-----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, FDU9umJFM60lpF99mXp23EO9MQ9ry5VihV0+XB5bs6czH2JWMxaUV77KlriJjdko X2a4gMbCcm4GOhPCQ5zTow== 0000072633-05-000012.txt : 20050513 0000072633-05-000012.hdr.sgml : 20050513 20050513121541 ACCESSION NUMBER: 0000072633-05-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050430 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050513 DATE AS OF CHANGE: 20050513 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: 05827517 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 ek051305.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, 2005 -------------------- 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 4 pages. -2- Item 2.02. Results of Operations and Financial Condition. ---------------------------------------------- On May 12, 2005 North European Oil Royalty Trust issued a press release via PR Newswire detailing the Trust's earnings for the second quarter of fiscal 2005. Item 9.01. Financial Statements and Exhibits. ---------------------------------- (c) Exhibits Exhibit 99. A press release dated May 12, 2005 and disseminated through PR Newswire announcing the Trust's earnings for the second quarter of fiscal 2005. 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 13, 2005 EX-99 2 x99-0513.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES EARNINGS FOR SECOND QUARTER OF FISCAL 2005 Red Bank, N.J. May 12, 2005 -- North European Oil Royalty Trust (NYSE-NRT) reported that net royalty income for the second fiscal quarter ended April 30, 2005 increased by 59% to $6,137,395 compared to the prior year's equivalent period. This level of income permitted a distribution of 69 cents per unit payable on May 25, 2005. John R. Van Kirk, Managing Director, reported that as part of their reconciliation process, the operating companies (German subsidiaries of ExxonMobil and the Royal Dutch/Shell Group) generally make adjustments for under or overpayments of the prior calendar year's royalties during the Trust's second fiscal quarter. For the quarter just ended, this adjustment accounted for 7 cents out of the total distribution of 69 cents per unit. Excluding the impact of the positive royalty adjustment, royalties paid to the Trust based on actual Oldenburg gas sales during the quarter just ended increased 34.6% from $4,115,697 to $5,538,626. A combination of higher gas prices and higher exchange rates along with a slight increase in gas sales from western Oldenburg more than offset the overall decline in gas sales and resulted in the increase in the distribution payable. For the quarter just ended the average price of gas sold under the higher royalty rate agreement covering western Oldenburg increased 21.3% from 1.2583 Eurocents/Kwh ("Ecents/Kwh") to 1.5258 Ecents/Kwh. For the same period, the average price of gas sold under the lower royalty rate area covering the entire concession increased 26.7% from 1.2646 Ecents/Kwh to 1.6018 Ecents/Kwh. Based on the transfers of royalties from Germany to the U.S. during the quarter, the average value of the Euro increased 7.3% from $1.2127 to $1.3009. Gas sales under the higher royalty rate agreement covering western Oldenburg increased 2.1% to 17.639 billion cubic feet ("Bcf") compared to the second quarter of fiscal 2004. Overall gas sales covered by the lower royalty rate agreement declined 5.1% to 43.045 Bcf in comparison for the same period. Compared to the prior year, Trust expenses for the second quarter of fiscal 2005 were lower primarily due to the timing of the payment of the NYSE listing fees. NORTH EUROPEAN OIL ROYALTY TRUST Quarter Ended 4/30/05 4/30/04 German Royalties Received $ 6,332,292 $ 4,075,008 Net Income 6,137,395 3,858,689 Net Income Per Unit $ 0.69 $ 0.43 Distribution Per Unit 0.69 0.43 Nine Months Ended 4/30/05 4/30/04 German Royalties Received $11,487,103 $ 8,435,738 Net Income 10,972,509 7,992,802 Net Income Per Unit $ 1.23 $ 0.89 Distribution Per Unit 1.23 0.89 -4- 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-----