-----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, LlsHERp1fk5KMRjptPeRMeLhmh8qc2AZa4ulPCw4/UEH8/aCnbBt73ZtOWK+94qS zEO5rZUJaHDeFx2ZsPAORg== 0000072633-04-000017.txt : 20040813 0000072633-04-000017.hdr.sgml : 20040813 20040813133004 ACCESSION NUMBER: 0000072633-04-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040731 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040813 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: 04973092 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 ek081304.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): August 12, 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 August 12, 2004 and disseminated through PR Newswire announcing the earnings North European Oil Royalty Trust for the third quarter of fiscal 2004. Item 12. Results of Operations and Financial Condition. ----------------------------------------------- On August 12, 2004 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's earnings for the third 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: August 13, 2004 EX-99 2 x99-0813.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES EARNINGS FOR THE THIRD FISCAL QUARTER & THE NINE MONTH PERIOD Red Bank, N.J. August 12, 2004 -- North European Oil Royalty Trust (NYSE-NRT) announced that Trust net income for its third fiscal quarter ended July 31, 2004 was $3,351,901. This level of net income represents a decline of 22.9% from the net income for the prior year's equivalent period. The declines in gas sales and gas prices under both the higher royalty rate agreement covering western Oldenburg and the lower royalty rate agreement covering the entire Oldenburg concession combined to produce the sizeable drop in net income. The slight improvement in the average exchange rate only had a minor positive impact. Gas sales from western Oldenburg declined by 10.3% to 15.16 billion cubic feet ("Bcf"). Gas sales under the lower royalty rate agreement declined by 10.5% to 38.6 Bcf. The average prices for gas sold under the higher and lower royalty rate agreements dropped by 24.6% to 1.1276 Euro cents per Kilowatt hour ("Ecents/Kwh") and 15.3% to 1.1858 Ecents/Kwh, respectively. This decline was the most significant factor affecting royalties this quarter. Based on the value of the royalties at the times of transfer the average value of the Euro rose 4.7% to a dollar equivalent value of $1.2128 compared to $1.1586 in the third quarter of 2003. Using the average value for the Euro to convert German gas prices into more familiar terms yields average gas prices for the higher and lower royalty rate areas respectively of $3.90 and $4.03 per Mcf. NORTH EUROPEAN OIL ROYALTY TRUST Quarter Ended 7/31/04 7/31/03 German Royalties Received $ 3,506,720 $ 4,536,318 Net Income 3,351,901 4,352,137 Net Income Per Unit $ 0.38 $ 0.49 Nine Months Ended 7/31/04 7/31/03 German Royalties Received $11,942,458 $14,002,637 Net Income 11,344,703 13,401,047 Net Income Per Unit $ 1.27 $ 1.50 The Trust declared a distribution to unit owners of 37 cents per unit for the third fiscal quarter, making the total distribution for the nine month period $1.26 per unit compared to $1.50 for the same period last year. The distribution will be paid on August 25, 2004 to holders of record on August 13, 2004. Contact -- John H. Van Kirk, Managing Trustee, or John R. Van Kirk, Managing Director, telephone: (732) 741-4008, e-mail: NEORT@AOL.Com. -----END PRIVACY-ENHANCED MESSAGE-----