Precision Drilling Corporation commences consideration of conversion to an Income Trust
15 Giugno 2005 - 10:49PM
PR Newswire (US)
Precision Drilling Corporation commences consideration of
conversion to an Income Trust CALGARY, June 15
/PRNewswire-FirstCall/ -- Precision Drilling Corporation
("Precision") announces that it is undertaking an examination of
the available strategic alternatives with respect to its Canadian
contract drilling, service rig, snubbing, rentals, and related
services businesses, including determining the viability and method
of conversion to an income trust. Although the Board of Directors
has not made any decision with respect to any specific course of
action at this time, it has retained the appropriate accounting,
financial, legal and tax advisors to assist it in identifying and
assessing issues pertaining to a conversion to an income trust and
to report back to the Board of Directors as soon as reasonably
possible. Any conversion alternatives available to Precision will
be subject to review by, and approval of the Board of Directors and
will also be subject to receipt of all required shareholder and
regulatory approvals. In addition, Precision is examining strategic
alternatives with respect to its industrial and plant maintenance
business. DATASOURCE: Precision Drilling Corporation CONTACT: Jan
M. Campbell, Corporate Secretary, 4200, 150 - 6th Avenue S.W.,
Calgary, Alberta T2P 3Y7, Telephone (403) 716-4500, Fax (403)
264-0251, website: http://www.precisiondrilling.com/.; Archived
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