CALGARY--(CCNMatthews - May 10) - NAL Oil & Gas Trust (TSX:NAE.UN) (the "Trust") will pay a distribution of $0.16 per unit on June 15, 2005, to Unitholders of record on May 20. The units will begin trading ex- distribution on May 18. At its regularly scheduled meeting on May 9, 2005, the Board of Directors decided that barring any major fluctuations in commodity prices, the Trust will maintain the current distribution level for the months of June, July and August of this year. Trailing cash distributions for the past 12 months total $1.90 per unit, representing a 13.6% cash-on-cash yield based on the May 9, 2005 closing price of $13.99. 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".
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