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
FEBRUARY 17, 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): 8 2 - 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.
Dated: February 17, 2006
PRECISION DRILLING TRUST
By its Administrator PRECISION DRILLING
CORPORATION
By: "Darren Ruhr"
Name: Darren Ruhr
Title: Vice President, Corporate Services and
Corporate Secretary
Exhibit Title
1 PRESS RELEASE - PRECISION DRILLING TRUST ANNOUNCES
FEBRUARY 2006 CASH DISTRIBUTION
[Graphic Ommitted]
[Logo - Precision Drilling Corporation]
NEWS RELEASE
PRECISION DRILLING TRUST
ANNOUNCES FEBRUARY 2006 CASH DISTRIBUTION
CALGARY, February 17, 2006 - Precision Drilling Trust ("Precision") announces
today that the cash distribution for the month of February 2006 will be Cdn$
0.27 per trust unit of Precision. The distribution will be payable on March 15,
2006 to unitholders of record on February 28, 2006. The ex-distribution date is
February 24, 2006. A payment of Cdn$ 0.27 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.
Precision Drilling Trust is Canada's largest energy services trust.
Headquartered in Calgary, Alberta, it 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 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".
FOR FURTHER INFORMATION PLEASE CONTACT DOUG STRONG, CHIEF FINANCIAL OFFICER OF
PRECISION DRILLING CORPORATION, ADMINISTRATOR OF THE 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