-----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, RO+bR9Li1pn7hB94Yxj8PmxQoxVyqnnVl1LDCLHDMxTIlFsp08zRniuR5lKNOkHB bQX53/Qvsi8mietnbldUmQ== 0000072633-09-000019.txt : 20090812 0000072633-09-000019.hdr.sgml : 20090812 20090812142948 ACCESSION NUMBER: 0000072633-09-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090731 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090812 DATE AS OF CHANGE: 20090812 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: 091006376 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 ek081209.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): August 12, 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 August 12, 2009 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income and results for the third 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 August 12, 2009 and disseminated through PR Newswire announcing the net income and results of North European Oil Royalty Trust for the third 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: August 12, 2009 EX-99 2 x99-0812.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES NET INCOME AND RESULTS FOR THE THIRD QUARTER OF FISCAL 2009 Red Bank, N.J. August 12, 2009 -- North European Oil Royalty Trust (NYSE-NRT) reported the net income and results for the third quarter of fiscal 2009 which appear below compared with the third quarter of fiscal 2008. The previously declared distribution of 58 cents per unit will be paid on August 26, 2009 to owners of record as of August 14, 2009. Third Fiscal Third Fiscal Percentage Quarter Quarter Change Ended 7/31/09 Ended 7/31/08 ------------- ------------- ---------- German Royalties Received $5,466,337 $8,463,341 -35.41% Net Income $5,243,544 $8,226,859 -36.26% Net Income per Unit $0.57 $0.90 -36.67% Distribution per Unit $0.58 $0.89 -34.83% Net income in the third quarter of 2009 was lower than the third quarter 2008 due to lower gas prices and lower average exchange rates which contributed to the decline in royalty income. Gas sales were virtually unchanged. The Trust receives nearly all of its royalties under two royalty agreements. The Mobil Agreement is the higher royalty rate agreement and covers gas sales from the western half of the Oldenburg concession. The OEG Agreement is the lower royalty rate agreement and covers gas sales from the entire Oldenburg concession. Third Fiscal Third Fiscal Percentage Quarter Quarter Change Ended 7/31/09 Ended 7/31/08 ------------- ------------- ---------- Mobil Agreement: Gas Sales (Bcf)(1) 12.290 12.314 - 0.20% Gas Prices (Ecents/Kwh)(2) 1.8579 2.4704 -24.79% Gas Prices ($/Mcf)(3) $ 7.52 $11.16 -32.62% OEG Agreement: Gas Sales (Bcf) 31.205 31.045 + 0.51% Gas Prices(Ecents/Kwh) 2.1681 2.5699 -15.63% Gas Prices ($/Mcf) $ 8.48 $11.35 -25.29% Average Euro Exchange Rate (4) $1.4024 $1.5702 -10.69% (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 -4- Interest income was lower reflecting the decline in interest rates applicable during the period. For the quarter just ended, Trust interest income decreased 93.13% to $1,191 from $17,332 in the third quarter of fiscal 2008. Trust expenses for the third quarter of fiscal 2009 were $223,984, 11.75% lower than the third quarter of fiscal 2008, largely due to start-up costs and early work by the Trust's new German counsel regarding issues raised in the prior year during the verification of the operating companies' royalty calculations for the period of 2005 through 2006. Net income for the first nine months of fiscal 2009 was lower than the first nine months of fiscal 2008 due primarily to the reduction in interest income received during the first nine months of fiscal 2009. Nine Months Nine Months Percentage Ended 7/31/09 Ended 7/31/08 Change ------------- ------------- ---------- German Royalties Received $25,072,153 $25,039,400 + 0.13% Net Income $24,212,913 $24,255,590 - 0.18% Net Income per Unit $2.63 $2.64 - 0.38% Distribution per Unit $2.63 $2.63 0.00% Contact: John R. Van Kirk, Managing Director, (732) 741-4008, or via e-mail at jvankirk@neort.com. -----END PRIVACY-ENHANCED MESSAGE-----