Ubuntu Lucid template creation
A reference for a tutorial: Shadows of epiphany weblog - Ubuntu 10.04 OpenVZ Templates
Note: Ready-to-use Ubuntu Lucid 10.04 templates are available here: OpenVZ Wiki Precreated Templates
Note #2: Recent Lucid updates break networking in the precreated template. To fix it, change the lines in /etc/init/networking.conf that read "start on (local-filesystems and stopped udevtrigger)" to "start on local-filesystems".