CALGARY--(CCNMatthews - Oct. 13) - NAL Oil & Gas Trust (TSX:NAE.UN) (the "Trust") will pay
a distribution of $0.16 per unit on November 15, 2004 to Unitholders of record on October 22.
The ex-distribution date is October 20.

Trailing cash distributions for the past 12 months total $1.83 per unit, representing a
12.75% cash-on-cash yield based on the October 12, 2004 closing price of $14.35.

NAL seeks to provide its Unitholders with stable, reliable and predictable distributions.
Following eighteen consecutive months of distributing $0.15 per unit and month, the Trust
raised the monthly distribution to $0.16 per unit effective with the September 2004 payout.
It is anticipated that the current level of distributions will be maintained for the
foreseeable future.

NAL Oil & Gas Trust is an open-end investment trust founded in May 1996 that generates
distributions through the acquisition, development, production and marketing of oil, natural
gas and natural gas liquids. The Trust owns high quality assets in Alberta, Saskatchewan and
Ontario. Trust units trade on the Toronto Stock Exchange under the symbol "NAE.UN".

Contact Information:

Anne-Marie Buchmuller
Manager, Investor Relations
(403) 294-3620 or Toll Free: 888-223-8792
Fax: (403) 294-3699
Email: Investor.Relations@nal.ca
Website: www.nal.ca