10:39 AM EST - Precision Drilling Trust : plans a 70 percent surge in capital spending in 2008 despite having been ravaged by weak natural gas drilling activity in Western Canada, and it is making a tentative return to the international oil and gas industry. Canada's biggest drilling rig operator said it will spend $370 million next year on its biggest-ever capital program. Precision Drilling Trust
shares T.PD.UN are trading up 10 cents at $15.60.
