0000072633-15-000022.txt : 20151102
0000072633-15-000022.hdr.sgml : 20151102
20151102124708
ACCESSION NUMBER: 0000072633-15-000022
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20151030
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20151102
DATE AS OF CHANGE: 20151102
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: 151190000
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
ek110215.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):
October 28, 2015
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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 2.02. Results of Operations and Financial Condition.
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On October 28, 2015 North European Oil Royalty Trust issued
a press release via PR Newswire announcing the Trust's
distribution for the fourth 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.
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(c) Exhibits
The following exhibit is furnished herewith:
Exhibit 99. A press release dated October 28, 2015 and
disseminated through PR Newswire announcing the
distribution for North European Oil Royalty Trust
for the fourth quarter of fiscal 2015.
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: November 2, 2015
EX-99
2
x99-1102.txt
-3-
Exhibit 99
PR NEWSWIRE
NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
THE DISTRIBUTION FOR THE FOURTH QUARTER OF FISCAL 2015
Red Bank, N.J. October 28, 2015 The Trustees of North European Oil Royalty
Trust (NYSE-NRT) announced today a quarterly distribution of $0.23 per unit
for the fourth quarter of fiscal 2015, payable on November 25, 2015 to
holders of record on November 13, 2015. Natural gas sold during the third
calendar quarter of 2015 is the primary source of royalty income on which
the November distribution is based.
John R. Van Kirk, Managing Director, reported that this year's quarterly
distribution of $0.23 per unit is 41.03%, or $0.16 per unit, lower than the
distribution of $0.39 per unit for the fourth quarter of fiscal 2014.
Specific details will be available in the earnings press release scheduled
for publication on or about November 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 first quarter of fiscal 2016 based on the actual amount of
royalties that were payable to the Trust for the third calendar quarter of
2015. Amounts in dollars are based on the current exchange rate of 1.104122.
Actual royalty income in dollars is valued based on exchange rates on the
day funds are transferred. The November estimate below includes a negative
adjustment totaling Euros 345,339 for the overpayment of royalties which
occurred in the preceding quarter and a positive adjustment of Euros 64,733
for the Mobil sulfur royalty payment for the third quarter of 2015.
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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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November Euros 454,373 $ 501,683 $0.055
December Euros 734,979 $ 811,506 $0.088
January Euros 734,979 $ 811,506 $0.088
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-4-
The cumulative distribution for fiscal 2015, which include this November
distribution and the three prior quarterly distributions, is $1.27 per unit
as compared to $1.95 per unit for fiscal 2014. The cumulative distribution
for fiscal 2015 is 34.87% or $0.68 per unit lower than the cumulative
distributions for fiscal 2014. 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.