-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LxepS9STeYcuGu1vLjA467ulLsva3Qt2eQh945uj8jlsbFo8ugw326vh16OQJUSl hRyGVDcdGcrAfpG9RasCDg== 0000072633-04-000005.txt : 20040213 0000072633-04-000005.hdr.sgml : 20040213 20040213170620 ACCESSION NUMBER: 0000072633-04-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040130 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040213 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: 04600245 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 8-K 1 ek021304.txt 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 11, 2004 ------------------- 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) This report consists of 3 pages. -2- Item 7. Financial Statements and Exhibits. ---------------------------------- (c) Exhibits Exhibit 99. A press release dated February 11, 2004 and disseminated through PR Newswire announcing the earnings for the first quarter of fiscal 2004. Item 12. Results of Operations and Financial Condition. ----------------------------------------------- On February 11, 2004 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's earnings for the first quarter of fiscal 2004 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 13, 2004 EX-99 3 ex990204.txt Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES RESULTS OF ANNUAL MEETING AND FIRST QUARTER EARNINGS Red Bank, N.J. February 11, 2004 -- North European Oil Royalty Trust (NYSE-NRT) reported that at the Annual Meeting of Unit Owners held today, the currently serving Trustees John H. Van Kirk, Robert P. Adelman, Samuel M. Eisenstat, Willard B. Taylor and Rosalie J. Wolf were re-elected to serve as Trustees. Earnings for the first three months of fiscal 2004 were also reported at the Annual Meeting, as indicated below with a comparison to earnings from the prior year's equivalent quarter: Three Months Ended Three Months Ended 1/31/04 1/31/03 ------- ------- German Royalties Received $ 4,360,730 $ 4,766,564 Net Income 4,134,113 4,520,367 Net Income Per Unit 46 cents 51 cents The Trust reported a net income of 46 cents per unit for the first quarter of fiscal 2004. The combined impact of lower gas sales and lower prices for gas sold under both the higher and lower royalty rate agreements was only partially offset by the significantly higher exchange rates that applied to the royalty transfers from Germany. Prices for gas sold from both the higher and lower royalty rate areas of the Oldenburg concession declined by 12.2% from 1.3487 Eurocents/Kwh ("Ecents/Kwh") to 1.1836 Ecents/Kwh and 7.6% from 1.3119 Ecents/Kwh to 1.2120 Ecents/Kwh, respectively in comparison to the prior year's equivalent period. When converted into more familiar terms using the applicable exchange rates, the average gas prices for gas sold under both the higher and lower royalty rate agreements was $4.18/Mcf. Gas sales from the higher royalty rate area of western Oldenburg declined by 12.9% to 18.16 billion cubic feet ("Bcf") compared to the first quarter of fiscal 2003. Overall gas sales covered under the lower royalty rate agreement declined by 13.1% to 46.59 Bcf compared to the first quarter of fiscal 2003. Based on the transfer of royalties during the quarter, the average value for the Euro increased by 18.1% from a dollar equivalent of 1.0385 for the first quarter of fiscal 2003 to 1.2269 for the quarter just ended. The distribution of 46 cents per unit previously declared will be paid February 25, 2004 to owners of record on February 13, 2004. For further information contact John H. Van Kirk, Managing Trustee or John R. Van Kirk, Managing Director, at (732) 741-4008 or via e-mail at NEORT@AOL.Com. -----END PRIVACY-ENHANCED MESSAGE-----