NAL Resources manages approximately 48,000 (31,000 net to the Trust) boe per day and operates 90 percent of this production on behalf of NAL Oil & Gas Trust (the "Trust") and a subsidiary of Manulife Financial Corporation–a major Canadian financial institution. There are currently over 350 dedicated team members working at NAL. Our core areas include southeastern Saskatchewan, central Alberta, northeastern British Columbia and Lake Erie, Ontario. NAL operates five gas plants. The Sylvan Lake, Brent, Hanna and Sturgeon Lake gas plants are in Alberta and the Nottingham gas plant is located in Saskatchewan.

The Trust is a public entity traded on the Toronto Stock Exchange as NAE.UN, and was created in 1996 from assets that were previously owned by a number of insurance companies including North American Life (NAL).

2010 Guidance
NAL’s capital program for 2010 has been designed to be scalable and flexible in response to uncertain commodity price and market conditions. NAL is planning a $175 million capital program and expects to drill 137 gross wells. The Trust controls over 90 percent of the capital expenditures in 2010 and is not facing material land expiries, providing significant flexibility over timing and scale of the program. NAL forecasts Trust production to average 29,500 - 30,500 boe per day in 2010 and will focus 80 percent of its capital on oil projects during 2010. 

Core Properties
NAL's most concentrated core areas are in central Alberta, which offers multi-zone potential, and southeast Saskatchewan, where NAL has substantially increased its asset base since the Trust's inception.

2010 Production Mix
Our 2010 production outlook projects an equal weighting in crude oil/natural gas liquids and natural gas. Our Alberta operations produce a mixture of liquid-rich natural gas and light, sweet oil from multiple geological formations. In Saskatchewan, we produce light and sweet crude oil.

Note: Based on mid-point of full year guidance of 23,500 boe/d 

Reserves
For detailed information about our reserves as of December 31, 2008, please review page 5 of our 2008 year-end media release. To download the media release, click here.