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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>
As filed with the Securities and Exchange Commission on June 17, 2010</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 1pt"><B>Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>U.S. SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 8pt">
<DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 4pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>



<DIV align="center" style="font-size: 18pt; margin-top: 2pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 9pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 6pt"><B>PRECISION DRILLING CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Alberta, Canada<BR></B>
<FONT style="font-size:8pt">(Province or Other Jurisdiction<BR>
of Incorporation or Organization)</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1381<BR></B>
<FONT style="font-size:8pt">(Primary Standard Industrial Classification)<BR>
Code Number (if applicable))</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Not Applicable<BR></B>
<FONT style="font-size:8pt">(I.R.S. Employer Identification Number<BR>
(if applicable)</FONT></TD>
</TR>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>4200, 150 &#150; 6th Avenue S.W.<BR>
Calgary, Alberta<BR>
Canada T2P 3Y7<BR>
(403)&nbsp;716-4500</B><BR>
<FONT style="font-size:8pt">
(Address and telephone number of Registrant&#146;s principal executive offices)</FONT></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>PRECISION DRILLING CORPORATION<BR>
AMENDED AND RESTATED DEFERRED SHARE UNIT PLAN</B><BR>
<FONT style="font-size:8pt">(Full title of the plan)</FONT></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>
Precision Drilling Oilfield Services Corporation, Attn: Kenneth J. Haddad, 10370 Richmond Avenue, <BR>
Suite&nbsp;600, Houston, Texas 77042, (713) 435-6184</B>
</DIV>


<DIV align="center" style="font-size: 8pt; margin-top: 0pt">(Name, address, (including zip code) and telephone number (including area code) of agent for service in the United States)
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">
<DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 4pt"><B><I>Copies to:</I></B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
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<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Joanne L. Alexander<BR>
Vice President, General Counsel and<BR>
Corporate Secretary<BR>
Precision Drilling Corporation<BR>
4200, 150 &#150; 6th Avenue S.W.<BR>
Calgary, Alberta<BR>
Canada T2P 3Y7</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Robert C. Lando, Esq.<BR>
Osler, Hoskin &#038; Harcourt LLP<BR>
620 Eighth Avenue &#150; 36th Floor<BR>
New York, New York 10018</B></TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">
<DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 6pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt">Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in
Rule&nbsp;12b-2 of the Exchange Act.</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Large accelerated filer &nbsp;<FONT style="font-family: Wingdings">&#120;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accelerated filer &nbsp;<FONT style="font-family: Wingdings">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Non-accelerated filer &nbsp;<FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;(Do not check if a smaller reporting company)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Smaller reporting company &nbsp;<FONT style="font-family: Wingdings">&#111;</FONT></TD>
</TR>
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</TABLE>
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="21%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of each</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>class of securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>offering price per</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>aggregate offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered (2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>share (3)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Shares (1)</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><B>Total</B>
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" valign="bottom" style="border-top: 2px solid #000000"><B>800,000</B></TD>
    <TD nowrap valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>U.S.$7.42</B>
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>U.S.$5,936,000</B>
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>U.S.$423</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents common shares of the Registrant issuable pursuant to the redemption of
deferred share units granted under the Registrant&#146;s Amended and Restated Deferred Share Unit
Plan (the &#147;Plan&#148;), including associated rights issued pursuant to the shareholder rights plan
agreement between the Registrant and Computershare Trust Company of Canada made as of June&nbsp;1,
2010, which may not be exercised or traded separately from the common shares unless and until
certain specified events occur.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents the estimated maximum number of common shares of the Registrant issuable under
the Plan based on outstanding deferred share units and estimated future grants.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated for the purpose of calculating the registration fee in accordance with Rule
457(c) and 457(h) of the Securities Act of 1933, as amended, based on the average of the high
and low prices of the Registrant&#146;s common shares reported on the New York Stock Exchange on
June&nbsp;14, 2010, which was U.S.$7.42 per share.</TD>
</TR>

</TABLE>




<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This registration statement on Form S-8 (the &#147;Registration Statement&#148;) registers the common
shares (the &#147;Common Shares&#148;) of Precision Drilling Corporation (the &#147;Registrant&#148;) issuable pursuant
to the redemption of deferred share units previously granted and to be granted in the future under
