CALGARY, ALBERTA--(Marketwire - Jan. 8, 2008) - NAL (TSX:NAE.UN) announces today the resignation of Jonathan Lexier as Chief Operating Officer, and has assigned his responsibilities to other members of the management team. After nearly nine years with NAL, Mr. Lexier has accepted a position as President and Chief Executive Officer of Highpine Oil and Gas Limited, an intermediate exploration and production company.

"We will miss Jonathan's contribution and thank him for his professional commitment to NAL" said Andrew Wiswell, President and CEO. "We wish him all the best in his new role".

Mr. Lexier has agreed to assist in completion of 2007 year-end processes and the transition of his role in the organization. His operational responsibilities, including safety and environment and non-operated joint ventures will be added to the role of Marlon McDougall, Vice President of Operations. Mr. McDougall joined NAL in December, 2006 and has been responsible for the Trust's operations and opportunities since that time. Keith Steeves, Vice President Finance and Chief Financial Officer will add insurance to his portfolio, while Mr. Wiswell will take over direct responsibility for land and for acquisition and divestiture initiatives.

As previously scheduled, NAL will issue guidance for 2008 on January 23rd and will release 2007 full-year operating and financial results on February 28th.

NAL Oil & Gas is an open-end investment trust 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 Western Canada and Ontario. Trust units trade on the Toronto Stock Exchange under the symbol "NAE.UN".

Contact Information:

NAL Oil & Gas
Gordon Currie
Manager, Investor Relations
(403) 294-3620 or Toll Free: 1-888-223-8792
Email: investor.relations@nal.ca