<SEC-DOCUMENT>0000072633-14-000008.txt : 20140214
<SEC-HEADER>0000072633-14-000008.hdr.sgml : 20140214
<ACCEPTANCE-DATETIME>20140214122638
ACCESSION NUMBER: 0000072633-14-000008
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20140131
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20140214
DATE AS OF CHANGE: 20140214
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: NORTH EUROPEAN OIL ROYALTY TRUST
CENTRAL INDEX KEY: 0000072633
STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792]
IRS NUMBER: 222084119
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-08245
FILM NUMBER: 14613397
BUSINESS ADDRESS:
STREET 1: P O BOX 456
STREET 2: 43 WEST FRONT STREET SUITE 19-A
CITY: RED BANK
STATE: NJ
ZIP: 07701
BUSINESS PHONE: 7327414008
MAIL ADDRESS:
STREET 1: P O BOX 456
STREET 2: 43 WEST FRONT STREET SUITE 19-A
CITY: RED BANK
STATE: NJ
ZIP: 07701
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ek021414.txt
<TEXT>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
February 14, 2014
-----------------
NORTH EUROPEAN OIL ROYALTY TRUST
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Commission File No. 1-8245
Delaware 22-2084119
----------------------- -----------------------
(State of organization) (IRS Employer I.D. No.)
Suite 19A, 43 West Front Street, Red Bank, N.J. 07701
----------------------------------------------------------------
(Address of principal executive offices)
732-741-4008
---------------------------------------------------
(Registrant's telephone number including area code)
Not Applicable
------------------------------------------------------------
Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
-2-
Item 2.02. Results of Operations and Financial Condition.
----------------------------------------------
On February 14, 2014 North European Oil Royalty Trust issued a
press release via PR Newswire announcing the Trust's net income
and results for the first quarter of fiscal 2014. Furnished
herewith is a copy of the press release, which is incorporated
by reference herein.
Item 9.01. Financial Statements and Exhibits.
----------------------------------
(c) Exhibits
The following exhibit is furnished herewith:
Exhibit 99. A press release dated February 14, 2014 and
disseminated through PR Newswire announcing the net income
and results for North European Oil Royalty Trust for the
first quarter of fiscal 2014.
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
NORTH EUROPEAN OIL ROYALTY TRUST
--------------------------------
(Registrant)
By: /s/ John R. Van Kirk
------------------------
John R. Van Kirk
Managing Director
Dated: February 14, 2014
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>x99-0214.txt
<TEXT>
-3-
Exhibit 99
PR NEWSWIRE
NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES NET INCOME
AND RESULTS FOR THE FIRST QUARTER OF FISCAL 2014
Red Bank, N.J. February 14, 2014 -- North European Oil Royalty Trust (NYSE-
NRT) reported the net income and results for the first quarter of fiscal 2014
which appear below compared with the first quarter of fiscal 2013.
1st Fiscal Qtr. 1st Fiscal Qtr. Percentage
Ended 1/31/2014 Ended 1/31/2013 Change
--------------- --------------- ----------
Total Royalty Income $5,295,533 $5,795,834 - 8.63%
Net Income $4,958,808 $5,473,010 - 9.40%
Distribution per Unit $0.54 $0.59 - 8.47%
The Trust receives nearly all of its royalties under two royalty agreements.
The Mobil Agreement is the higher royalty rate agreement and covers gas sales
from the western half of the Oldenburg concession. The OEG Agreement is the
lower royalty rate agreement and covers gas sales from the entire Oldenburg
concession. The decline in total royalty income in the first quarter of
fiscal 2014 as compared to the first quarter of fiscal 2013 primarily
resulted from the combination of lower gas sales and lower gas prices under
both the Mobil and OEG Agreements.
1st Fiscal Qtr. 1st Fiscal Qtr. Percentage
Ended 1/31/2014 Ended 1/31/2013 Change
--------------- --------------- ----------
Mobil Agreement
---------------
Gas Sales (Bcf)(1) 8.108 8.897 - 8.87%
Gas Prices (Ecents/Kwh)(2) 2.7458 2.9620 - 7.30%
Average Exchange Rate (3) 1.3597 1.3158 + 3.34%
Gas Royalties $3,479,344 $3,980,691 - 12.59%
OEG Agreement
-------------
Gas Sales (Bcf) 25.467 27.117 - 6.08%
Gas Prices (Ecents/Kwh) 2.7962 3.0363 - 7.91%
Average Exchange Rate 1.3604 1.3083 + 3.98%
Gas Royalties $1,604,867 $1,804,401 - 11.06%
(1) Billion cubic feet
(2) Euro cents per Kilowatt hour
(3) Based on average exchange rates of cumulative royalty transfers
-4-
Trust expenses for the first quarter of fiscal 2014 increased 3.61% or
$11,894 to $341,641 in comparison to $329,747 in the first quarter of fiscal
2013. The increase in expenses reflects costs associated with the biennial
examination of the operating companies in Germany.
The previously declared distribution of 54 cents per unit will be paid on
February 26, 2014 to owners of record as of February 14, 2014. For further
information contact John R. Van Kirk, Managing Director, at (732) 741-4008
or via e-mail at jvankirk@neort.com. The text of the Trust's press releases
along with other pertinent information is available on the Trust's website:
www.neort.com.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>