0000072633-16-000046.txt : 20160815
0000072633-16-000046.hdr.sgml : 20160815
20160815105342
ACCESSION NUMBER: 0000072633-16-000046
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20160729
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20160815
DATE AS OF CHANGE: 20160815
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: 161830738
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
ek081216.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):
August 12, 2016
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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.
----------------------------------------------
On August 12, 2016 North European Oil Royalty Trust issued a
press release via PR Newswire announcing the Trust's net income
for the third quarter of fiscal 2016. 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 August 12, 2016 and
disseminated through PR Newswire announcing the net income
of North European Oil Royalty Trust for the third
quarter of fiscal 2016.
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: August 15, 2016
EX-99
2
x99-0812.txt
-3-
Exhibit 99
PR NEWSWIRE
NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
NET INCOME FOR THE THIRD QUARTER OF FISCAL 2015
Red Bank, N.J. August 12, 2016 -- North European Oil Royalty Trust (NYSE-NRT)
reported its net income for the third quarter of fiscal 2016 and 2015 as set
out below. As detailed in the July 29, 2016 distribution press release, the
decline in total royalties received was primarily attributable to lower gas
sales and lower gas prices under both royalty agreements. Total royalties
received also reflect the impact of accounting adjustments by the operating
companies and Mobil sulfur royalty payments. The total adjustments for the
third quarters of fiscal 2016 and 2015 reduced total royalties received by
$407,560 and $35,346, respectively. There was no Mobil sulfur royalty
payment during the third quarter of fiscal 2016 compared to $74,523 in the
third quarter of fiscal 2015.
3rd Fiscal Qtr. 3rd Fiscal Qtr. Percentage
Ended 7/31/2016 Ended 7/31/2015 Change
--------------- --------------- ----------
Total Royalties Received $1,561,026 $3,459,645 - 54.88%
Net Income $1,388,796 $3,312,307 - 58.07%
Distributions per Unit $0.15 $0.36 - 58.33%
Trust expenses for the third quarter of fiscal 2016 increased by 15.94%, or
$23,848, to $173,434 in comparison to $149,586 for the third quarter of
fiscal 2015. The increase was due to higher domestic legal and German
accounting expenses regarding a dispute about a possible error by EMPG in the
Trust's royalty calculation and a new pricing proposal by EMPG upon which the
Trust's royalty calculation would be based.
Nine Months Nine Months Percentage
Ended 7/31/2016 Ended 7/31/2015 Change
--------------- --------------- ----------
Total Royalties Received $ 5,727,167 $10,140,493 - 43.52%
Net Income $ 5,062,847 $ 9,483,718 - 46.62%
Distributions per Unit $0.55 $1.04 - 47.12%
Trust expenses for the first nine months of fiscal 2016 increased by 0.55%
or $3,645 to $668,319 in comparison to $664,674 for the prior fiscal year's
equivalent period. This increase in expenses is primarily due to higher
accounting costs associated with the biennial examination by the Trust's
German accountants of the royalty payments.
The previously declared distribution of 15 cents per unit will be paid on
August 31, 2016 to owners of record as of August 19, 2016. For further
information contact John R. Van Kirk, Managing Director, at (732) 741-4008
or via e-mail at jvankirk@neort.com. The text of the Trust's press releases
along with other pertinent information is available on the Trust's website:
www.neort.com.