CALGARY, Nov. 3 /PRNewswire-FirstCall/ -- Precision Drilling Corporation ("Precision" or the "Corporation") today announces that it has received all regulatory approvals required for its conversion into a trust, which will occur on November 7, 2005. The final day of trading for Precision's common shares (PD and PD.U on the TSX and PDS on the NYSE) will be November 4, 2005 and the first day of trading for the units of Precision Drilling Trust ( PD.UN and PD.U on the TSX and PDS on the NYSE) will be November 7, 2005. The exchange of Precision common shares for trust units and/or limited partnership units and a pro rata share of 26 million common shares of Weatherford International Ltd. and up to $Cdn. 850 million cash will also occur on November 7, 2005. DATASOURCE: Precision Drilling Corporation CONTACT: Hank B. Swartout, Chairman, President and Chief Executive Officer, 4200, 150 6th Avenue S.W., Calgary, Alberta T2P 3Y7, Telephone: (403) 716-4500, Fax: (403) 264-0251; website: http://www.precisiondrilling.com/; Archived images on this organization are searchable through CNW Photo Archive website at http://photos.newswire.ca/. Images are free to accredited members of the media. To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on Tools for Investors.

Copyright