on Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(q)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Compliance with Laws</U></FONT>. The
operations and business of the Trinidad Group is and has been carried out in compliance with and not in violation of any Applicable
Laws, other than non-compliance or violation which would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect on Trinidad or would significantly impact the ability of Trinidad to consummate the Arrangement, and
no member of the Trinidad Group has received any notice of any alleged violation of any such Applicable Laws other than where such
notice would not reasonably be expected to have a Material Adverse Effect on Trinidad or significantly impact the ability of Trinidad
to consummate the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(r)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Restrictions on Business Activities</U></FONT>.
There is no judgment, injunction or order binding upon any member of the Trinidad Group that has or could reasonably be expected
to have the effect of prohibiting, restricting or impairing its business or, individually or in the aggregate, have a Material
Adverse Effect on Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(s)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Non-Arm's Length Transactions</U></FONT>.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Except for amounts due as normal salaries and bonuses and in reimbursement of ordinary expenses,
existing employment agreements and existing agreements respecting Trinidad Options and Trinidad Incentive Units there are no Contracts
or other transactions (including with respect to loans or other indebtedness) currently in place between any member of the Trinidad
Group, on the one hand, and: (i) any officer, director or employee of, or consultant of any member of the Trinidad Group; (ii)
any holder of record or beneficial owner of 10% or more of the voting securities of Trinidad; or (iii) any associate or affiliate
of any such Person.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Other than as disclosed by Trinidad
                                         in writing to Precision, no compensation or consideration was or is payable with respect
                                         to TechSub or the deployment of the TechSub Technology to <FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                         current or prior officer or director of Trinidad related to TechSub, TechSub IP, any
                                         other Trinidad Owned IP or TechSub Licenses (or, in each case, the deployment thereof),
                                         other than certain officers of TechSub in their capacity as former stockholders of TechSub,
                                         which have the entitlements disclosed in writing to Precision.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(t)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Title</U></FONT>. The Trinidad Group
has good and marketable title to the Trinidad Assets free and clear of any Encumbrances, except for Permitted Encumbrances. The
Trinidad Assets currently owned by the Trinidad Group include materially all of the property, rights and assets that the Trinidad
Group has utilized to carry on its business and operations and Trinidad is not aware of any defects, failures or impairments in
the title of the Trinidad Group to the Trinidad Assets, whether or not an action, suit, proceeding or inquiry is pending or threatened
or whether or not discovered by any third party, which in aggregate, could reasonably be expected to have a Material Adverse Effect
on Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(u)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Customers and Suppliers</U></FONT>.
Other than as disclosed by Trinidad in writing to Precision, no member of the Trinidad Group has received notice of, and there
is not, to the knowledge of Trinidad, any intention on the part of any principal customer to cease doing business with any member
of the Trinidad Group or to modify or change in any material manner any existing arrangement with the Trinidad Group for the purchase
or supply of any products or services. The relationships of the Trinidad Group with its principal suppliers and customers are satisfactory,
and there are no unresolved disputes with any such supplier or customer. No Contract with any supplier or customer contains terms
under which the execution or performance of this Agreement would give the supplier or customer the right to terminate or adversely
change the terms of that Contract. There has been no termination or cancellation of, and no modification or change in, the business
relationship of the Trinidad Group with any major customer or group of major customers. Trinidad has no reason to believe that
the benefits of any relationship with any of the major customers or suppliers of the Trinidad Group will not continue after the
consummation of the transactions hereunder in substantially the same manner as prior to the date of this Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(v)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>No Defaults</U></FONT>. No member of
the Trinidad Group is in default under, and there exists no event, condition or occurrence which, after notice or lapse of time
or both, would constitute such a default under any Contract to which it is a party or by which it is bound which would, if terminated
or upon exercise of a right made available to a third party solely by a reason of such a default due to such default, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect on Trinidad. No member of the Trinidad Group is in
violation of any Applicable Laws which violation could reasonably be expected to have a Material Adverse Effect on Trinidad.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(w)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Environmental</U></FONT>. In respect
of the properties which a member of the Trinidad Group operates and, to the knowledge of Trinidad in respect of properties for
which a member of the Trinidad Group is not the operator, except to the extent that any violation or other matter referred to in
this Section&nbsp;(w) does not, and would not reasonably be expected to, have a Material Adverse Effect on Trinidad:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">no member of the Trinidad Group is in violation of any applicable Environmental Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">each member of the Trinidad Group has operated its business at all times and has received, handled,
used, stored, treated, shipped and disposed of all Hazardous Substances in compliance with Environmental Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">there have been no spills, releases, deposits or discharges of Hazardous Substances, or wastes
into the earth, subsoil, underground waters, air or into any body of water or any municipal or other sewer or drain water systems
by a member of the Trinidad Group, or on or underneath any location which is or was currently or formerly owned, leased or otherwise
operated by a member of the Trinidad Group, that have not been remediated in compliance with Environmental Laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">no orders, directions, directives, demands or notices have been issued and remain outstanding pursuant
to any Environmental Laws relating to the business or assets of a member of the Trinidad Group of which such member has notice;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">no member of the Trinidad Group has failed to report to the proper Governmental Authority the occurrence
of any event which is required to be so reported by any Environmental Law;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">each member of the Trinidad Group holds all Environmental Approvals required in connection with
the operation of its business and the ownership and use of the Trinidad Assets, all Environmental Approvals are in full force and
effect, and no member of the Trinidad Group has received any notification pursuant to any Environmental Laws that any work, repairs,
constructions or capital expenditures are required to be made by it as a condition of continued compliance with any Environmental
Laws or Environmental Approvals, or that any of its Environmental Approvals are about to be reviewed, made subject to limitation
or conditions, revoked, withdrawn or terminated;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify">there are no pending or, to the knowledge of Trinidad, threatened claims, liens or Encumbrances
(other than Permitted Encumbrances) resulting from Environmental Laws with respect to any of the properties of a member of the
Trinidad Group currently or formerly owned, leased, operated or otherwise used; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify">no member of the Trinidad Group has assumed, indemnified or retained by contract or operation of
law any losses, expenses, claims, damages or liabilities of any third-party pursuant to applicable Environmental Laws.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(x)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Trinidad Material Contracts</U></FONT>.
