Precision Drilling Trust Announces November 2007 Cash Distribution
20 Novembre 2007 - 6:17PM
Marketwired
CALGARY, ALBERTA
Precision Drilling Trust ("Precision") announced today that the
Board of Trustees has approved a cash distribution for the month of
November 2007 of $0.13 per trust unit of Precision. The
distribution will be payable on December 18, 2007 to unitholders of
record on November 30, 2007. The ex-distribution date is November
28, 2007. A cash payment of $0.13 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.
Consistent with prior years, it is likely that a special
year-end distribution will be declared for 2007. This special
distribution will be announced by December 20, 2007 to effectively
flow the Trust's taxable income to unitholders pursuant to the
Declaration of Trust.
Cautionary Statement Regarding Forward-Looking Information and
Statements
Certain statements contained in this news release, including
statements related to a special year-end distribution by the Trust
and statements that contain words such as "likely", "could",
"should", "can", "anticipates", "expect", "believe", "will", "may"
and similar expressions and statements relating to matters that are
not historical facts constitute "forward-looking information"
within the meaning of applicable Canadian securities legislation
and "forward-looking statements" within the meaning of the "safe
harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995.
These statements are based on certain assumptions and analysis
made by the Trust in light of its experience and its perception of
historical trends, current conditions and expected future
developments as well as other factors it believes are appropriate
in the circumstances. However, whether actual results, performance
or achievements will conform to the Trust's expectations and
predictions is subject to a number of known and unknown risks and
uncertainties which could cause actual results to differ materially
from the Trust's expectations. Such risks and uncertainties
include, but are not limited to: fluctuations in the price and
demand for oil and natural gas; fluctuations in the level of oil
and natural gas exploration and development activities;
fluctuations in the demand for well servicing, contract drilling
and ancillary oilfield services; the effects of weather conditions
on operations and facilities; the existence of competitive
operating risks inherent in well servicing, contract drilling and
ancillary oilfield services; general economic, market or business
conditions; changes in laws or regulations, including taxation,
environmental and currency regulations; availability of qualified
personnel or management; and other unforeseen conditions which
could impact on the use of services supplied by Precision.
Consequently, all of the forward-looking information and
statements made in this news release are qualified by these
cautionary statements and there can be no assurance that the actual
results or developments anticipated by the Trust will be realized
or, even if substantially realized, that they will have the
expected consequences to or effects on the Trust or its business or
operations. Except as may be required by law, the Trust assumes no
obligation to update publicly any such forward-looking information
and statements, whether as a result of new information, future
events or otherwise.
Precision is Canada's largest energy services trust and a
leading provider of energy services to the North American 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".
Contacts: 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 T2P 3Y7 Website:
www.precisiondrilling.com
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