CALGARY, March 29 /CNW/ - The Trustees of Precision Drilling Trust
("Precision") have approved the adoption of a distribution reinvestment plan
(the "Plan") for holders of trust units of Precision ("Unitholders"). The Plan
is effective for distributions declared after March 31, 2006.
The Plan provides eligible Unitholders with the option to reinvest the
monthly cash distributions and acquire additional units of Precision at an
average market price as determined under the Plan. Units distributed pursuant
to the Plan will be acquired by Computershare Trust Company of Canada from
treasury, or at the discretion of Precision Drilling Corporation,
administrator of Precision, through the facilities of the Toronto Stock
Exchange. No brokerage fees or commissions are payable by participants
enrolled in the Plan, however, Unitholders should make inquiries with their
broker, investment dealer or financial institution through which their units
are held to confirm their individual fee policies.
The Plan is presently available to Canadian resident Unitholders.
Unitholders who are not residents of Canada or who hold Class B Limited
Partnership Units of Precision Drilling Limited Partnership are not eligible
to enroll in the Plan.
A copy of the Plan is available on Precision's website at
www.precisiondrilling.com and detailed information regarding enrolment in the
Plan can be obtained from Computershare Trust Company of Canada, 9th Floor,
100 University Avenue, Toronto, Ontario M5J 2Y1, Attention: Distribution
Reinvestment Department, Telephone: 1-800-564-6253. Unitholders should
carefully read the complete text of the Plan before making any decisions
regarding their participation in the Plan.
Precision Drilling Trust is Canada's largest energy services trust.
Headquartered in Calgary, Alberta, Precision is 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 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".
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