Precision Drilling Trust and Grey Wolf, Inc. Announce Status of HSR Filing in the U.S.
30 Settembre 2008 - 3:00PM
Business Wire
Precision Drilling Trust (�Precision�) (TSX:PD.UN) (NYSE:PDS) and
Grey Wolf, Inc. (�Grey Wolf�) (AMEX:GW) announced today that the
Federal Trade Commission has completed its review of the proposed
acquisition by Precision of Grey Wolf and has granted early
termination of the Hart-Scott-Rodino (�HSR�) waiting period,
effective September 26, 2008. Termination of the HSR waiting period
satisfies one of the conditions to completion of the merger between
Precision and Grey Wolf. Completion of the merger is also subject
to approval of the merger agreement by Grey Wolf shareholders,
receipt of other regulatory approvals and satisfaction of other
closing conditions set forth in the merger agreement. About
Precision Precision is a leading provider of safe, high performance
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 is headquartered in Calgary,
Alberta, Canada. Precision 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�. For more information about
Precision, go to http://www.precisiondrilling.com. About Grey Wolf
Grey Wolf is a leading provider of turnkey and contract oil and gas
land drilling services in the United States. Grey Wolf operates
from divisions in South Texas, Gulf Coast, Ark-La-Tex,
Mississippi/Alabama, Mid-Continent, Rocky Mountain regions, and
Mexico. Grey Wolf is headquartered in Houston, Texas, USA. Grey
Wolf, Inc. is listed on the American Stock Exchange under the
trading symbol �GW�. For more information about Grey Wolf, go to
http://www.gwdrilling.com. For further information please contact:
Precision Drilling Corporation � � � � � Grey Wolf, Inc. Kevin
Neveu Chief Executive Officer David W. Wehlmann Executive Vice
President and Chief Financial Officer Doug Strong Chief Financial
Officer � Telephone: 403-716-4500 Telephone: 713-435-6100 Fax:
403-264-0251 Fax: 713-435-6171 4200, 150 - 6th Avenue S.W. Calgary,
Alberta T2P 3Y7 10370 Richmond Ave, Suite 600 Houston, TX 77042
Additional Information and Where to Find It In connection with the
proposed merger, Precision has filed a registration statement,
which includes a proxy statement of Grey Wolf with the Securities
and Exchange Commission. INVESTORS AND SECURITY HOLDERS OF GREY
WOLF ARE URGED TO CAREFULLY READ IN THEIR ENTIRETY THE REGISTRATION
STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND OTHER MATERIALS
REGARDING THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE,
BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT GREY WOLF,
PRECISION, PRECISION LOBOS CORPORATION, A WHOLLY-OWNED SUBSIDIARY
OF PRECISION CREATED AS A SPECIAL PURPOSE VEHICLE, AND THE PROPOSED
MERGER. Prospective investors and security holders may obtain a
free copy of the registration statement and the proxy
statement/prospectus and other documents containing information
about Grey Wolf and Precision, without charge, at the SEC�s web
site at www.sec.gov, at Precision�s web site at
www.precisiondrilling.com, and at Grey Wolf�s web site at
www.gwdrilling.com. Copies of the registration statement and the
proxy statement/prospectus and the SEC filings that will be
incorporated by reference therein may also be obtained for free by
directing a request to either Investor Relations, Precision
Drilling Trust, (403) 716-4500 or to Investor Relations, Grey Wolf,
Inc., (713) 435-6100. Participants in the Solicitation Grey Wolf
and Precision and their respective directors, officers, trustees
and other persons may be deemed to be participants in the
solicitation of proxies from Grey Wolf�s shareholders in respect of
the proposed merger. Information about the directors and executive
officers of Grey Wolf and their ownership of Grey Wolf common stock
can be found in Precision�s registration statement on Form F-4
filed with the SEC on September 25, 2008 (the �Form F-4�).
Information concerning the directors and executive officers of
Precision is included in the Form F-4. Additional information
regarding the identity of potential participants in the
solicitation of proxies in respect of the proposed merger and a
description of their direct and indirect interests, by security
holdings or otherwise, is included in the Form F-4.
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