-----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, D0A72MFiWmwc6x4zc3qIqjao7jK/Uos5VrFUwCEHoQ9mGCIKkCzSY2Kyb4vd55Ri GpLwAlOq6valUgJnRFt3ow== 0000072633-09-000013.txt : 20090515 0000072633-09-000013.hdr.sgml : 20090515 20090515120126 ACCESSION NUMBER: 0000072633-09-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090430 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090515 DATE AS OF CHANGE: 20090515 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: 09830514 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 ek051509.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 15, 2009 -------------- 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 15, 2009 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 2009. 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 15, 2009 and disseminated through PR Newswire announcing the net income and results of North European Oil Royalty Trust for the second quarter of fiscal 2009. 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 15, 2009 EX-99 2 x99-0515.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES NET INCOME AND RESULTS FOR THE SECOND QUARTER OF FISCAL 2009 Red Bank, N.J. May 15, 2009 -- North European Oil Royalty Trust (NYSE-NRT) reported the net income and results for the second quarter of fiscal 2009 which appear below compared with the second quarter of fiscal 2008. 2nd Fiscal Qtr. 2nd Fiscal Qtr. Percentage Ended 4/30/09 Ended 4/30/08 Change -------------- -------------- ---------- German Royalties Received $9,424,837 $9,360,976 + 0.68% Net Income $9,122,900 $9,049,406 + 0.81% Net Income per Unit $0.99 $0.98 + 1.02% Distribution per Unit $0.99 $0.98 + 1.02% Net income in the second quarter of 2009 was higher than the second quarter of 2008 due to several factors. Completion of an audit review of the price calculations used by the operating companies for the period 2005-06 disclosed some errors by the operating companies in the average price calculation. The adjustment resulted in a one-time additional payment. This adjustment payment, when added to the higher royalties received under the OEG Agreement, more than offset the decline in royalties received under the Mobil Agreement. The OEG Agreement is the lower royalty rate agreement covering the entire Oldenburg concession and the Mobil Agreement is the higher royalty rate agreement covering Western Oldenburg only. 2nd Fiscal Qtr. 2nd Fiscal Qtr. Percentage Ended 4/30/09 Ended 4/30/08 Change -------------- -------------- ---------- Mobil Agreement: Gas Sales (Bcf)(1) 12.839 14.004 - 8.32% Gas Prices (Ecents/Kwh)(2) 2.7105 2.2876 +18.49% Gas Prices ($/Mcf)(3) $10.24 $10.10 + 1.39% OEG Agreement: Gas Sales (Bcf) 32.416 33.680 - 3.75% Gas Prices (Ecents/Kwh) 3.1818 2.3809 +33.64% Gas Prices ($/Mcf) $11.60 $10.33 +12.27% Average Euro Exchange Rate (4) $1.3101 $1.5391 -14.88% (1) Billion cubic feet (2) Euro cents per Kilowatt hour (3) Dollars per thousand cubic feet (4) Based on average exchange rates of cumulative royalty transfers Compared to the prior year, Trust expenses for the second quarter of fiscal 2009 decreased 10.76% to $302,134 from $338,549 in the second quarter of fiscal 2008 due to the timing of payments of costs related to the examination -4- of the German operating companies' royalty payments. For the quarter just ended, Trust interest income was minimal due to the substantial decline in interest rates applicable during the period. The previously declared distribution of 99 cents per unit will be paid on May 27, 2009 to owners of record as of May 15, 2009. Net income for the first six months of fiscal 2009 was higher than the first six months of fiscal 2008 due to a combination of average higher gas prices under both the Mobil and OEG Agreements, which offset the decline in gas sales and the impact of the lower average exchange rates. Six Months Six Months Percentage Ended 4/30/09 Ended 4/30/08 Change -------------- -------------- ---------- German Royalties Received $19,605,816 $16,576,059 +18.28% Net Income $18,969,369 $16,028,731 +18.35% Net Income per Unit $2.06 $1.74 +18.39% Distribution per Unit $2.05 $1.74 +17.82% 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-----