NAL Oil & Gas Trust Announces October Distribution and Intention to Announce Corporate Conversion Plans

Company News

NAL Oil & Gas Trust (TSE:NAE.UN) reported that the company plans to pay a distribution of $0.09 per unit on November 15, 2010, to Unit holders of record on October 22, 2010.

NAL Oil & Gas Trust (TSX:NAE.UN) reported that the company plans to pay a distribution of $0.09 per unit on November 15, 2010, to Unit holders of record on October 22, 2010.

The current monthly distribution annualized totals $1.08 per unit, and represents a 8.7% cash-on-cash yield based on the October 12, 2010 closing unit price of $12.43. NAL’s Board of Directors sets distribution levels taking into consideration commodity prices, forecast cash flow of the Trust, financial market conditions, availability of financing, internal capital investment opportunities and taxability.

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