0000072633-15-000002.txt : 20150202 0000072633-15-000002.hdr.sgml : 20150202 20150202134351 ACCESSION NUMBER: 0000072633-15-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150130 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150202 DATE AS OF CHANGE: 20150202 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: 15566238 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 ek020215.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 30, 2015 ------------------ 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 30, 2015 North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's distribution for the first quarter of fiscal 2015. 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 30, 2015 and disseminated through PR Newswire announcing the distribution for North European Oil Royalty Trust for the first quarter of fiscal 2015. 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 2, 2015 EX-99 2 x99-0202.txt -3- Exhibit 99 PR NEWSWIRE NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE DISTRIBUTION FOR THE FIRST QUARTER OF FISCAL 2015 Red Bank, N.J. January 30, 2015 - The Trustees of North European Oil Royalty Trust (NYSE-NRT) today announced a quarterly distribution of $0.35 per unit for the first quarter of fiscal 2015, payable on February 25, 2015 to holders of record on February 13, 2015. Natural gas sold during the fourth calendar quarter of 2014 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 $0.35 per unit is 35.19%, or $0.19 per unit, lower than the distribution of $0.54 per unit for the first quarter of fiscal 2014. Preliminary data suggests that the reduction in this quarter's distribution resulted from a combination of lower gas sales, lower gas prices and lower average exchange rates. Specific details will be available in the earnings press release scheduled for publication on or about February 13, 2015. Trust royalty payments for each fiscal quarter are based on actual royalties payable for the preceding calendar quarter. In the final month of the Trust's fiscal quarter, the operating companies determine the actual amount of royalties that should have been paid to the Trust and compare this amount to the amount actually paid. Any underpayment would be added to the amount of royalties paid during the final month of the current fiscal quarter. Any overpayment would be deducted from the amount of royalties to be paid in the first month of the Trust's next fiscal quarter. The operating companies may make further adjustments during the quarter based on the recalculation of royalties payable for prior periods, and the Trust has no means of predicting such adjustments. The table below shows an estimate of the amount of royalties anticipated to be received in the second quarter of fiscal 2015 based on the actual amount of royalties that were payable to the Trust for the fourth calendar quarter of 2014. Amounts in dollars are based on the current exchange rate of 1.1309. Actual royalty income in dollars is valued based on exchange rates on the days funds are transferred. The February estimate below includes adjustments totaling Euros 211,881 reflecting a negative adjustment of Euros 492,790 for calendar 2013 along with positive adjustments from the prior quarter of Euros 195,767 and sulfur royalties in the amount of Euros 85,142. The negative adjustment for calendar 2013, which (as disclosed in the October 30, 2014 press release) the Trust anticipated would be applied against royalties payable to the Trust in the first fiscal quarter, still has not been applied. ------------------------------------------------------------------------------ Estimated Combined Combined Combined Dollar Royalties Royalties Royalties Royalties in Anticipated in In Euros In Dollars Cents per Unit ------------------------------------------------------------------------------ February Euros 855,973 $ 968,020 $0.105 March Euros 1,067,854 $1,207,636 $0.131 April Euros 1,067,854 $1,207,636 $0.131 ------------------------------------------------------------------------------ -4- The cumulative 12-month distribution, which includes this February distribution and the three prior quarterly distributions, is $1.76 per unit. This 12-month cumulative distribution is 20% or $0.44 per unit lower than the prior 12-month distribution of $2.20 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.