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
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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
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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.
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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.
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(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
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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
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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
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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
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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.
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Estimated Combined Combined Combined Dollar
Royalties Royalties Royalties Royalties in
Anticipated in In Euros In Dollars Cents per Unit
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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
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-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.