Trinidad has disclosed in writing to Precision lists all of the Contracts, correct, current and complete copies of which have been
made available to Precision, which are outside of the ordinary course of the business, non-industry standard, relate to indebtedness
for borrowed money or any other material liability or obligation, or are otherwise material to the Trinidad Group (the <B>&quot;Trinidad
Material Contracts</B>&quot;). Each of the Trinidad Material Contracts constitutes a legally valid and binding agreement of each
member of the Trinidad Group that is party to such Trinidad Material Contract, enforceable in accordance with their respective
terms and, to the knowledge of Trinidad, except in respect of the Trinidad Bank Facility and the Trinidad Senior Notes, to the
extent that any indebtedness of Trinidad and its subsidiaries remains outstanding under the Trinidad Bank Facility and Trinidad
Senior Notes following the Effective Time, no party thereto is in default in the observance or performance of any term or obligation
to be performed by it under any such Trinidad Material Contract or agreement which is material to the business of the Trinidad
Group and no event has occurred which with notice or lapse of time or both would directly or indirectly constitute such a default,
in any such case which default or event would reasonably be expected to have a Material Adverse Effect on the Trinidad Group.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(y)</TD><TD STYLE="text-align: justify"><U>Termination Rights Under Material
                                         Contracts. </U>Other than as disclosed in writing to Precision, Trinidad has not received
                                         any written correspondence or verbal communications from a party to a Material Contract
                                         regarding a change of control or sale of Trinidad, any assignment of a Material Contract,
                                         any other Acquisition Proposal, any exercise or potential exercise of termination rights
                                         or exit rights under a Material Contract, any deadlocks or disputes under a Material
                                         Contract, any deployment payments or earnout payments.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(z)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Employee Benefit Plans</U></FONT>.
Trinidad has made available to Precision true, complete and correct copies of each employee benefits plan (collectively, the <B>&quot;Trinidad
Plans</B>&quot;) covering active, former or retired employees of the Trinidad Group, any related trust agreement, annuity or insurance
contract or other funding vehicle, and:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">each Trinidad Plan has been established, funded, invested, maintained and administered in material
compliance with its terms and is, to the extent required by Applicable Laws or contract, fully funded without having any deficit
or unfunded actuarial liability;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">all required employer contributions under any such plans have been made and the applicable funds
have been funded in accordance with the terms thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">each Trinidad Plan that is required or intended to be qualified under Applicable Laws or registered
or approved by a Governmental Authority has been so qualified, registered or approved by the appropriate Governmental Authority,
and to the knowledge of Trinidad, nothing has occurred since the date of the last qualification, registration or approval that
would reasonably be expected to adversely affect, or cause, the appropriate Governmental Authority to revoke such qualification,
registration or approval;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">other than the Trinidad Options and Trinidad Incentive Units, none of the Trinidad Plans provide
for benefit increases or the acceleration of funding obligations that are contingent upon, or will be triggered by the entering
into of this Agreement or the completion of the Arrangement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">to the knowledge of Trinidad, there are no pending or anticipated material claims against or otherwise
involving any of the Trinidad Plans and no suit, action or other litigation (excluding claims for benefits incurred in the ordinary
course of Trinidad Plan activities) has been brought against or with respect to any Trinidad Plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">all material contributions, reserves or premium payments required to be made to the Trinidad Plans
have been made or provided for; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">Trinidad has no obligations for retiree health and life benefits under any Trinidad Plan.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(aa)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Employees</U></FONT>.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Trinidad has disclosed in writing to Precision a complete list of all employees of the Trinidad
Group, including the current salary, incentive compensation, benefits and start date of each employee.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">No trade union, council of trade unions, employee bargaining agency or affiliated bargaining agent
holds bargaining rights with respect to any employees of the Trinidad Group by way of certification, interim certification, voluntary
recognition, designation or successor rights or has applied to have the Trinidad Group declared a related employer or successor
employer pursuant to applicable labour legislation. No member of the Trinidad Group has engaged in any unfair labour practices
and, no strike, lock-out, work stoppage, or other material labour dispute is occurring. To the knowledge of Trinidad, there are
no threatened or pending strikes, work stoppages, picketing, lock-outs, hand-billings, boycotts, slowdowns or similar labour related
disputes pertaining to the Trinidad Group that could reasonably be expected to lead to a material and continuing interruption of
operations of the Trinidad Group at any location. No member of the Trinidad Group has engaged in any closing or lay-off activities
within the past two years that would violate or in any way subject the Trinidad Group to group termination or lay-off requirements
of Applicable Laws.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">No member of the Trinidad Group has recognized any trade union or has any staff association, staff
council, works council or other organisation formed for or arrangements having a similar purpose and no notification to any trade
union, staff association, staff council, works council or other organisation formed for or in respect of any arrangements having
a similar purpose is required by the Trinidad Group for the purpose of consummating the transactions contemplated by this Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(bb)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Employment Agreements</U></FONT>. Except
