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
January
18, 2007
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: January 18, 2007 | By: | /s/ Darren Ruhr |
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Name: Darren Ruhr |
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| Title: Corporate Secretary | ||
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Precision
Drilling Trust Announces
United
States Federal income tax information for 2006
Calgary,
Alberta, Canada - January 18, 2007
Precision
Drilling Trust (“Precision") announced today the United States (“U.S.”) federal
income tax treatment of cash distributions paid by Precision to individual
U.S.
resident unitholders in 2006.
Based
on advice from Precision’s U.S. tax advisors, the issued and outstanding trust
units of Precision will be classified as equity rather than as debt for
U.S.
federal income tax purposes. Precision believes that the cash distributions
paid
in 2006 to individual U.S. resident unitholders out of its current and
accumulated earnings and profits should be treated as qualified dividend
income
for U.S. federal income tax purposes eligible for the reduced maximum rate
of
tax to individuals of generally 15%. More detailed United States tax information
regarding the distributions paid in 2006 by Precision are provided on
www.precisiondrilling.com.
United
States resident unitholders are advised to consult their own tax advisers
as to
the specific U.S. federal and state income tax consequences of having received
a
cash distribution in 2006 from Precision.
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 on the New York Stock Exchange under the trading symbol “PDS”.
For
further information please contact Wane Stickland, Vice President Finance
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