Precision Drilling Trust

Precision Drilling Trust

November 20, 2006 13:23 ET

Precision Drilling Trust Confirms November 2006 Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - Nov. 20, 2006) -

Precision Drilling Trust ("Precision") confirms today that the cash distribution for the month of November 2006 will be Cdn$0.31 per trust unit of Precision. The distribution will be payable on December 15, 2006 to unitholders of record on November 30, 2006. The ex-distribution date is November 28, 2006. A payment of Cdn$0.31 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.

An announcement of any special distribution entitlement for 2006, pursuant to the Declaration of Trust, will be made by December 18, 2006.

A Distribution Reinvestment Plan (the "Plan") is available for Canadian resident holders of trust units of Precision. A copy of the Plan is available on Precision's website at and detailed information regarding enrollment in the Plan can be obtained from Computershare Trust Company of Canada at 1-800-564-6253 for registered unitholders. Non-registered unitholders should contact their individual investment agent or broker.

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 in U.S. dollars "PD.U" 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 Trust
    4200, 150 - 6th Avenue S.W.
    Calgary, Alberta, Canada T2P 3Y7