the Registrant&#146;s Amended and Restated Deferred Share Unit Plan (the &#147;Plan&#148;).</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>PART I</B></DIV>



<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.</B>&nbsp;&nbsp;<B>Plan Information</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The documents containing information specified in Part&nbsp;I of Form S-8 will be sent or given to
directors of the Registrant participating under the Plan as specified by Rule&nbsp;428(b)(1) of the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;). Such documents are not required to be,
and are not, filed with the Securities and Exchange Commission (the &#147;Commission&#148;) either as part of
this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424 of
the Securities Act. Those documents and the documents incorporated by reference into this
Registration Statement pursuant to Item&nbsp;3 of Part&nbsp;II of this Registration Statement, taken
together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities
Act.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2.</B>&nbsp;&nbsp;<B>Registrant Information and Employee Plan Annual Information</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Upon written or oral request, any of the documents incorporated by reference in Item&nbsp;3 of Part&nbsp;II
of this Registration Statement (which documents are incorporated by reference in the Section 10(a)
prospectus), other documents required to be delivered to eligible participants pursuant to Rule
428(b) or additional information about the Plan are available without charge by contacting:</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 12pt">Precision Drilling Corporation<BR>
10370 Richmond Avenue,<BR>
Suite&nbsp;600<BR>
Houston, Texas 77042<BR>
(713)&nbsp;435-6100<BR>
Attention: Investor Relations

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->-1-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>PART II</B></DIV>



<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN REGISTRATION STATEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3.</B>&nbsp;&nbsp;<B>Incorporation of Documents by Reference</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Registrant hereby incorporates by reference into this Registration Statement the following
documents previously filed with the Commission pursuant to the Securities Exchange Act of 1934, as
amended (the &#147;Exchange Act&#148;):</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Annual Report on Form 40-F for the year ended December&nbsp;31, 2009, filed by Precision Drilling
Trust (the &#147;Trust&#148;) on March&nbsp;25, 2010, which includes the Trust&#146;s audited financial statements
for the fiscal year ended December&nbsp;31, 2009;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unaudited interim consolidated financial statements of the Trust as at and for the three
month period ended March&nbsp;31, 2010 (incorporated by reference to Exhibit&nbsp;99.2 to the Trust&#146;s
report on Form 6-K filed by the Trust on May&nbsp;11, 2010);</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Management&#146;s discussion and analysis of the financial condition and results of operations of
the Trust for the three month period ended March&nbsp;31, 2010 (incorporated by reference to
Exhibit&nbsp;99.1 to the Trust&#146;s report on Form 6-K filed by the Trust on May&nbsp;11, 2010);</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Material change report of the Trust dated February&nbsp;16, 2010 with respect to the plan of
arrangement under Section&nbsp;193 of the <I>Business Corporations Act </I>(Alberta) (the &#147;ABCA&#148;)
involving, among other things, the conversion of the Trust from an income fund structure to a
corporate structure (the &#147;Arrangement&#148;) (incorporated by reference to Exhibit&nbsp;4.6 to the
Registrant&#146;s registration statement on Form F-10 filed by the Registrant on June&nbsp;17, 2010);</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Management information circular of the Trust dated April&nbsp;7, 2010, including the financial
statements set forth in Appendices &#147;F&#148; and &#147;G&#148; thereto (incorporated by reference to Exhibit&nbsp;1
to the Trust&#146;s report on Form 6-K filed by the Trust on April&nbsp;15, 2010);</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Material change report of the Registrant dated June&nbsp;1, 2010 with respect to the completion of
the Arrangement (incorporated by reference to Exhibit&nbsp;99.2 to the Registrant&#146;s report on Form
6-K filed by the Registrant on June&nbsp;1, 2010); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Description of the Common Shares (incorporated by reference to Exhibit&nbsp;99.1 to the
Registrant&#146;s report on Form 6-K filed by the Registrant on June&nbsp;1, 2010 under the designation
Form 8-K12B).</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, all documents subsequently filed by the Registrant pursuant to Section&nbsp;13(a), 13(c),
14 or 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates
that all securities offered hereby have been sold or which deregisters all securities covered
hereby then remaining unsold, shall be deemed to be incorporated by reference in, and to be part
of, this Registration Statement from the filing date of each such document. Any statement,
including financial statements, contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement. Unless expressly
incorporated into this Registration Statement, a report furnished on Form 6-K prior or subsequent
to the date hereof shall not be incorporated by reference into this Registration Statement.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4.</B>&nbsp;&nbsp;<B>Description of Securities</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-2-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.</B>&nbsp;&nbsp;<B>Interests of Named Experts and Counsel</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6.</B>&nbsp;&nbsp;<B>Indemnification of Directors and Officers</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the ABCA, the Registrant may indemnify a present or former director or officer, or a person
