CALGARY--(CCNMatthews - March 31) - 

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE 
UNITED STATES

NAL Oil & Gas Trust (TSX:NAE.UN) today filed with Canadian securities 
authorities its Annual Information Form ("AIF") for the year ended 
December 31, 2004 on the System for Electronic Document Analysis and 
Retrieval ("SEDAR"). The AIF contains the annual disclosure and reports 
relating to reserves data and other oil and gas information required 
pursuant to National Instrument 51-101 Standards of Disclosure for Oil 
and Gas Activities (Forms 51-101F1, F2 and F3). NAL also filed its 
audited consolidated annual financial statements and related documents. 
Copies of these filed documents may be obtained at www.sedar.com, the 
Trust's website at www.nal.ca, or by sending an e-mail request to 
investor.relations@nal.ca.

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:

NAL Oil & Gas Trust
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