12:29 PM EST - Precision Drilling Trust : units lost ground after the company said it is cutting back its monthly cash distribution 39 per cent, to 19 cents a unit from 31 cents as a result of uncertain commodity crude price trends. Citing similar reasons, Enterra Energy trust also announced its decision to reduce cash distributions. Precision Drilling Trust
units T.PD.UN are trading down $1.22 at $26.40.