who acts or acted at the Registrant&#146;s request as a director or officer of a body corporate of which
the Registrant is or was a shareholder or creditor, and the director&#146;s or officer&#146;s heirs and legal
representatives, against all costs, charges and expenses, including an amount paid to settle an
action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal
or administrative action or proceeding to which he or she is made a party by reason of being or
having been a director or officer of the Registrant or that body corporate, if the director or
officer acted honestly and in good faith with a view to the best interests of the Registrant, and,
in the case of a criminal or administrative action or proceeding that is enforced by a monetary
penalty, had reasonable grounds for believing that his or her conduct was lawful. Indemnification
in connection with a derivative action may require court approval. A director or officer is
entitled to indemnification from the Registrant as a matter of right if he or she was substantially
successful on the merits in the person&#146;s defense of the action or proceeding, fulfilled the
conditions set forth above, and is fairly and reasonably entitled to indemnity.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The bylaws of the Registrant provide that, subject to the limitations contained in the ABCA, the
Registrant shall indemnify a director or officer or a former director or officer, or a person who
acts or acted at the Registrant&#146;s request as a director or officer of a body corporate of which the
Registrant is or was a shareholder or creditor, and his or her heirs and legal representatives,
against all costs, charges and expenses, including an amount paid to settle an action or satisfy a
judgment, reasonably incurred by him or her in respect of any civil, criminal or administrative
action or proceeding to which he or she is made a party by reason of being or having been a
director or officer of the Registrant, if: (i)&nbsp;he or she acted honestly and in good faith with a
view to the best interests of the Registrant; and (ii)&nbsp;in the case of a criminal or administrative
action or proceeding that is enforced by a monetary penalty, he or she had reasonable grounds for
believing that his or her conduct was lawful.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.</B>&nbsp;&nbsp;<B>Exemption from Registration Claimed</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.</B>&nbsp;&nbsp;<B>Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits have been filed as part of this Registration Statement.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amalgamation of Precision Drilling Corporation.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By-Law No.&nbsp;1 of Precision Drilling Corporation.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shareholder Rights Plan Agreement between Precision Drilling Corporation and
Computershare Trust Company of Canada dated June&nbsp;1, 2010 (incorporated by
reference to Exhibit&nbsp;99.2 to the Registrant&#146;s report on Form&nbsp;6-K filed with
the Commission by the Registrant on June&nbsp;1, 2010 under the designation Form
8-K12B).</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Bennett Jones LLP regarding the legality of the Common Shares.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Felesky Flynn LLP.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of TD Securities Inc.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of attorney (included on signature page hereto).</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Precision Drilling Corporation Amended and Restated Deferred Share Unit Plan.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.</B>&nbsp;&nbsp;<B>Undertakings</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or events arising after the effective
date of the Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the Registration Statement. Notwithstanding the
foregoing, any increase or decrease in volume of the securities offered (if the
total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to
Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than a 20&nbsp;percent change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective Registration Statement; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with respect to the plan of distribution
not previously disclosed in the Registration Statement or any material change to
such information in the Registration Statement;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the Registrant pursuant to
section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial <I>bona fide </I>offering thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant&#146;s annual report pursuant to section 13(a) or section
15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering
thereof.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions,
or otherwise, the Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->-4-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Calgary, Province of Alberta, Country of Canada, on the 17th day of
June, 2010.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><BR><B>PRECISION DRILLING CORPORATION<BR></B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;&nbsp;Douglas J. Strong
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Douglas J. Strong&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWERS OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints each of Douglas J.
Strong and Kenneth J. Haddad his or her true and lawful attorney-in-fact and agent, each acting
alone, with full power of substitution and resubstitution, for him or her and in his or her name,
place and stead, in any and all capacities (unless revoked in writing) to sign any or all
amendments (including post-effective amendments) to this Registration Statement, and to file the
same, with all exhibits thereto, and other documents in connection therewith, with the U.S.