as disclosed by Trinidad in writing to Precision:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">no member of the Trinidad Group is a party to any written contract of employment: (A) specifying
notice of termination (or pay in lieu thereof) upon termination of employment without cause, other than notice of termination (or
pay in lieu thereof) in accordance with Applicable Laws; or (B) which provides for payments or other benefits occurring on a change
of control of Trinidad, and,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">all executive compensation arrangements are accurately described in Trinidad's information circular
dated March 7, 2018 and have not been modified since March 7, 2018.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(cc)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Brokers and Finders</U></FONT>. Other
than as disclosed by Trinidad in writing to Precision, Trinidad has not retained nor will it retain any financial advisor, broker,
agent or finder or paid or agreed to pay any financial advisor, broker, agent or finder on account of this Agreement, any transaction
contemplated hereby or any transaction presently ongoing or contemplated, except that TD Securities Inc. has been retained as Trinidad's
financial advisor in connection with certain matters including the transactions contemplated hereby. Trinidad has made available
to Precision a true and complete copy of its agreement with TD Securities Inc.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(dd)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Employment and Officer Obligations</U></FONT>.
Other than as disclosed by Trinidad in writing to Precision, there are no existing health plans or pension obligations or other
employment or consulting services agreements, termination, severance and retention plans or policies of any member of the Trinidad
Group and other than as disclosed by Trinidad in writing to Precision, there are no accrued bonuses payable to any present or former
employee, director, officer or consultant of any member of the Trinidad Group.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ee)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Fairness
                                         Opinion</U></FONT>. The Trinidad Board has received a verbal opinion as of October 4,
                                         2018 from TD Securities Inc. that the consideration to be received by Trinidad Shareholders
                                         pursuant to the Arrangement is fair, from a financial point of view, to the Trinidad
                                         Shareholders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ff)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Long Term and Derivative Transactions</U></FONT>.
Except as disclosed by Trinidad in writing to Precision, no member of the Trinidad Group has any obligations or liabilities, direct
or indirect, vested or contingent in respect of any rate swap transactions, basis swaps, forward rate transactions, commodity swaps,
commodity options, equity or equity index swaps, equity or equity index options, bond options, interest rate options, foreign exchange
transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross currency rate swap transactions
or currency options having terms greater than 90 days or any other similar transactions (including any option with respect to any
of such transactions) or any combination of such transactions.</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(gg)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Insurance</U></FONT>. Policies of insurance
that are in force as of the date hereof naming the applicable members of the Trinidad Group as an insured adequately and reasonably
cover all risks as are customarily covered by oilfield services companies in the industry in which the Trinidad Group operates
and having regard to the nature of the risk insured and the relative cost of obtaining insurance protect the Trinidad Group's interests.
All such policies shall remain in force and effect and shall not be cancelled or otherwise terminated as a result of the transactions
contemplated by this Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(hh)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>No Limitation</U></FONT>. Other than
as disclosed by Trinidad in writing to Precision, there is no non-competition, exclusivity or other similar agreement, commitment
or understanding in place to which any member of the Trinidad Group is a party or by which it is otherwise bound that would now
or hereafter in any way limit the business or operations of the Trinidad Group in a particular manner or to a particular locality
or geographic region or for a limited period of time, and the execution, delivery and performance of this Agreement does not and
will not result in the restriction of any member of the Trinidad Group from engaging in its business or from competing with any
Person or in any geographic area.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ii)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Board Approval</U></FONT>. Based upon,
among other things, the opinion of TD Securities Inc., the Trinidad Board has unanimously determined that the Arrangement is fair
to the Trinidad Shareholders, has unanimously determined that the Arrangement is in the best interests of Trinidad and the Trinidad
Shareholders, and has resolved to unanimously recommend the Trinidad Securityholders vote in favour of the Arrangement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(jj)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>No Guarantees</U></FONT>. Trinidad
has disclosed in writing to Precision a list all of the guarantees, indemnities, letters of credit, surety and performance bonds
and other security that any member of the Trinidad Group has outstanding. Other than as disclosed by Trinidad in writing to Precision,
an indemnification of directors and officers in accordance with existing indemnification agreements (which have been made available
to Precision), the by-laws of Trinidad or Applicable Laws and other than standard indemnity agreements in underwriting and agency
agreements, credit facilities, transfer agent and registrar agreements, and in the ordinary course provided to service providers
or pursuant to natural gas delivery agreements, drilling rig operating agreements, drilling rig construction agreements and similar
agreements, no member of the Trinidad Group has guaranteed, endorsed, assumed, indemnified or accepted any responsibility for,
and does not and will not guarantee, endorse, assume, indemnify or accept any responsibility for, contingently or otherwise, any
indebtedness or the performance of any obligation of any Person.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(kk)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Payments to Employees, etc</U></FONT>.
