2005 Canadian Tax Information
2005 United States and Other Non-resident Tax Information
Trust Conversion Tax Information
The following information provides a brief summary of the consideration received by former Precision Drilling Corporation ("Corporation") shareholders ("Shareholders") who disposed of their common shares of the Corporation ("Precision Shares") under the plan of arrangement ("Arrangement") to convert ("Conversion") the Corporation into Precision Drilling Trust ("Trust") effective November 7th, 2005. This summary is of a general nature only and is not intended to be, nor should it be construed to be legal, business or tax advice or representations to any Shareholder and is qualified in its entirety by the disclosure contained in the Corporation's information circular dated October 3rd, 2005 ("Circular"). Shareholders should consult their own legal, business or tax advisors.
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