-----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, IWs/WzI1UuygefHA3EHYVa0GJQK/EfE2b3KMCNgT/AefxxlO83UkWNMvzL0+lQZp 9TvBxYED0YiE9477xmHhtQ== 0000072633-08-000012.txt : 20080514 0000072633-08-000012.hdr.sgml : 20080514 20080514103955 ACCESSION NUMBER: 0000072633-08-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080430 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080514 DATE AS OF CHANGE: 20080514 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: 08829979 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 ek051408.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, 2008 -------------- 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 May 13, 2008 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income and results for the second quarter of fiscal 2008. 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 May 13, 2008 and disseminated through PR Newswire announcing the net income and results of North European Oil Royalty Trust for the second quarter of fiscal 2008. 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, 2008 EX-99 2 x99-0514.txt Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES NET INCOME AND RESULTS FOR THE SECOND QUARTER OF FISCAL 2008 Red Bank, N.J. May 13, 2008 -- North European Oil Royalty Trust (NYSE-NRT) reported the net income and results for the second quarter of fiscal 2008 which appear below compared with the second quarter of fiscal 2007. Second Fiscal Second Fiscal Percentage Quarter Quarter Change Ended 4/30/08 Ended 4/30/07 ------------- ------------- ---------- German Royalties Received $9,360,976 $7,544,543 +24.07% Net Income $9,049,406 $7,333,441 +23.40% Net Income per Unit $0.98 $0.80 +22.50% Distribution per Unit $0.98 $0.80 +22.50% Net income in the second quarter of 2008 was higher than the second quarter 2007 due to a combination of higher gas prices and higher average exchange rates which more than offset the decline in gas sales. Second Fiscal Second Fiscal Percentage Quarter Quarter Change Ended 4/30/08 Ended 4/30/07 ------------- ------------- ---------- Mobil Agreement: Gas Sales(Bcf)(1) 14.004 Bcf 17.125 Bcf -18.22% Gas Prices(Ecents/Kwh)(2) 2.2876 Ecents/Kwh 1.9950 Ecents/Kwh +14.66% Gas Prices($/Mcf)(3) $10.10/Mcf $7.64/Mcf +32.28% OEG Agreement: Gas Sales(Bcf)(1) 33.680 Bcf 40.518 Bcf -16.88% Gas Prices(Ecents/Kwh)(2) 2.3809 Ecents/Kwh 2.3038 Ecents/Kwh +3.35% Gas Prices($/Mcf)(3) $10.33/Mcf $8.60/Mcf +20.20% Average Exchange Rate $1.5391 $1.3313 +15.61% (1) Billion cubic feet (2) Euro cents per Kilowatt hour (3) Dollars per thousand cubic feet Compared to the prior year, Trust expenses for the second quarter of fiscal 2008 increased 26.18% to $338,549 from $268,312 in the second quarter of fiscal 2007 due to increased professional and legal costs associated with the biennial review of the German operating companies. For the quarter just ended, Trust interest income decreased 52.84% to $26,979 from $57,210 in the second quarter of fiscal 2007 due to reduced funds available for investment and lower interest rates. The previously declared distribution of 98 cents per unit will be paid on May 28, 2008 to owners of record as of May 16, 2008. Net income for the first six months of fiscal 2008 was higher than the first six months of fiscal 2007 due to a combination of higher gas prices under the Mobil Agreement (the higher royalty rate agreement covering Western Oldenburg) and higher average exchange rates under both the Mobil Agreement and the OEG Agreement (the lower royalty rate agreement covering the entire Oldenburg concession). This combination more than offset lower gas prices under the OEG Agreement and the decline in gas sales. Six Months Six Months Percentage Ended 4/30/08 Ended 4/30/07 Change ------------- ------------- ---------- German Royalties Received $16,576,059 $16,027,930 +3.42% Net Income $16,028,731 $15,593,627 +2.79% Net Income per Unit $1.74 $1.70 +2.35% Distribution per Unit $1.74 $1.69 +2.96% For further information contact John R. Van Kirk, Managing Director, at (732) 741-4008 or via e-mail at jvankirk@neort.com. Website: www.neort.com. -----END PRIVACY-ENHANCED MESSAGE-----