Each member of the Trinidad Group has withheld from each payment made to any of its present or former employees, officers or directors,
or to other persons, all amounts required by law or administrative practice to be withheld by it on account of income taxes, pension
plan contributions, employment insurance premiums, employer health taxes and similar taxes, and levies, and has remitted such withheld
amounts within the required time to the appropriate Governmental Authority or pension plan. Each member of the Trinidad Group has
charged, collected and remitted on a timely basis all sales, goods and services, value-added and other commodity taxes as required
under applicable legislation on any sale, supply or delivery made by it.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ll)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>No Encumbrances</U></FONT>. No member
of the Trinidad Group has encumbered or alienated its interest in the Principal Trinidad Assets or agreed to do so and such assets
are free and clear of all Encumbrances (other than Permitted Encumbrances), created by, through or under such member of the Trinidad
Group, except for those arising in the ordinary course of business, which are not material in the aggregate.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(mm)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Intellectual Property</U></FONT>. No
patents, patent rights, licenses, inventions, copyrights, works, moral rights, software, technology, know-how (including trade
secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), industrial designs,
trademarks, service marks, trade names or other intellectual property (the&nbsp;&quot;<B>Intellectual Property</B>&quot;) that
are material are necessary to carry on the business and operations carried on by the Trinidad Group and no member of the Trinidad
Group owns, licenses or uses any Intellectual Property that is material to the Trinidad Group, other than the Intellectual Property
related to TechSub. To the knowledge of Trinidad, no member of the Trinidad Group has received any written notice or claim challenging
a member of the Trinidad Group with respect to the validity of, use of or ownership of the processes and technology used by it,
and to the knowledge of Trinidad, there are no facts upon which such a challenge could reasonably be made. No employees, other
individuals or entities have an interest, beneficial or otherwise, right, or financial benefit relating to any material Intellectual
Property of the Trinidad Group. To the knowledge of Trinidad, no Intellectual Property of any Person has been, or is, infringed,
misappropriated or otherwise violated in any material manner by the operation of the business of any member of the Trinidad Group,
or by the access, use, practice, enjoyment or exploitation of any Intellectual Property owned or developed by the TechSub (the
&quot;<B>TechSub IP</B>&quot;) or by any other member of the Trinidad Group (together with the TechSub IP, the <B>&quot;Trinidad
Owned IP</B>&quot;). No member of the Trinidad Group has granted any exclusive license under any Trinidad Owned IP. The Trinidad
Group together exclusively owns each item of the material Trinidad Owned IP, free and clear of any Encumbrances other than Permitted
Encumbrances. Trinidad has disclosed in writing each pending application or registration of Trinidad Owned IP that is the subject
of patents, trademarks, domain names, copyrights, industrial designs or analogous protection of record in an official intellectual
property office. Each such registration and application is, to the knowledge of Trinidad, subsisting, valid and enforceable. The
rights of the applicable member of the Trinidad Group in the Intellectual Property of any other Person used in the conduct of the
businesses of each member of the Trinidad Group (the <B>&quot;Trinidad Licensed IP</B>&quot;), along with each member of the Trinidad
Group's rights in the Trinidad Owned IP, will survive without any additional restriction or other change (or cause any breach or
default) after consummation of the transactions contemplated by this Agreement (and for certainty, including the rights of the
TechSub in the ScadaDrill License Agreement dated August 25, 2017 by and between Shell International Exploration and Production
Inc. and TechSub, and in the Copyright Assignment and License Agreement between Shell International Exploration and Production
Inc. and Warrior Technology Services Inc. dated March 1, 2015 (such agreements, the &quot;<B>TechSub Licenses</B>&quot;)). No member
of the Trinidad Group has violated, or is in violation of, or has received any written notice of any default or any event that
