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 --------------- 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 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 ---------- 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.