Securities and Exchange Commission, granting to such attorney-in-fact and agent, each acting alone,
full power and authority to do and perform each and every act and thing appropriate or necessary to
be done in connection therewith, as fully to all intents and purposes as he or she might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of
them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Power of Attorney may be executed in multiple counterparts, each of which shall be deemed
an original, but which taken together shall constitute one instrument.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this Registration Statement has been
signed by the following persons in the capacities indicated, on the 17th day of June, 2010.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Kevin A. Neveu<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Kevin A. Neveu
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer<BR>
Precision Drilling Corporation</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Douglas J. Strong<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Douglas J. Strong
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer<BR>
Precision Drilling Corporation</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Leonard C. Gambles<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Leonard C. Gambles
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Accounting Officer,<BR>
Precision Drilling Corporation</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;William T. Donovan<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
William T. Donovan
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;W.C. (Mickey) Dunn<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
W.C. (Mickey) Dunn
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Brian A. Felesky<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Brian A. Felesky
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Stephen J.J. Letwin<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Stephen J.J. Letwin
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Robert J. Gibson<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Robert J. Gibson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Allen R. Hagerman<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Allen R. Hagerman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Patrick M. Murray<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Patrick M. Murray
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Kevin A. Neveu<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Kevin A. Neveu
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>Frederick W. Pheasey
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Robert L. Phillips<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Robert L. Phillips
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/&nbsp;&nbsp;Trevor M. Turbidy<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
Trevor M. Turbidy
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AUTHORIZED REPRESENTATIVE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of Section 6(a) of the Securities Act, the undersigned has signed this
Registration Statement, solely in the capacity of the duly authorized representative of Precision
Drilling Corporation in the United States, in the City of Houston, State of Texas, on June&nbsp;17th,
2010.</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><BR><B>PRECISION DRILLING CORPORATION<BR>
(Authorized Representative)</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;&nbsp;Kenneth J. Haddad
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Kenneth J. Haddad&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Vice President, Business Development&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " EXHIBIT INDEX" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amalgamation of Precision Drilling Corporation.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By-Law No.&nbsp;1 of Precision Drilling Corporation.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shareholder Rights Plan Agreement between Precision Drilling Corporation and
Computershare Trust Company of Canada dated June&nbsp;1, 2010 (incorporated by
reference to Exhibit&nbsp;99.2 to the Registrant&#146;s report on Form&nbsp;6-K filed with
the Commission by the Registrant on June&nbsp;1, 2010 under the designation Form
8-K12B).</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Bennett Jones LLP regarding the legality of the Common Shares.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Felesky Flynn LLP.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of TD Securities Inc.</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of attorney (included on signature page hereto).</TD>
</TR>
<TR valign="bottom" style="line-height: 3pt"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Precision Drilling Corporation Amended and Restated Deferred Share Unit Plan.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "o62921sv8.htm", "description": "S-8", "secsgml_size_bytes": 61263}]
{"company-data": {"conformed-name": "PRECISION DRILLING Corp", "cik": "0001013605", "assigned-sic": "1381", "irs-number": "000000000", "state-of-incorporation": "A0", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-167614", "film-number": "10904958"}, "business-address": {"street1": "150 - 6TH AVENUE S.W.", "street2": "SUITE 4200", "city": "CALGARY", "state": "A0", "zip": "T2P 3Y7", "phone": "403-716-4500"}, "mail-address": {"street1": "150 - 6TH AVENUE S.W.", "street2": "SUITE 4200", "city": "CALGARY", "state": "A0", "zip": "T2P 3Y7"}, "former-company": [{"former-conformed-name": "PRECISION DRILLING TRUST", "date-changed": "20051121"}, {"former-conformed-name": "PRECISION DRILLING CORP", "date-changed": "19960506"}]}
sv8
As filed with the Securities and Exchange Commission on June 17, 2010
Registration No. 333-
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
PRECISION DRILLING CORPORATION
(Exact name of Registrant as specified in its charter)
Alberta, Canada
(Province or Other Jurisdiction
of Incorporation or Organization)
1381
(Primary Standard Industrial Classification)
Code Number (if applicable))
Not Applicable
(I.R.S. Employer Identification Number
(if applicable)
4200, 150 – 6th Avenue S.W.