with notice or lapse of time, or both, would constitute a default under, any license of Trinidad Licensed IP to which any member
of the Trinidad Group is a party or is bound. Each current and former employee, officer, consultant, contractor or service provider
of a member of the Trinidad Group, who is engaged in developing the TechSub IP known as &quot;Criterion&quot;, any Intellectual
Property that was the subject of the TechSub Sale Agreement and any material Trinidad Owned IP that is software (together, the
<B>&quot;Trinidad Software</B>&quot;) and any other material Trinidad Owned IP has agreed to maintain the confidentiality such
Trinidad Owned IP that is of a confidential nature, and has assigned all of the Intellectual Property arising from such engagement
to the applicable member of the Trinidad Group. To the knowledge of Trinidad, no other Person has infringed, misappropriated or
otherwise violated in any material manner any Trinidad Owned IP. None of the Trinidad Software contains, is derived from, is distributed
with, or is being or was developed using open source software that is licensed under any terms that: (i) impose or could impose
a requirement or condition that any Trinidad Software or a material part thereof: (A) be disclosed or distributed in source code
form; (B) be licensed for the purpose of making modifications or derivative works; or (C) be redistributable at no charge; or (ii)
otherwise impose or could impose any other material limitation, restriction, or condition on the right or ability to use or distribute
any Trinidad Software. At least one member of the Trinidad Group is in possession of the object code and user manuals for all Trinidad
Software, along with the source code and documentation required for effective use thereof. No member of the Trinidad Group has
licensed, distributed, published otherwise disclosed to any other Person, or placed into escrow, or is under obligations to disclose
or provide access to, any source code of any Trinidad Software, and each member of the Trinidad Group has reasonable physical and
electronic security measures to prevent access to and disclosure of such source code. To the knowledge of Trinidad, no Trinidad
Software contains any disabling codes, &quot;back door&quot;, &quot;time bomb&quot;, &quot;Trojan horse&quot;, &quot;worm&quot;,
&quot;drop dead device&quot;, &quot;virus&quot; or other software routines that permit unauthorized access, disablement, modification
or erasure of any Trinidad Software, or data, information, content or other technology of a member of a Trinidad Group or any other
Person.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(nn)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Off-Balance Sheet Arrangements</U></FONT>.
Other than as disclosed by Trinidad in writing to Precision, or on the Trinidad Public Record, no member of the Trinidad Group
has any &quot;off-balance sheet arrangements&quot; as such term is defined under IFRS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(oo)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Absence of Undisclosed Changes</U></FONT>.
There has not been any Material Change in the capital, assets, liabilities or obligations (absolute, accrued, contingent or otherwise)
of Trinidad on a consolidated basis from the position set forth in the Trinidad Financial Statements (other than as have been disclosed
in the Trinidad Public Record or by Trinidad in writing to Precision) and Trinidad has not incurred or suffered a Material Adverse
Change since June 30, 2018 and since that date there have been no Material Facts, transactions, events or occurrences which would
have a Material Adverse Effect on the capital, assets, liabilities or obligations (absolute, accrued, contingent or otherwise),
condition (financial or otherwise) or results of the operations of Trinidad (taken as a whole) which have not been disclosed in
the Trinidad Public Record or by Trinidad in writing to Precision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(pp)</TD><TD STYLE="text-align: justify"><U>Information Systems</U>. All computer hardware and their associated firmware and operating systems,
application software, database engines and processed data, technology infrastructure and other computer systems used in connection
with Trinidad's and any of its subsidiaries' assets, business or operations (collectively, the &quot;<B>Technology</B>&quot;) are
reasonable for conducting the business related thereto except where it would not reasonably be expected to have a Material Adverse
Effect on Trinidad. Trinidad or its subsidiaries own or have validly licensed (and is not in breach of such licenses in any material
respect) such Technology and has put in place reasonable virus protection and security measures in relation to such Technology.
