UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                   PURSUANT TO SECTION 13A-16 OR 15D-16 OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                               For March 29, 2005

                        Commission File Number: 001-14534


                         PRECISION DRILLING CORPORATION
             (Exact name of registrant as specified in its charter)


                           4200, 150 - 6TH AVENUE S.W.
                                CALGARY, ALBERTA
                                 CANADA T2P 3Y7
                    (Address of principal executive offices)


         Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.

                     Form 20-F [_]           Form 40-F   [X]

         Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1). _______

         Note: Regulation S-T Rule 101(b)(1) only permits the submission in
paper of a Form 6-K if submitted solely to provide an attached annual report to
security holders.

         Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): _______

         Note: Regulation S-T Rule 101(b)(7) only permits the submission in
paper of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.

         Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
                        Yes [_]                No  [X]

         If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-  N/A
                                                 -------





Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                          PRECISION DRILLING CORPORATION



                                          Per: /s/ Jan M. Campbell
                                               ------------------------
                                               Jan M. Campbell
                                               Corporate Secretary


Date:  March 29, 2005






                                  NEWS RELEASE


                    PRECISION DRILLING CORPORATION ANNOUNCES
                      THE MAILING OF THE 2004 ANNUAL REPORT


Calgary, Alberta, Canada - March 29, 2005

Precision Drilling Corporation ("Precision") announced today that it has mailed
their 2004 Annual Report, along with the Notice of Annual and Special Meeting of
the Shareholders, Proxy and the Management Information Circular, for the
shareholders meeting to be held on May 10, 2005, in the Devonian Room of the
Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta, Canada at 3:00
p.m., Calgary time.

The 2004 Annual Report includes Management's Discussion and Analysis and the
financial statements for the year ended December 31, 2004. Results for 2004 were
previously released on February 10, 2005.

Precision has retained, for a fee, the services of Georgeson Shareholder
Communications Canada Inc. to assist it in the solicitation of proxies from
shareholders of Precision for the Annual and Special Meeting of the
Shareholders. For any proxy related inquiries please call 1-877-288-2178.

Precision Drilling Corporation (TSX: PD and PD.U; NYSE: PDS) is a global
contract drilling and oilfield services company providing a broad range of
drilling, production and evaluation services with focus on fulfilling customer
needs through fit-for-purpose technologies for the maturing oilfields of the
21st century. With corporate offices in Calgary, Alberta, Canada and corporate
subsidiary offices in Houston, Texas, and research facilities in the U.S. and
Europe, Precision employs more than 12,000 people conducting operations in more
than 30 countries. Precision is committed to providing efficient and safe
services to create value for our customers, our shareholders and our employees.

FOR FURTHER INFORMATION, PLEASE CONTACT DALE E. TREMBLAY, SENIOR VICE PRESIDENT
FINANCE AND CHIEF FINANCIAL OFFICER, 4200, 150 - 6TH AVENUE S.W., CALGARY,
ALBERTA T2P 3Y7, TELEPHONE (403) 716-4500; FAX (403) 264-0251; WEBSITE:
WWW.PRECISIONDRILLING.COM