Precision Drilling Trust Confirms September 2006 Cash Distribution

Precision Drilling Trust Confirms September 2006 Cash Distribution

Precision Drilling Trust (“Precision”) confirms today that the cash distribution for the month of September 2006 will be Cdn$0.31 per trust unit of Precision. The distribution will be payable on October 17, 2006 to unitholders of record on September 29, 2006. The ex-distribution date is September 27, 2006. A payment of Cdn$0.31 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.

A Distribution Reinvestment Plan (the “Plan”) is available for Canadian resident holders of trust units of Precision. A copy of the Plan is available on Precision’s website at and detailed information regarding enrollment in the Plan can be obtained from Computershare Trust Company of Canada at 1-800-564-6253 for registered unitholders. Non-registered unitholders should contact their individual investment agent or broker.

Precision Drilling Trust is Canada’s largest energy services trust. Headquartered in Calgary, Alberta, Precision is the leading provider of energy services to the Canadian 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 listed on the Toronto Stock Exchange under the trading symbol “PD.UN” and in U.S. dollars “PD.U” 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


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