Trinidad and its subsidiaries have reasonable back-up systems and audit procedures and disaster recovery and cybersecurity strategies
in relation to the continued availability of the functionality provided by the Technology.</TD></TR></TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-size: 10pt">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></FONT></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(qq)</TD><TD STYLE="text-align: justify"><U>Money Laundering Laws and Foreign Corrupt Practices.</U></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The operations of Trinidad, its subsidiaries and affiliates are, and have been conducted at all
times in compliance with the record-keeping and reporting requirements of the Money Laundering Laws, and no action, suit, proceeding
or investigation by or before any Governmental Authority involving Trinidad or its subsidiaries with respect to Money Laundering
Laws is pending or, to the knowledge of Trinidad, threatened.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Neither Trinidad nor any of its subsidiaries or affiliates, nor, to the knowledge of Trinidad,
any of their respective directors, officers, agents, employees, consultants or other Persons acting on behalf of Trinidad or any
of its subsidiaries has offered or given, and Trinidad is not aware of and does not have any knowledge of any Person that has offered
or given on its behalf, anything of value to any official of a Governmental Authority, any political party or official thereof
or any candidate for political office, any customer or member of any Governmental Authority, or any other Person, in any such case
while knowing or having reason to know that all or a portion of such money or thing of value may be offered, given or promised,
directly or indirectly, for the purpose of any of the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">influencing any action or decision of such Person, in such Person's official capacity, including
a decision to fail to perform such Person's official function;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">inducing such Person to use such Person's influence with any Governmental Authority to affect or
influence any act or decision of such Governmental Authority to assist Trinidad or any of its subsidiaries in obtaining or retaining
business for, with, or directing business to, any Person or otherwise to obtain or retain an advantage in the course of business;
or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">where such payment would constitute a bribe, rebate, payoff, influence payment, kickback or illegal
or improper payment to assist Trinidad or any of its subsidiaries in obtaining or retaining business for, with, or directing business
to, any Person.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">There have been no actions taken by Trinidad, its subsidiaries and its affiliates or, to the knowledge
of Trinidad, by any Persons on behalf of Trinidad or its subsidiaries, that would cause Trinidad, its subsidiaries, affiliates
or such Persons to be in violation of the Corruption Acts in which Trinidad and its subsidiaries conduct their business and to
which Trinidad and its subsidiaries may be subject.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">Trinidad, its subsidiaries and affiliates have implemented, maintain and enforce an anti-corruption
compliance program.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">Trinidad, its subsidiaries and affiliates have conducted due diligence on each agent, intermediary,
or other third party representative that interacts with officials of Governmental Authorities on their behalf.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">Trinidad, its subsidiaries and affiliates have developed and maintain a system of internal controls
designed to promote and ensure compliance with Corruption Acts.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify">The financial records of Trinidad and its subsidiaries have at all times been maintained in compliance
with the Corruption Acts.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify">There are no proceedings or investigations under the Corruption Acts pending against Trinidad,
its subsidiaries or affiliates, nor any of their respective directors, officers, agents, employees, consultants or other Persons
acting on behalf of Trinidad or any of its subsidiaries or affiliates, or to the knowledge of Trinidad, contemplated, threatened
against or affecting, Trinidad, its subsidiaries or affiliates or any of their respective directors, officers, agents, employees,
consultants or other Persons acting on behalf of Trinidad or any of its subsidiaries or affiliates.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(rr)</TD><TD STYLE="text-align: justify"><U>Sanctions Legislation.</U></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Neither Trinidad nor any of its subsidiaries, nor, to the knowledge of Trinidad, any of their respective
directors, officers, agents, employees, consultants or other Persons acting on behalf of Trinidad or any of its subsidiaries has
been or is currently subject to and has not breached any Sanctions, or has acted, whether directly or indirectly, in violation
of any Sanctions and furthermore will not take any action, directly or indirectly, in violation of any Sanctions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Neither Trinidad nor any of its subsidiaries, nor, to the knowledge of Trinidad, any of their respective
directors, officers, agents, employees, consultants or other Persons acting on behalf of Trinidad or any of its subsidiaries, is
aware of or has taken any action, directly or indirectly, including, but not limited to sales, transactions, contracts, loans or
investments, in any currency, in or with any Sanctioned Person. Neither Trinidad, its subsidiaries nor any of their affiliates
are owned or affiliated by or with any Sanctioned Person or a government of a Sanctioned Country, and no director, officer, agent,
employee, consultant, representative or affiliate of Trinidad or any of its subsidiaries is a Sanctioned Person or is employed
by or affiliated with the government, or is resident in, a Sanctioned Country.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(ss)</TD><TD STYLE="text-align: justify"><U>Whistleblower Reporting.</U> As of the hereof, no Person has reported evidence of a violation
of any Applicable Canadian Securities Laws, Corruption Acts, breach of fiduciary duty or similar violation by Trinidad's officers
or directors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(tt)</TD><TD STYLE="text-align: justify"><U>Trinidad Debt</U>. The Trinidad Debt as at June 30, 2018 did not exceed $60,968,072 and as at
the date hereof does not exceed $114,598,955.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in">(uu)</TD><TD STYLE="text-align: justify"><U>Trinidad Transaction Costs</U>. Trinidad has disclosed in writing to Precision:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Trinidad's <I>bona fide</I> good faith estimate of each component of the Trinidad Transaction Costs
incurred, accrued or billed as of the date hereof; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Trinidad's bona fide good faith estimate of the Trinidad Transaction Costs to be incurred after
the date hereof (without duplication of those included in (i) above) in connection with this Agreement and the Arrangement, including,
without limitation:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">fees and expenses of financial and accounting advisors, printing, mailing, solicitation, proxy
solicitation services and shareholder communication costs, Trinidad Meeting costs, legal fees and disbursements, and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">payments in connection with Trinidad Options and any Trinidad Change of Control Payments.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>exh_996.htm
