NAL’s strategic direction for 2012 is to maximize cash flow through the development of low risk oil and liquids inventory while balancing sustaining capital with the monthly dividend commitment. The corporation’s 2012 development program is 100 percent allocated toward light oil and liquids, with approximately 85 percent focused on light oil drilling. Spending will be increased in NAL’s Cardium programs at Garrington, Westward Ho and Lochend. Southeast Saskatchewan remains a core oil producing and cash generating area for the corporation, but will be allocated slightly lower capital in 2012 to reduce the risk of wet weather interruptions experienced in 2011.

NAL’s business plan for 2012 improves the sustainability of the Corporation for the long-term and preserves the balance sheet for acquisition opportunities that will create incremental value for our shareholders.

NAL has based its 2012 plans on a US$95 WTI per barrel crude oil price, a .98 C$/US$ exchange rate and C$3.00 per GJ AECO natural gas price.

2012 Full Year Guidance Summary

Average total production (boe/d)	28,000 - 29,000
Capital expenditures ($MM)*	200
Wells drilled (Gross/Net)	124/62
Operating costs ($/boe)	11.50 - 12.00

Forward Looking Information

Please refer to the disclaimer on forward-looking information set forth under the Forward looking Statements section of our 2012 guidance press release. The disclaimer is applicable to all forward-looking information.

To download a pdf version of our 2012 guidance press release, click here.

Stock Information