0000072633-14-000004.txt : 20140203 0000072633-14-000004.hdr.sgml : 20140203 20140203102921 ACCESSION NUMBER: 0000072633-14-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140131 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140203 DATE AS OF CHANGE: 20140203 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: 14566811 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 ek020314.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): January 31, 2014 ------------------ 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 January 31, 2014 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's distribution for the first quarter of fiscal 2014. Furnished herewith is a copy of the press release, which is incorporated by reference herein. Item 9.01. Financial Statements and Exhibits. ---------------------------------- (c) Exhibits The following exhibit is furnished herewith: Exhibit 99. A press release dated January 31, 2014 and disseminated through PR Newswire announcing the distribution for North European Oil Royalty Trust for the first quarter of fiscal 2014. 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: February 3, 2014 EX-99 2 x99-0203.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE DISTRIBUTION FOR THE FIRST QUARTER OF FISCAL 2014 Red Bank, N.J. January 31, 2014 The Trustees of North European Oil Royalty Trust (NYSE-NRT) today announced a quarterly distribution of $0.54 per unit for the first quarter of fiscal 2014, payable on February 26, 2014 to holders of record on February 14, 2014. Natural gas sold during the fourth calendar quarter of 2013 is the primary source of royalty income on which the February distribution is based. John R. Van Kirk, Managing Director, reported that this year's quarterly distribution of $0.54 per unit is 8.47%, or $0.05 per unit, lower than the distribution of $0.59 per unit for the first quarter of fiscal 2013. The combination of lower gas sales and lower gas prices under both the Mobil and OEG royalty agreements caused the decline in royalty income. 1st Fiscal Qtr. 1st Fiscal Qtr. Percentage Ended 1/31/2014 Ended 1/31/2013 Change --------------- --------------- ---------- Mobil Agreement --------------- Gas Sales (Bcf)(1) 8.108 8.897 - 8.87% Gas Prices (Ecents/Kwh)(2) 2.7458 2.9620 - 7.30% Average Exchange Rate (3) 1.3597 1.3158 + 3.34% Gas Royalties $3,479,344 $3,980,691 - 12.59% OEG Agreement ------------- Gas Sales (Bcf) 25.467 27.117 - 6.08% Gas Prices (Ecents/Kwh) 2.7962 3.0363 - 7.91% Average Exchange Rate 1.3604 1.3083 + 3.98% Gas Royalties $1,604,867 $1,804,401 - 11.06% (1) Billion cubic feet (2) Euro cents per Kilowatt hour (3) Based on average exchange rates of cumulative royalty transfers The table below shows an estimate of the amount of royalties anticipated to be received in the second quarter of fiscal 2014 based on the actual amount of royalties that were payable to the Trust for the fourth calendar quarter of 2013. Amounts in dollars are based on the current exchange rate of $1.3555 per Euro. Actual royalty income in dollars is valued based on the exchange rate on the days funds are transferred. ------------------------------------------------------------------------------ Estimated Combined Combined Combined Dollar Royalties Royalties Royalties Royalties in Anticipated in In Euros In Dollars Cents per Unit ------------------------------------------------------------------------------ February Euros 1,290,642 $1.749,465 $0.19 March Euros 1,290,642 $1.749,465 $0.19 April Euros 1,290,642 $1.749,465 $0.19 ------------------------------------------------------------------------------ -4- The cumulative 12-month distribution, which includes this February distribution and the three prior quarterly distributions, is $2.20 per unit. This 12-month cumulative distribution is 7.95% or $0.19 per unit lower than the prior 12-month distribution of $2.39 per unit. The Trust makes quarterly distributions to unit owners during the months of February, May, August and November. Contact -- John R. Van Kirk, Managing Director, telephone: (732) 741-4008, e-mail: jvankirk@neort.com. The text of the Trust's press releases along with other pertinent information is available at the Trust's website: www.neort.com.