<DESCRIPTION>EXHIBIT 99.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.6</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM 51-102F3</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>MATERIAL CHANGE REPORT</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: justify"><B>Item 1</B></TD>
    <TD STYLE="width: 88%; text-align: justify"><B>Name and Address of Company</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Precision Drilling Corporation (&ldquo;<B>Precision</B>&rdquo;)</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">800, 525 &ndash; 8th Avenue S.W.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Calgary, Alberta, Canada T2P 1G1</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; color: blue">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 2</B></TD>
    <TD STYLE="text-align: justify"><B>Date of Material Change</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">October 5, 2018. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 3</B></TD>
    <TD STYLE="text-align: justify"><B>News Release</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">A news release reporting the material change was disseminated through the services of Globe Newswire and filed on SEDAR and EDGAR on October 5, 2018. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 4</B></TD>
    <TD STYLE="text-align: justify"><B>Summary of Material Change</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Precision entered into an arrangement agreement dated October 5,
        2018 (the &ldquo;<B>Arrangement Agreement</B>&rdquo;) with Trinidad Drilling Ltd. (&ldquo;<B>Trinidad</B>&rdquo;), pursuant to
        which Precision agreed to acquire all of the issued and outstanding common shares of Trinidad including Trinidad Shares issued
        upon the exercise of Trinidad options prior to the effective date (each, a &ldquo;<B>Trinidad Share</B>&rdquo;) on the basis of
        0.445 of a common share of Precision (each, a &ldquo;<B>Precision Share</B>&rdquo;) for each Trinidad Share held (the &ldquo;<B>Arrangement</B>&rdquo;).</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The full text of the Arrangement Agreement is available on SEDAR
        at www.sedar.com and EDGAR at www.sec.gov under Precision&rsquo;s profile.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 5.1</B></TD>
    <TD>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>Full Description of Material Change</B></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">On October 5, 2018, Precision announced that it had entered into
        the Arrangement Agreement, pursuant to which Precision agreed to acquire all of the issued and outstanding Trinidad Shares on the
        basis of 0.445 of a Precision Share for each Trinidad Share held including Trinidad Shares issued upon the exercise of Trinidad
        options prior to the effective date (the &ldquo;<B>Effective Date</B>&rdquo;) of the Arrangement. Upon completion of the Arrangement,
        existing Precision and Trinidad shareholders (&ldquo;<B>Trinidad Shareholders</B>&rdquo;) will own approximately 71% and 29% of
        Precision, respectively.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors of Precision has unanimously determined,
        having taken into consideration advice from its financial and legal advisors, that the Arrangement is in the best interests of
        Precision and to recommend that the holders of Precision Shares (the &ldquo;<B>Precision Shareholders</B>&rdquo;) vote in favour
        of the issuance of Precision Shares and the election of one Trinidad nominee to the Board of Directors of Precision pursuant to
        the Arrangement Agreement. In addition, Precision has agreed to appoint a second Trinidad nominee to the Board of Directors of
        Precision on the Effective Date.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Board of Directors of Trinidad has unanimously determined, having
        taken into consideration advice from its financial and legal advisors, that the Arrangement is fair to the Trinidad Shareholders,
        is in the best interests of Trinidad and the Trinidad Shareholders and to unanimously recommend that the Trinidad Shareholders
        and the holders of Trinidad options and stock appreciation rights (together with the Trinidad Shareholders, the &ldquo;<B>Trinidad
        Securityholders</B>&rdquo;) vote in favour of the Arrangement.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 12%"></TD>
    <TD STYLE="width: 88%">
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Arrangement Agreement provides for the implementation of the
        Arrangement by means of a plan of arrangement under the <I>Business Corporations Act</I> (Alberta). The Arrangement Agreement contains
        customary representations and warranties of each of Trinidad and Precision, non-solicitation covenants by Trinidad and right to
        match provisions in favour of Precision. Pursuant to the Arrangement Agreement, a non-completion fee of C$20 million will be payable
        by Trinidad in certain circumstances, including if Trinidad enters into an agreement with respect to a Superior Proposal (as defined
        in the Arrangement Agreement), if the Board of Directors of Trinidad withdraws or modifies its recommendation with respect to the
        Arrangement or if any person or group of persons acting jointly and in concert (other than Precision) acquires ownership of more
        than 50% of the Trinidad Shares excluding securities of Trinidad beneficially owned by such acquiring person or by any person acting
        jointly or in concert with such acquiring person. The Arrangement Agreement also contains customary covenants of each of Trinidad
        and Precision relating to, among other things, the operation of their respective businesses prior to the closing of the Arrangement
        and using commercially reasonable efforts to satisfy the conditions precedent to the Arrangement.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The Arrangement will require approval by 66&#8532;% of the votes
        cast by Trinidad Securityholders represented in person or by proxy at a special meeting of Trinidad Securityholders to be called
        to consider the Arrangement (the &ldquo;<B>Trinidad Meeting</B>&rdquo;). The Arrangement will also require approval by the majority
        of votes cast by the Precision Shareholders at a special meeting of Precision Shareholders (the &ldquo;<B>Precision Meeting</B>&rdquo;)
        to be called to consider an ordinary resolution authorizing the issuance of Precision Shares to the Trinidad Shareholders and the
        election of a Trinidad nominee the Board of Directors of Precision (in addition to the Trinidad nominee to be appointed to the
        Board of Directors of Precision) on the Effective Date, in accordance with the terms of the Arrangement Agreement.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">All directors and senior officers of each of Trinidad and Precision
        have entered into voting support agreements, pursuant to which they have agreed, among other things, to vote their shares in favour
        of the Arrangement, subject to certain permitted exceptions.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In addition to the approval of the Trinidad Securityholders and
        the Precision Shareholders, the Arrangement will be subject to court and regulatory approvals (including <I>Competition Act </I>(Canada),
        United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 and approval of the TSX and the New York Stock Exchange for
        the issuance of Precision Shares pursuant to the Arrangement) and the satisfaction of customary conditions for a transaction of
        this nature.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A joint management information circular regarding the Arrangement
        is expected to be mailed to Trinidad Securityholders and Precision Shareholders in November 2018 to seek their approval of the
        Arrangement, with each of the Trinidad Meeting and the Precision Meeting expected to take place prior to or on December 13, 2018.
