-----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, HNAt7LxHydSiuvFMoB7QDggCNeySDkTDJyBlNpQq2B5Adxx481AVqROKyMKhl8Nh qrblzy1fVnudrQpGqoS6oA== 0000072633-04-000011.txt : 20040514 0000072633-04-000011.hdr.sgml : 20040514 20040514141105 ACCESSION NUMBER: 0000072633-04-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040430 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040514 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: 04806396 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 ek051404.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): May 13, 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 May 13, 2004 and disseminated through PR Newswire announcing the earnings for the second quarter of fiscal 2004. Item 12. Results of Operations and Financial Condition. ----------------------------------------------- On May 13, 2004 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's earnings for the second 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: May 14, 2004 EX-99 2 ex990514.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES EARNINGS FOR SECOND QUARTER OF FISCAL 2004 Red Bank, N.J. May 13, 2004 -- North European Oil Royalty Trust (NYSE-NRT) reported that net royalty income for the second fiscal quarter ended April 30, 2004 declined by 14.8% to $3,858,689 compared to the prior year's equivalent period. This level of income permitted a distribution of 43 cents per unit payable on May 26, 2004. John R. Van Kirk, Managing Director, noted that this quarter's gross royalty income decreased by $624,747 or 13.3% from the prior year's equivalent period. The primary reasons behind the decrease in the amount of Trust royalties were the decline in gas sales and gas prices under both royalty agreements. Under the higher royalty rate agreement covering western Oldenburg gas sales declined by 15.1% from 20.3 to 17.3 billion cubic feet ("Bcf"). Gas prices declined by 8.6% from 1.3761 to 1.2583 Euro cents per Kwh ("Ecents/Kwh"). Under the lower royalty rate agreement covering the entire Oldenburg concession gas sales decreased by 14.3% from 52.9 to 45.3 Bcf. Gas prices declined 3.1% from 1.3051 to 1.2646 Ecents/Kwh. Based on the transfers of royalties from Germany to the U.S. during the quarter, the average value of the Euro under the higher and lower royalty rate agreements, was $1.2106 and $1.2105, increases of 12.3% and 11.2%, respectively. When we convert the average gas prices using the average exchange rates for the quarter into more common U.S. terminology, the average gas prices under both the lower and higher royalty rate agreements were $4.27 and $4.34 per thousand cubic feet, respectively. Compared to the prior year, Trust expenses for the second quarter of fiscal 2004 were higher due to the timing of the payment of the listing fees as well as additional legal expenses related to the increased compliance requirements arising out of the Sarbanes-Oxley Act of 2002. NORTH EUROPEAN OIL ROYALTY TRUST Quarter Ended 4/30/04 4/30/03 ------- ------- German Royalties Received $ 4,075,008 $ 4,699,755 Net Income 3,858,689 4,528,543 Net Income Per Unit $0.43 $0.51 Distribution Per Unit $0.43 $0.50 Six Months Ended 4/30/04 4/30/03 ------- ------- German Royalties Received $ 8,435,738 $ 9,466,319 Net Income 7,992,802 9,048,910 Net Income Per Unit $0.89 $1.01 Distribution Per Unit $0.89 $1.01 Contact -- John H. Van Kirk, Managing Trustee, or John R. Van Kirk, Managing Director, telephone: (732) 741-4008, e-mail: NEORT@AOL.Com. Website: WWW.NEORT.Com. -----END PRIVACY-ENHANCED MESSAGE-----