0000072633-11-000028.txt : 20111215
0000072633-11-000028.hdr.sgml : 20111215
20111215112052
ACCESSION NUMBER: 0000072633-11-000028
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20111031
ITEM INFORMATION: Other Events
FILED AS OF DATE: 20111215
DATE AS OF CHANGE: 20111215
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: 111262709
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
ek121511.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):
December 13, 2011
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NORTH EUROPEAN OIL ROYALTY TRUST
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(Exact name of Registrant as specified in its charter)
Commission File No. 1-8245
Delaware 22-2084119
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(State of organization) (IRS Employer I.D. No.)
Suite 19A, 43 West Front Street, Red Bank, N.J. 07701
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(Address of principal executive offices)
732-741-4008
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(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 8.01. Other Events.
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The Trust, in conjunction with a parallel royalty holder,
periodically engages German accountants to review the methods of
calculation of royalties used by ExxonMobil Production
Deutschland GmbH (EMPG) and its affiliates. The accountants'
report covering the years 2007-2008 noted that in 2008, NV
Nederlandse Gasunie (the state owned Dutch gas distribution
company) completed its purchase of the interest held by BEB
Erdgas und Erdol GmbH (BEB), an affiliate of EMPG, in the North
German gas distribution and transmission pipeline system. Based
upon advice of its German counsel, the Trust, along with the
parallel royalty holder with a similar royalty agreement,
asserted a claim for royalties on the amounts received from such
sale. Efforts to resolve the claim were not successful. The
parallel royalty holder filed an action in the District Court of
Hannover, Germany, Civil Chamber against Oldenburgische
Erdolgesellschaft GmbH, an affiliate of BEB. Subsequently,
German counsel advised the Trustees that on December 31, 2011 the
prescription, or statute of limitations, period for a claim would
expire. In the face of that pending expiration, and after
unsuccessfully seeking a waiver of the statute of limitations,
the Trustees, on December 13, 2011, instructed German counsel to
file an application to join as a party plaintiff to the complaint
previously filed by the parallel royalty holder. In joining the
existing action, the Trust seeks a royalty on sales proceeds in
the amount of Euros 5.66 million. Based on the advice of German
counsel, the Trust believes it will be permitted to join as a
party to the existing action and that there are reasonable
grounds to support the claim. However, there can be no
assurance that the joinder will be permitted or that any
recovery will be obtained.
SIGNATURES
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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: December 15, 2011