        Closing of the Arrangement is expected to occur in late 2018, subject to receipt of all regulatory approvals.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 5.2</B></TD>
    <TD STYLE="text-align: justify"><B>Disclosure For Restructuring Transactions </B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Not applicable. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 6</B></TD>
    <TD STYLE="text-align: justify"><B>Reliance of Section 7.1(2) of National Instrument 51-102</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Not applicable. </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 12%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 88%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 7</B></TD>
    <TD STYLE="text-align: justify"><B>Omitted Information</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Not applicable. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 8</B></TD>
    <TD STYLE="text-align: justify"><B>Executive Officers</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">For more information, please contact:</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Carey Ford, CFA</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Senior Vice President and Chief Financial Officer</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">713.435.6111</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Ashley Connolly, CFA</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Manager, Investor Relations</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">403.716.4725</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>Item 9</B></TD>
    <TD STYLE="text-align: justify"><B>Date of Report</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">October 11, 2018. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>Cautionary Note Regarding Forward-Looking Statements</B></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">This material change report contains certain statements that constitute
        &ldquo;forward-looking information&rdquo; within the meaning of applicable Canadian securities legislation and &ldquo;forward-looking
        statements&rdquo; within the meaning of the &ldquo;safe harbor&rdquo; provisions of the United States Private Securities Litigation
        Reform Act of 1995 (collectively, &ldquo;forward-looking information and statements&rdquo;) including, but not limited to, the
        proposed acquisition of Trinidad by Precision pursuant to a plan of arrangement, the mailing of a joint management information
        circular regarding the Arrangement, the dates of the Trinidad Meeting and the Precision Meeting, the estimated value of the exchange
        ratio of Precision Shares to be issued for Trinidad Shares, the post-Arrangement ownership percentage in Precision of Trinidad&rsquo;s
        existing shareholders and the completion of the Arrangement. Forward-looking information and statements typically contains statements
        with words such as &ldquo;intend&rdquo;, &ldquo;target&rdquo;, &ldquo;anticipate&rdquo;, &ldquo;plan&rdquo;, &ldquo;estimate&rdquo;,
        &ldquo;expect&rdquo;, &ldquo;potential&rdquo;, &ldquo;could&rdquo;, &ldquo;will&rdquo;, or similar words suggesting future outcomes.
        All of the forward-looking information and statements in this material change report are qualified by the assumptions that are
        stated or inherent in such forward-looking information and statements. Although Precision believes these assumptions are reasonable,
        they are not exhaustive of the factors that may affect any of the forward-looking information and statements and the reader should
        not place undue reliance on these assumptions and such forward-looking information and statements. The key assumptions that have
        been made in connection with the forward-looking statements include: that the business of the Trinidad Meeting and the Precision
        Meeting concludes as anticipated; the timing and receipt of the necessary shareholder, regulatory, court and other approvals; and
        the timely satisfaction of all other conditions to the closing of the Arrangement. Precision believes the material factors, expectations
        and assumptions reflected in the forward-looking information and statements are reasonable, but no assurance can be given that
        these factors, expectations and assumptions will prove to be correct.</P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>
        <P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The forward-looking information and statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results and achievements to differ materially from those expressed or implied by such statements. Although Precision believes the expectations conveyed by the forward-looking information and statements are reasonable based on the information available on the date of such forward-looking information and statements were made, no assurances can be given as to future results and achievements. There is no guarantee that the Arrangement will be completed on the announced terms or at all. Additional information on these and other factors that could affect Precision&rsquo;s business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision&rsquo;s Annual Information Form for the year ended December 31, 2017, which may be accessed on Precision&rsquo;s SEDAR profile at www.sedar.com or under Precision&rsquo;s EDGAR profile at www.sec.gov. Undue reliance should not be placed on the forward-looking information and statements contained herein, which are made as of the date hereof and, except as required by law, Precision undertakes no obligation to update publicly or revise any forward-looking information and statements, whether as a result of new information, future events or otherwise. The forward-looking information and statements contained herein are expressly qualified by this cautionary statement.</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">None of the securities anticipated to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the &ldquo;<B>U.S. Securities Act</B>&rdquo;), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This material change report does not constitute an offer to sell or the solicitation of an offer to buy any securities.</P>




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