Calgary, Alberta
Canada T2P 3Y7
(403) 716-4500
(Address and telephone number of Registrant's principal executive offices)
PRECISION DRILLING CORPORATION
AMENDED AND RESTATED DEFERRED SHARE UNIT PLAN
(Full title of the plan)
Precision Drilling Oilfield Services Corporation, Attn: Kenneth J. Haddad, 10370 Richmond Avenue,
Suite 600, Houston, Texas 77042, (713) 435-6184
(Name, address, (including zip code) and telephone number (including area code) of agent for service in the United States)
Copies to:
Joanne L. Alexander
Vice President, General Counsel and
Corporate Secretary
Precision Drilling Corporation
4200, 150 – 6th Avenue S.W.
Calgary, Alberta
Canada T2P 3Y7
Robert C. Lando, Esq.
Osler, Hoskin & Harcourt LLP
620 Eighth Avenue – 36th Floor
New York, New York 10018
Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of "large accelerated filer," "accelerated filer" and "smaller reporting company" in
Rule 12b-2 of the Exchange Act.
Large accelerated filer
x
Accelerated filer
o
Non-accelerated filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Title of each
Proposed maximum
Proposed maximum
class of securities
Amount to be
offering price per
aggregate offering
Amount of
to be registered
registered (2)
share (3)
price
registration fee
Common Shares (1)
Total
800,000
U.S.$7.42
U.S.$5,936,000
U.S.$423
(1)
Represents common shares of the Registrant issuable pursuant to the redemption of
deferred share units granted under the Registrant's Amended and Restated Deferred Share Unit
Plan (the "Plan"), including associated rights issued pursuant to the shareholder rights plan
agreement between the Registrant and Computershare Trust Company of Canada made as of June 1,
2010, which may not be exercised or traded separately from the common shares unless and until
certain specified events occur.
(2)
Represents the estimated maximum number of common shares of the Registrant issuable under
the Plan based on outstanding deferred share units and estimated future grants.
(3)
Estimated for the purpose of calculating the registration fee in accordance with Rule
457(c) and 457(h) of the Securities Act of 1933, as amended, based on the average of the high
and low prices of the Registrant's common shares reported on the New York Stock Exchange on
June 14, 2010, which was U.S.$7.42 per share.
This registration statement on Form S-8 (the "Registration Statement") registers the common
shares (the "Common Shares") of Precision Drilling Corporation (the "Registrant") issuable pursuant
to the redemption of deferred share units previously granted and to be granted in the future under
the Registrant's Amended and Restated Deferred Share Unit Plan (the "Plan").
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.
Plan Information
The documents containing information specified in Part I of Form S-8 will be sent or given to
directors of the Registrant participating under the Plan as specified by Rule 428(b)(1) of the
Securities Act of 1933, as amended (the "Securities Act"). Such documents are not required to be,
and are not, filed with the Securities and Exchange Commission (the "Commission") either as part of
this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of
the Securities Act. Those documents and the documents incorporated by reference into this
Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken
together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities
Act.
Item 2.
Registrant Information and Employee Plan Annual Information
Upon written or oral request, any of the documents incorporated by reference in Item 3 of Part II
of this Registration Statement (which documents are incorporated by reference in the Section 10(a)
prospectus), other documents required to be delivered to eligible participants pursuant to Rule
428(b) or additional information about the Plan are available without charge by contacting:
Precision Drilling Corporation
10370 Richmond Avenue,
Suite 600
Houston, Texas 77042
(713) 435-6100
Attention: Investor Relations
-1-
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
The Registrant hereby incorporates by reference into this Registration Statement the following
documents previously filed with the Commission pursuant to the Securities Exchange Act of 1934, as
amended (the "Exchange Act"):
1.
Annual Report on Form 40-F for the year ended December 31, 2009, filed by Precision Drilling
Trust (the "Trust") on March 25, 2010, which includes the Trust's audited financial statements
for the fiscal year ended December 31, 2009;
2.
Unaudited interim consolidated financial statements of the Trust as at and for the three
month period ended March 31, 2010 (incorporated by reference to Exhibit 99.2 to the Trust's
report on Form 6-K filed by the Trust on May 11, 2010);
3.
Management's discussion and analysis of the financial condition and results of operations of
the Trust for the three month period ended March 31, 2010 (incorporated by reference to
Exhibit 99.1 to the Trust's report on Form 6-K filed by the Trust on May 11, 2010);
4.
