Precision Drilling Trust

Precision Drilling Trust

March 20, 2007 13:56 ET

Precision Drilling Trust Announces March 2007 Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - March 20, 2007) -

(Canadian dollars)

Precision Drilling Trust Precision") announced today that the Board of Trustees has approved a cash distribution for the month of March 2007 of $0.19 per trust unit of Precision. The distribution will be payable on April 17, 2007 to unitholders of record on March 30, 2007. The ex-distribution date is March 28, 2007. A cash payment of $0.19 per unit will also be made to holders of Class B limited partnership units of Precision Drilling Limited Partnership using the same record date and payment date.

As previously announced, the Distribution Reinvestment Plan has been suspended until further notice.

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

Precision Drilling Trust is listed on the Toronto Stock Exchange under the trading symbol "PD.UN" and on the New York Stock Exchange under the trading symbol "PDS".

Contact Information

  • Doug Strong, Chief Financial Officer of
    Precision Drilling Corporation, Administrator of the Trust
    (403) 716-4500
    (403) 264-0251 (FAX)
    Precision Drilling Corporation
    4200, 150 - 6th Avenue S.W.
    (403) 716-4500
    (403) 264-0251 (FAX)