NAL Resources manages approximately 47,000 (30,000 net to the Trust) boe per day and operates 85 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.
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. The Trust qualifies under the Canadian Income Tax Act as a mutual fund trust. Units of the Trust qualify as investments for Registered Retirement Savings Plans (RRSPs), Registered Education Savings Plans (RESPs), Deferred Profit Sharing Plans (DPSPs) and Registered Retirement Income Funds (RRIFs).
The Trust's objective is to achieve stable and sustainable distributions and above average rates of return to our unitholders by applying professional capabilities in all of our core areas. Through prudent development, we will optimize the return from our existing properties and continue to enhance recovery factors through operational and technical capabilities and the use of new technologies. We will continue to pursue the selective acquisition of new properties, and core areas that meet our acquisition criteria, enhance our strategic position and/or add value to our unitholders.