Material change report of the Trust dated February 16, 2010 with respect to the plan of
arrangement under Section 193 of the
Business Corporations Act
(Alberta) (the "ABCA")
involving, among other things, the conversion of the Trust from an income fund structure to a
corporate structure (the "Arrangement") (incorporated by reference to Exhibit 4.6 to the
Registrant's registration statement on Form F-10 filed by the Registrant on June 17, 2010);
5.
Management information circular of the Trust dated April 7, 2010, including the financial
statements set forth in Appendices "F" and "G" thereto (incorporated by reference to Exhibit 1
to the Trust's report on Form 6-K filed by the Trust on April 15, 2010);
6.
Material change report of the Registrant dated June 1, 2010 with respect to the completion of
the Arrangement (incorporated by reference to Exhibit 99.2 to the Registrant's report on Form
6-K filed by the Registrant on June 1, 2010); and
7.
Description of the Common Shares (incorporated by reference to Exhibit 99.1 to the
Registrant's report on Form 6-K filed by the Registrant on June 1, 2010 under the designation
Form 8-K12B).
In addition, all documents subsequently filed by the Registrant pursuant to Section 13(a), 13(c),
14 or 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates
that all securities offered hereby have been sold or which deregisters all securities covered
hereby then remaining unsold, shall be deemed to be incorporated by reference in, and to be part
of, this Registration Statement from the filing date of each such document. Any statement,
including financial statements, contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement. Unless expressly
incorporated into this Registration Statement, a report furnished on Form 6-K prior or subsequent
to the date hereof shall not be incorporated by reference into this Registration Statement.
Item 4.
Description of Securities
Not applicable.
-2-
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Under the ABCA, the Registrant may indemnify a present or former director or officer, or a person
who acts or acted at the Registrant's request as a director or officer of a body corporate of which
the Registrant is or was a shareholder or creditor, and the director's or officer's heirs and legal
representatives, against all costs, charges and expenses, including an amount paid to settle an
action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal
or administrative action or proceeding to which he or she is made a party by reason of being or
having been a director or officer of the Registrant or that body corporate, if the director or
officer acted honestly and in good faith with a view to the best interests of the Registrant, and,
in the case of a criminal or administrative action or proceeding that is enforced by a monetary
penalty, had reasonable grounds for believing that his or her conduct was lawful. Indemnification
in connection with a derivative action may require court approval. A director or officer is
entitled to indemnification from the Registrant as a matter of right if he or she was substantially
successful on the merits in the person's defense of the action or proceeding, fulfilled the
conditions set forth above, and is fairly and reasonably entitled to indemnity.
The bylaws of the Registrant provide that, subject to the limitations contained in the ABCA, the
Registrant shall indemnify a director or officer or a former director or officer, or a person who
acts or acted at the Registrant's request as a director or officer of a body corporate of which the
Registrant is or was a shareholder or creditor, and his or her heirs and legal representatives,
against all costs, charges and expenses, including an amount paid to settle an action or satisfy a
judgment, reasonably incurred by him or her in respect of any civil, criminal or administrative
action or proceeding to which he or she is made a party by reason of being or having been a
director or officer of the Registrant, if: (i) he or she acted honestly and in good faith with a
view to the best interests of the Registrant; and (ii) in the case of a criminal or administrative
action or proceeding that is enforced by a monetary penalty, he or she had reasonable grounds for
believing that his or her conduct was lawful.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits
The following exhibits have been filed as part of this Registration Statement.
Exhibit
Number
Description
4.1
Certificate of Amalgamation of Precision Drilling Corporation.
4.2
By-Law No. 1 of Precision Drilling Corporation.
4.3
Shareholder Rights Plan Agreement between Precision Drilling Corporation and
Computershare Trust Company of Canada dated June 1, 2010 (incorporated by
reference to Exhibit 99.2 to the Registrant's report on Form 6-K filed with
the Commission by the Registrant on June 1, 2010 under the designation Form
8-K12B).
5.1
Opinion of Bennett Jones LLP regarding the legality of the Common Shares.
23.1
Consent of KPMG LLP.
23.2
Consent of Felesky Flynn LLP.
23.3
Consent of TD Securities Inc.
24.1
Power of attorney (included on signature page hereto).
