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

                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934
                              (Amendment No. _1_ )*


                            Precision Drilling Trust
 -------------------------------------------------------------------------------
                                (Name of Issuer)

                                   Trust units
 -------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    740215108
 -------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2008
 -------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

     Check the  appropriate  box to  designate  the rule  pursuant to which this
Schedule is filed:

          [X] Rule 13d-1(b)
          [ ] Rule 13d-1(c)
          [ ] Rule 13d-1(d)
----------

*    The  remainder  of this cover  page  shall be filled out  for  a  reporting
person's  initial  filing on this  form with  respect  to the  subject  class of
securities,  and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

     The  information  required in the remainder of this cover page shall not be
deemed to be "filed"  for the purpose of Section 18 of the  Securities  Exchange
Act of 1934 ("Act") or otherwise  subject to the  liabilities of that section of
the Act but shall be subject to all other  provisions of the Act  (however,  see
the Notes).





CUSIP No.  740215108
--------------------------------------------------------------------------------
1.  NAME OF REPORTING PERSONS
    I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

Causeway Capital Management LLC
95-4861680
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2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                             (a) [ ]
                             (b) [ ]
--------------------------------------------------------------------------------
3.  SEC USE ONLY
--------------------------------------------------------------------------------
4.  CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, USA
------------------------------------------------------------------------------
NUMBER OF       5.   SOLE VOTING POWER                      7,778,202
SHARES          ----------------------------------------------------------------
BENEFICIALLY    6.   SHARED VOTING POWER                    0
OWNED BY        ----------------------------------------------------------------
EACH            7.   SOLE DISPOSITIVE POWER                 9,127,543
REPORTING       ----------------------------------------------------------------
PERSON          8.  SHARED DISPOSITIVE POWER                0
WITH:
--------------------------------------------------------------------------------
9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

    9,127,543
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

5.72 %
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
             IA
--------------------------------------------------------------------------------





Item 1(a).  Name of Issuer:

       Precision Drilling Trust
--------------------------------------------------------------------------------
Item 1(b).  Address of Issuer's Principal Executive Offices:

       4200-150 6th Avenue, S.W.
       Calgary, Alberta, Canada T2P 3Y7
--------------------------------------------------------------------------------
Item 2(a).  Name of Person Filing:

       Causeway Capital Management LLC
--------------------------------------------------------------------------------
Item 2(b).  Address of Principal Business Office, or if None, Residence:

       11111 Santa Monica Blvd.
       15th Floor
       Los Angeles, CA 90025
--------------------------------------------------------------------------------
Item 2(c).  Citizenship:

       Delaware, USA
--------------------------------------------------------------------------------
Item 2(d).  Title of Class of Securities:

       Trust units
--------------------------------------------------------------------------------
Item 2(e).  CUSIP Number:

       740215108
--------------------------------------------------------------------------------

Item 3.  If This Statement is Filed Pursuant to  Rule 13d-1(b),  or  13d-2(b) or
     (c), Check Whether the Person Filing is a:

     (a) [ ] Broker or dealer registered under Section 15 of the Exchange Act.

     (b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.

     (c) [ ] Insurance company as defined in Section  3(a)(19) of  the  Exchange
             Act.

     (d) [ ] Investment company registered under   Section  8 of  the Investment
             Company Act of 1940.

     (e) [X] An investment adviser in accordance with Rule  13d-1(b)(1)(ii)(E).



     (f) [ ] An employee benefit plan or endowment fund in accordance  with Rule
             13d-1(b)(1)(ii)(F).

     (g) [ ] A parent holding company or control person in accordance  with Rule
             13d-1(b)(1)(ii)(G).

     (h) [ ] A savings association as defined in  Section 3(b) of  the   Federal
             Deposit Insurance Act.

     (i) [ ] A church plan that is excluded from the definition of an investment
             company under Section 3(c)(14) of  the  Investment  Company Act  of
             1940.

     (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

Item 4.  Ownership.

     Provide  the  following  information  regarding  the  aggregate  number and
percentage of the class of securities of the issuer identified in Item 1.

     (a) Amount beneficially owned: 9,127,543

     (b) Percent of class: 5.72%

     (c) Number of shares as to which the person has:

          (i)   Sole power to vote or to direct the vote: 7,778,202

          (ii)  Shared power to vote or to direct the vote: 0

          (iii) Sole power to dispose or to direct the disposition of: 9,127,543

          (iv)  Shared power to dispose or to direct the disposition of: 0

Item 5.  Ownership of Five Percent or Less of a Class.

     If this  statement  is being  filed to report  the fact that as of the date
hereof the reporting  person has ceased to be the beneficial  owner of more than
five percent of the class of securities, check the following
        [ ]

Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.




     The investment  advisory  clients of the Reporting Person have the right to
receive dividends and sales proceeds from such securities.

Item 7.  Identification and Classification of the Subsidiary Which Acquired the
     Security Being Reported on by the Parent Holding Company.

         Not applicable.

Item 8.  Identification and Classification of Members of the Group.

         Not applicable.

Item 9.  Notice of Dissolution of Group.

         Not applicable.

Item 10. Certifications.

     By signing  below I certify  that,  to the best of my knowledge and belief,
the  securities  referred to above were  acquired  and are held in the  ordinary
course of business  and were not acquired and are not held for the purpose of or
with the effect of  changing  or  influencing  the  control of the issuer of the
securities  and were not  acquired and are not held in  connection  with or as a
participant in any transaction having that purpose or effect.

SIGNATURE

     After  reasonable  inquiry and to the best of my  knowledge  and belief,  I
certify that the information  set forth in this statement is true,  complete and
correct.

February 11, 2009

                                    /s/ Gracie V. Fermelia
                                    ----------------------
                                    Gracie V. Fermelia
                                    Chief Compliance Officer