-----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, DwXIXGN21UpjW2Orxpzdb0RKoafh51bPVmK50xcMpVN99wwsHeYXyPr74mxVdVQA 6ca4CcSqFSqCtz3o/X/AYg== 0000072633-07-000004.txt : 20070214 0000072633-07-000004.hdr.sgml : 20070214 20070214133309 ACCESSION NUMBER: 0000072633-07-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070131 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070214 DATE AS OF CHANGE: 20070214 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: 07617557 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 ek021407.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 12, 2007 -------------------- 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 February 12, 2007 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the first quarter of fiscal 2007. 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 February 12, 2007 and disseminated through PR Newswire announcing the net income for North European Oil Royalty Trust for the first quarter of fiscal 2007. 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 hereunto duly authorized. NORTH EUROPEAN OIL ROYALTY TRUST -------------------------------- (Registrant) By: /s/ John R. Van Kirk ------------------------ John R. Van Kirk Managing Director Dated: February 14, 2007 EX-99 2 x99-0212.txt Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES RESULTS OF ANNUAL MEETING AND FIRST QUARTER NET INCOME Red Bank, N.J. February 12, 2007 -- North European Oil Royalty Trust (NYSE-NRT) reported that at the Annual Meeting of Unit Owners held today the currently serving Trustees, Robert P. Adelman, Samuel M. Eisenstat, Lawrence A. Kobrin, Willard B. Taylor and Rosalie J. Wolf, were re-elected. Net income for the first three months of fiscal 2007 was also reported at the Annual Meeting, as indicated below with a comparison to net income from the prior year's equivalent quarter: Three Months Ended Three Months Ended 1/31/07 1/31/06 ------- ------- German Royalties Received $ 8,483,387 $ 8,184,669 Net Income 8,260,186 7,944,609 Net Income Per Unit 90 cents 87 cents Units Outstanding at End of Period 9,190,590 9,184,026 The Trust reported net income of 90 cents per unit for the first quarter of fiscal 2007. While gas sales declined in the period from October through December 2006 due to the unseasonably warm weather in Germany, this decline was offset by the increases in gas prices. As a result, royalty income in Euros was virtually flat. However, the higher average exchange rate increased royalty income when converted to dollars and permitted the higher distribution for the first quarter of fiscal 2007. For the quarter just ended the amount of gas sold under the higher royalty rate agreement (the "Mobil Agreement") declined 10.38% to 17.512 billion cubic feet ("Bcf") from 19.540 Bcf in the first quarter of fiscal 2006. Under the Mobil agreement average gas prices for the first quarter increased 10.84% to 2.2673 Eurocents/Kwh ("Ecents/Kwh") from 2.0456 Ecents/Kwh in the first quarter of 2006. For the quarter just ended the amount of gas sold under the lower royalty rate agreement (the "OEG Agreement") declined 12.32% to 41.976 Bcf from 47.876 Bcf in the first quarter of fiscal 2006. Average gas prices under the OEG Agreement increased 13.08% to 2.4017 Ecents/Kwh from 2.1240 Ecents/Kwh in the first quarter of 2006. Based upon the Euro conversion rates applied to the amount of royalties in Euros received by the Trust during the quarter just ended, the average values of the Euro under the Mobil and OEG Agreements increased 9.38% and 7.65% to dollar equivalent values of $1.3058 and $1.3044, respectively. When converted into more familiar terms using the applicable exchange rates, the average gas prices for gas sold under the Mobil and OEG Agreements were $8.51/Mcf and $8.80/Mcf, respectively. The corresponding prices for the first quarter of fiscal 2006 were $7.02/Mcf and $7.23/Mcf, respectively. The distribution of 89 cents per unit previously declared will be paid on February 28, 2007 to owners of record as of February 13, 2007. For further information contact John R. Van Kirk, Managing Director, at (732) 741-4008 or via e-mail at neort@aol.com. -----END PRIVACY-ENHANCED MESSAGE-----