99.1
Precision Drilling Corporation Amended and Restated Deferred Share Unit Plan.
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Item 9.
Undertakings
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective
date of the Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the Registration Statement. Notwithstanding the
foregoing, any increase or decrease in volume of the securities offered (if the
total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to
Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than a 20 percent change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective Registration Statement; and
(iii)
To include any material information with respect to the plan of distribution
not previously disclosed in the Registration Statement or any material change to
such information in the Registration Statement;
PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by the Registrant pursuant to
section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial
bona fide
offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b)
The Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant's annual report pursuant to section 13(a) or section
15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona fide
offering
thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions,
or otherwise, the Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.
-4-
SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Calgary, Province of Alberta, Country of Canada, on the 17th day of
June, 2010.
PRECISION DRILLING CORPORATION
By:
/s/  Douglas J. Strong
Name:
Douglas J. Strong
Title:
Chief Financial Officer
POWERS OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints each of Douglas J.
Strong and Kenneth J. Haddad his or her true and lawful attorney-in-fact and agent, each acting
alone, with full power of substitution and resubstitution, for him or her and in his or her name,
place and stead, in any and all capacities (unless revoked in writing) to sign any or all
amendments (including post-effective amendments) to this Registration Statement, and to file the
same, with all exhibits thereto, and other documents in connection therewith, with the U.S.
Securities and Exchange Commission, granting to such attorney-in-fact and agent, each acting alone,
full power and authority to do and perform each and every act and thing appropriate or necessary to
be done in connection therewith, as fully to all intents and purposes as he or she might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of
them, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
This Power of Attorney may be executed in multiple counterparts, each of which shall be deemed
an original, but which taken together shall constitute one instrument.
Pursuant to the requirements of the Securities Act, this Registration Statement has been
signed by the following persons in the capacities indicated, on the 17th day of June, 2010.
/s/  Kevin A. Neveu
Kevin A. Neveu
Chief Executive Officer
Precision Drilling Corporation
/s/  Douglas J. Strong
Douglas J. Strong
Chief Financial Officer
Precision Drilling Corporation
/s/  Leonard C. Gambles
Leonard C. Gambles
Chief Accounting Officer,
Precision Drilling Corporation
/s/  William T. Donovan
William T. Donovan
Director
/s/  W.C. (Mickey) Dunn
W.C. (Mickey) Dunn
Director
/s/  Brian A. Felesky
Brian A. Felesky
Director
/s/  Stephen J.J. Letwin
Stephen J.J. Letwin
Director
/s/  Robert J. Gibson
Robert J. Gibson
Director
/s/  Allen R. Hagerman
Allen R. Hagerman
Director
/s/  Patrick M. Murray
Patrick M. Murray
Director
/s/  Kevin A. Neveu
Kevin A. Neveu
Director
Frederick W. Pheasey
Director
/s/  Robert L. Phillips
Robert L. Phillips
Director
/s/  Trevor M. Turbidy
Trevor M. Turbidy
Director
AUTHORIZED REPRESENTATIVE
Pursuant to the requirements of Section 6(a) of the Securities Act, the undersigned has signed this
Registration Statement, solely in the capacity of the duly authorized representative of Precision
Drilling Corporation in the United States, in the City of Houston, State of Texas, on June 17th,
2010.
PRECISION DRILLING CORPORATION
(Authorized Representative)
By:
/s/  Kenneth J. Haddad
Name:
Kenneth J. Haddad
Title:
Vice President, Business Development
EXHIBIT INDEX
Exhibit Number
Description
4.1
Certificate of Amalgamation of Precision Drilling Corporation.
4.2
By-Law No. 1 of Precision Drilling Corporation.
4.3
Shareholder Rights Plan Agreement between Precision Drilling Corporation and
Computershare Trust Company of Canada dated June 1, 2010 (incorporated by
reference to Exhibit 99.2 to the Registrant's report on Form 6-K filed with
the Commission by the Registrant on June 1, 2010 under the designation Form
8-K12B).
5.1
Opinion of Bennett Jones LLP regarding the legality of the Common Shares.
23.1
Consent of KPMG LLP.
23.2
Consent of Felesky Flynn LLP.
23.3
Consent of TD Securities Inc.
24.1
Power of attorney (included on signature page hereto).
99.1
Precision Drilling Corporation Amended and Restated Deferred Share Unit Plan.