NAL Energy Corporation T.NAE

IR response to Insider Selling

[Al42]

Well I called IR yesterday to see if they would have any comment on the recent Insider Selling. Unfortunatly I could not reach them when I called and left a message. When she called me back I was on the other line and did not have time to get the full story but here is what she told me. She said it was an error by the TMX and was being reversed. Said something to the effect that it was an accounting issue that was communcicated to the market a while ago and that it was miscoded by the TMX.

If you go to the TMX site and look below where you enter the ticker you will see Insider Trade Correction Information, click on the blue Toronto Stock Exchange Insider Correction Summary File and you will see the correction.

CORRECTION_DATE SYMBOL TRADE_DATE CHANGE_IN_BUY_VOLUME CHANGE_IN_SELL_VOLUME CHANGE_IN_BUY_VALUE CHANGE_IN_SELL_VALUE NUM_BUY_CORRECTIONS NUM_SELL_CORRECTIONS CURRENCY2012-03-05 SOQ 2012-02-09 0 5500 0.00 15208.00 0 4 CAD2012-03-05 NAL 2012-02-13 0 500 0.00 7386.00 0 2 CAD2012-03-05 AAB 2012-03-02 30700 0 18420.00 0.00 1 0 CAD2012-03-05 NAE 2012-03-02 0 -96100 0.00 -727477.00 0 1 CAD2012-03-05 GIB.A 2012-03-05 -10000 0 -204200.00 0.00 1 0 CAD2012-03-05 RON 2012-03-05 -201600 0 -1884960.00 0.00 1 0 CAD

[terroir]

Thanks for the initiative. Let us know if they provide more colour on the issue.

[terroir]

I see that they only corrected the March 2 Posting: Markers (TSX Insider Summaries) for NAE from February 27 to March 5, 2012 (by trading date) [?] Marker Correction Trading Date Ticker Insider Volume Average Buy Price Average Sell Price Buy Sell

[Al42]

There may have been other corrections last week but I didn't check or there could be more corrections today or tomorrow. I will check and post if I see any more.

[Al42]

Looks like the rest of the Insider Sells are now listed in the correction summary file.Toronto Stock Exchange Insider Correction Summary File