CALGARY--(CCNMatthews - Nov. 9) - NAL Oil & Gas Trust (the "Trust") (TSX:NAE.UN) will pay a distribution of $0.16 per unit on December 15, 2006, to Unitholders of record on November 22. The units will begin trading ex-distribution on November 20.
The $0.16 rate represents a $0.03 per unit reduction from the previous month's rate of $0.19 per unit in response to lower commodity prices, reversing the $0.03 per unit increase introduced in October 2005 in response to higher commodity prices.
The Trust sets distributions based upon commodity prices, financial market conditions, internal capital investment opportunities and the resulting impact on taxability and payout ratios. The Trust develops an annual forecast, which is updated regularly by management. The Board of Directors sets distributions at a level it believes will be sustainable for a period of time and formally reviews distribution levels quarterly.
Trailing cash distributions for the past 12 months total $2.25 per unit, representing a 16.0% cash-on-cash yield based on the November 8, 2006 closing unit price of $14.08.
NAL Oil & Gas Trust is an open-end investment trust 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".
Gord Currie
Manager, Investor Relations
(403) 294-3620 or Toll Free: (888) 223-8792
Fax: (403) 515-3407
Email: investor.relations@nal.ca [1]
Website: www.nal.ca [2]
Links:
[1] mailto:investor.relations@nal.ca
[2] http://www.nal.ca