Precision Drilling Trust announces initial trust distribution
18 Novembre 2005 - 5:17PM
PR Newswire (US)
CALGARY, Nov. 18 /PRNewswire-FirstCall/ -- The Trustees of
Precision Drilling Trust ("Precision") announced today that a
distribution of Cdn$ 0.27 per trust unit of Precision has been
declared for the month of November, 2005. The distribution will be
paid on December 15, 2005 to unitholders of record as at November
30, 2005. A payment of Cdn$ 0.27 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.
The distribution of Cdn$ 0.27 is an increase from the estimated
Cdn$ 0.24 distribution in the information circular distributed to
shareholders of Precision Drilling Corporation for the special
meeting approving the reorganization into an income trust.
Management comments that, continuing with the momentum established
in the third quarter, Precision is now at the mid-point of the
fourth quarter with demand for services ramping up to unprecedented
"early-winter" industry levels. Precision Drilling Trust is
Canada's largest energy services trust. Headquartered in Calgary,
Alberta, Precision is the leading provider of contract drilling
services to the Canadian oil and gas industry. Precision provides
customers with access to an extensive fleet of drilling and service
rigs backed by a comprehensive mix of support services utilizing
skilled and experienced personnel. Precision 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". DATASOURCE: Precision Drilling Trust CONTACT: Doug
Strong, Chief Financial Officer of Precision Drilling Corporation,
Administrator of Precision, 4200, 150 - 6th Avenue S.W., Calgary,
Alberta T2P 3Y7, Telephone (403) 716-4500, Fax (403) 264-0251;
website: http://www.precisiondrilling.com/; Archived images on this
organization are searchable through CNW Photo Archive website at
http://photos.newswire.ca/. Images are free to accredited members
of the media. To request a free copy of this organization's annual
report, please go to http://www.newswire.ca/ and click on Tools for
Investors.
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