-----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, ExkrigHXq8e8EwCtov77tnPa4Sr/r40LHPNjZauU2b4t0Vnpu10M4kn5ZrUJgIcm a3fkF+NrhStNq07IHVWuOg== 0000072633-06-000028.txt : 20061115 0000072633-06-000028.hdr.sgml : 20061115 20061115150331 ACCESSION NUMBER: 0000072633-06-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061031 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061115 DATE AS OF CHANGE: 20061115 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: 061219596 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 ek111506.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): November 15, 2006 -------------------- 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 November 15, 2006 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's earnings for the fourth quarter and twelve months of fiscal 2006. Furnished herewith is a copy of the press release, which is incorporated by reference herein. The information in this Item 2.02, including Exhibit 99 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing. Item 9.01. Financial Statements and Exhibits. ---------------------------------- (c) Exhibits The following exhibit is furnished herewith: Exhibit 99. A press release dated November 15, 2006 and disseminated through PR Newswire announcing the earnings of North European Oil Royalty Trust for the fourth quarter and twelve months of fiscal 2006. 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: November 15, 2006 EX-99 2 x99-1115.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES EARNINGS FOR THE FOURTH FISCAL QUARTER & THE TWELVE-MONTH PERIOD Red Bank, N.J. November 15, 2006 -- North European Oil Royalty Trust (NYSE- NRT) reported that royalty revenues for the fourth quarter of its fiscal year ended October 31, 2006 increased by 74.3% from those for the same period last year. All comparisons are to the prior year's equivalent period. The combination of higher gas prices, higher gas sales and higher average exchange rates under both royalty agreements covering the Oldenburg concession resulted in the increase in royalty income and the proposed distribution. Under the higher royalty rate agreement covering western Oldenburg, average gas prices increased by 36.7%, from 1.5397 Euro cents per kilowatt hour ("Ecents/Kwh") to 2.1046 Ecents/Kwh. Under the lower royalty rate agreement covering the entire Oldenburg concession, average gas prices increased 36.0%, from 1.5874 Ecents/Kwh to 2.1582 Ecents/Kwh. Gas sales for western Oldenburg for the quarter increased 16.2% from 14.72 billion cubic feet ("Bcf") to 17.11 Bcf. Overall Oldenburg gas sales for the quarter increased by 30.6% from 31.59 Bcf to 41.26 Bcf. The combination of the uninterrupted operation of the desulfurization plant during the quarter just ended and the impact of the additional compressor units installed late in fiscal 2005 appear to account for much of the increase in gas sales. Based upon transfers during the quarter, the Euro had an average dollar equivalent value of $1.2677, 4.6% higher than last year's dollar equivalent value of $1.2122. Using their respective average exchange rates to convert German gas prices into familiar terms yields average prices of $7.66 and $7.69 per Mcf under the higher and lower royalty rate agreements, respectively. NORTH EUROPEAN OIL ROYALTY TRUST - (Unaudited) ---------------------------------------------- Quarter Ended 10/31/06 10/31/05 - ------------- ----------- ----------- German Royalties Received $ 7,284,973 $ 4,178,412 Net Income 7,111,192 4,030,630 Net Income Per Unit $ 0.77 $ 0.44 Nine Months Ended 10/31/06 10/31/05 - ----------------- ----------- ----------- German Royalties Received $31,079,122 $21,085,039 Net Income 30,258,944 20,222,814 Net Income Per Unit $ 3.29 $ 2.20 The Trust declared a distribution to owners of 78 cents per unit for the fourth fiscal quarter to be paid on November 29, 2006 to owners of record on November 10, 2006. Net income per unit for the 2006 fiscal year was $3.29 compared to $2.20 for the prior year, an increase of 49.5%. -4- For further information contact Robert P. Adelman, Managing Trustee, or John R. Van Kirk, Managing Director, at (732) 741-4008 or e-mail at neort@aol.com. -----END PRIVACY-ENHANCED MESSAGE-----