Precision Drilling Trust and Grey Wolf, Inc. Announce Status of HSR Filing in the U.S.
30 Setembro 2008 - 10:00AM
Marketwired
Precision Drilling Trust ("Precision"), (TSX: PD.UN) (NYSE: PDS)
and Grey Wolf, Inc. ("Grey Wolf"), (AMEX: GW) announced today that
the Federal Trade Commission has completed its review of the
proposed acquisition by Precision of Grey Wolf and has granted
early termination of the Hart-Scott-Rodino ("HSR") waiting period,
effective September 26, 2008.
Termination of the HSR waiting period satisfies one of the
conditions to completion of the merger between Precision and Grey
Wolf. Completion of the merger is also subject to approval of the
merger agreement by Grey Wolf shareholders, receipt of other
regulatory approvals and satisfaction of other closing conditions
set forth in the merger agreement.
About Precision
Precision is a leading provider of safe, high performance energy
services to the North American 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 is headquartered in Calgary, Alberta, Canada. Precision
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 more information about Precision, go to
http://www.precisiondrilling.com.
About Grey Wolf
Grey Wolf is a leading provider of turnkey and contract oil and
gas land drilling services in the United States. Grey Wolf operates
from divisions in South Texas, Gulf Coast, Ark-La-Tex,
Mississippi/Alabama, Mid-Continent, Rocky Mountain regions, and
Mexico. Grey Wolf is headquartered in Houston, Texas, USA. Grey
Wolf, Inc. is listed on the American Stock Exchange under the
trading symbol "GW". For more information about Grey Wolf, go to
http://www.gwdrilling.com.
Additional Information and Where to Find It
In connection with the proposed merger, Precision has filed a
registration statement, which includes a proxy statement of Grey
Wolf with the Securities and Exchange Commission. INVESTORS AND
SECURITY HOLDERS OF GREY WOLF ARE URGED TO CAREFULLY READ IN THEIR
ENTIRETY THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS
AND OTHER MATERIALS REGARDING THE PROPOSED TRANSACTION WHEN THEY
BECOME AVAILABLE, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT
GREY WOLF, PRECISION, PRECISION LOBOS CORPORATION, A WHOLLY-OWNED
SUBSIDIARY OF PRECISION CREATED AS A SPECIAL PURPOSE VEHICLE, AND
THE PROPOSED MERGER. Prospective investors and security holders may
obtain a free copy of the registration statement and the proxy
statement/prospectus and other documents containing information
about Grey Wolf and Precision, without charge, at the SEC's web
site at www.sec.gov, at Precision's web site at
www.precisiondrilling.com, and at Grey Wolf's web site at
www.gwdrilling.com. Copies of the registration statement and the
proxy statement/prospectus and the SEC filings that will be
incorporated by reference therein may also be obtained for free by
directing a request to either Investor Relations, Precision
Drilling Trust, (403) 716-4500 or to Investor Relations, Grey Wolf,
Inc., (713) 435-6100.
Participants in the Solicitation
Grey Wolf and Precision and their respective directors,
officers, trustees and other persons may be deemed to be
participants in the solicitation of proxies from Grey Wolf's
shareholders in respect of the proposed merger. Information about
the directors and executive officers of Grey Wolf and their
ownership of Grey Wolf common stock can be found in Precision's
registration statement on Form F-4 filed with the SEC on September
25, 2008 (the "Form F-4"). Information concerning the directors and
executive officers of Precision is included in the Form F-4.
Additional information regarding the identity of potential
participants in the solicitation of proxies in respect of the
proposed merger and a description of their direct and indirect
interests, by security holdings or otherwise, is included in the
Form F-4.
Contacts: Precision Drilling Corporation Kevin Neveu Chief
Executive Officer (403) 716-4500 (403) 264-0251 (FAX) Doug Strong,
Chief Financial Officer of Precision Drilling Corporation,
Administrator of the Trust (403) 716-4500 (403) 264-0251 Precision
Drilling Trust 4200, 150 - 6th Avenue S.W. Calgary, Alberta T2P 3Y7
Website: www.precisiondrilling.com Grey Wolf, Inc. David W.
Wehlmann Executive Vice President and Chief Financial Officer (713)
435-6100 (713) 435-6171 (FAX) Grey Wolf, Inc. 10370 Richmond Ave,
Suite 600 Houston, TX 77042 Website: www.gwdrilling.com
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