Press Release - FEB 23, 2006 - 23:59 ET

NAL Oil and Gas Trust Announces Fourth Quarter and Year-End 2005 Operating and Financial Results Release Date

CALGARY--(CCNMatthews - Feb. 23) - NAL Oil and Gas Trust (TSX:NAE.UN) (the "Trust") will release its fourth quarter and year-end 2005 operating and financial results after the market close on March 1, 2006.

NAL will discuss its results in a conference call and webcast to be held the following morning, March 2, 2006 at 8:00 AM MST (10:00 AM EST). To participate in the conference call, dial (403) 398.9531 in the Calgary area or (800) 814.4862 elsewhere in North America. A simultaneous webcast will be available at www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1377420 [1].

A replay of the conference call will be available for a period of one week beginning at 11:00 AM MST (1:00 PM EST) on March 2. To listen to the audio replay in the Toronto area, dial (416) 640.1917 and enter passcode 21178013 followed by the pound key. Outside the Toronto area, call toll-free at (877) 289.8525 and enter the same passcode.

NAL Oil and Gas Trust is a Calgary-based, conventional oil and gas royalty trust, created in May 1996. The Trust generates monthly cash distributions, paid to its Unitholders, by acquiring, developing, producing and selling crude oil, natural gas, and natural gas liquids. Its operations are located in Central Alberta, Southeast Saskatchewan and under Lake Erie, Ontario.

Contact Information:

NAL Oil and Gas Trust
Gordon Currie
Manager of Investor Relations
(403) 294-3620 or (888) 223-8792
Email: Investor.Relations@nal.ca [2]