UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
Pursuant
to Section 13a-16 or 15d-16 of the
Securities
Exchange Act of 1934
October
20, 2006
Commission
File Number: 001-14534
Precision
Drilling Trust
(Exact
name of registrant as specified in its charter)
4200,
150 - 6th Avenue S.W.
Calgary,
Alberta
Canada
T2P 3Y7
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
Form
20-F
___ Form
40-F X
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1).
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form
6-K
if submitted solely to provide an attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form
6-K
if submitted to furnish a report or other document that the registrant foreign
private issuer must furnish and make public under the laws of the jurisdiction
in which the registrant is incorporated, domiciled or legally organized (the
registrant's "home country"), or under the rules of the home country exchange
on
which the registrant's securities are traded, as long as the report or other
document is not a press release, is not required to be and has not been
distributed to the registrant's security holders, and, if discussing a material
event, has already been the subject of a Form 6-K submission or other Commission
filing on EDGAR.
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
____ No
X
If
"Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- N/A
Pursuant
to the requirements of Section 12 of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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PRECISION
DRILLING TRUST
By its Administrator PRECISION DRILLING
CORPORATION
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| Dated: October 20, 2006 | By: | /s/ Darren Ruhr |
|
Name: Darren Ruhr |
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| Title: Corporate Secretary | ||
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PRECISION
DRILLING TRUST
ANNOUNCES
FOURTH QUARTER MONTHLY DISTRIBUTIONS
AT
CDN$0.31 PER TRUST UNIT
Calgary,
Alberta, Canada - October 20, 2006
Precision
Drilling Trust (“Precision”) announced today that its Board of Trustees has set
the distribution policy for the fourth quarter of 2006 at the same rate
as in
the third quarter, Cdn$0.31 per trust unit per month. These monthly payments
also will be made to holders of Class B limited partnership units of
Precision
Drilling Limited Partnership.
The
Cdn$0.31 per unit cash distribution for October 2006 will be payable
on November
15, 2006 to unitholders of record on October 31, 2006. The ex-distribution
date
is October 27, 2006. The payment of Cdn$0.31 per unit also will be made
to
holders of Class B limited partnership units of Precision Drilling Limited
Partnership using the same record date and payment date.
An
announcement of any special distribution entitlement for 2006, pursuant
to the
Declaration of Trust, will be made by December 18, 2006.
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 www.precisiondrilling.com
and detailed information regarding enrolment 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
is Canada’s largest energy services trust and 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
Drilling Trust 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”.
For
further information please contact Doug Strong, Chief Financial Officer
of
Precision Drilling Corporation, Administrator of Precision Drilling Trust,
4200,
150 - 6th Avenue S.W., Calgary, Alberta T2P 3Y7, Telephone (403) 716-4500,
Fax
(403) 264-0251; website: www.precisiondrilling.com.
4200,
150
- 6th Avenue S.W.
Calgary,
Alberta, Canada T2P 3Y7
Telephone:
403.716.4500
Facsimile:
403.264.0251
www.precisiondrilling.com