Precision Drilling Trust Completes Conversion to Corporation

Abstract

Precision Drilling Corporation ("Precision" or the "Corporation") is pleased to announce the completion of the previously announced reorganization of Precision Drilling Trust (the "Trust") to a corporation (the "Conversion"). Pursuant to the Conversion, all outstanding units of the Trust and all outstanding exchangeable units of Precision Drilling Limited Partnership were exchanged for common shares of the Corporation on a one-for-one basis.