Precision Drilling Trust Announces Final Merger Consideration Election Results
31 Dicembre 2008 - 1:12AM
Marketwired
On December 23, 2008, Precision Drilling Trust ("Precision")
announced the successful completion of its acquisition of Grey
Wolf, Inc. ("Grey Wolf") and the preliminary merger consideration
election results.
Final tabulation of the merger consideration elections has now
been completed, and the cash merger consideration elections
substantially exceeded the amount of cash available for cash
elections. Accordingly, former Grey Wolf shareholders who properly
chose to receive all-cash merger consideration will receive a
prorated amount of cash consideration in the amount of US$5.39 and
0.1700 of a Precision trust unit for each share of Grey Wolf common
stock, while Grey Wolf shareholders who chose to receive Precision
trust units or who did not make a timely and valid merger
consideration election will receive 0.4225 of a Precision trust
unit for each share of Grey Wolf common stock.
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".
Contacts: Doug Strong, Chief Financial Officer Precision
Drilling Corporation, Administrator of Precision Drilling Trust
(403) 716-4500 (403) 264-0251 (FAX) Precision Drilling Corporation
4200, 150 - 6th Avenue S.W. Calgary, Alberta T2P 3Y7 Website:
www.precisiondrilling.com David Wehlmann Executive Vice President,
Investor Relations Precision Drilling Oilfield Services Corporation
(713) 435-6100 (713) 435-6171 (FAX) Precision Drilling Oilfield
Services Corporation Suite 600, 10370 Richmond Avenue Houston,
Texas 77042-4136
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