0000072633-17-000024.txt : 20170814 0000072633-17-000024.hdr.sgml : 20170814 20170814115445 ACCESSION NUMBER: 0000072633-17-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170731 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170814 DATE AS OF CHANGE: 20170814 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: 171028440 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 ek081117.htm

UNITED STATES
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 11, 2017

NORTH EUROPEAN OIL ROYALTY TRUST
(Exact name of Registrant as specified in its charter)

Commission File No. 1-8245

Delaware
(State of organization)

22-2084119
IRS Employer I.D. No.

Suite 19A, 43 West Front Street, Red Bank, NJ 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))

 

Item 2.02.    Results of Operations and Financial Condition.

On August 11, 2017, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the third quarter of fiscal 2017. 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 11, 2017 and disseminated through PR Newswire announcing the net income for North European Oil Royalty Trust for the third quarter of fiscal 2017.


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 hereunto duly authorized.


NORTH EUROPEAN OIL ROYALTY TRUST

(Registrant)

/s/ John R. Van Kirk

John R. Van Kirk

Managing Director

August 14, 2017

EX-99 2 x99-0811.htm

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE
THE NET INCOME FOR THE THIRD QUARTER OF FISCAL 2017

Red Bank, N.J.  August 11, 2017  -  North European Oil Royalty Trust (NYSE-NRT) reported the net income for the third quarter of fiscal 2017 which appears below compared with the third quarter of fiscal 2016. As detailed in the July 31, 2017 distribution press release, the increase in total royalty income was primarily attributable to higher gas prices and higher gas sales under both royalty agreements. Additionally, total royalty income for the third quarter of fiscal 2017 was not impacted by prior quarter accounting adjustments; however, total royalty income for the third quarter of fiscal 2016 was reduced by $407,560. There were no Mobil sulfur royalty payments during the third quarter of fiscal 2017 or the third quarter of fiscal 2016.

3rd Fiscal Quarter Ended 7/31/2017 3rd Fiscal Quarter Ended 7/31/2016 Percentage Change
Total Royalty Income $1,974,441 $1,561,026 + 26.48%
Net Income $1,840,694 $1,388,796 + 32.54%
Distributions per Unit $0.20 $0.15 + 33.33%

Trust expenses for the third quarter of fiscal 2017 decreased by 22.17%, or $38,457, to $134,977 in comparison to $173,434 for the third quarter of fiscal 2016. This decrease in expenses reflects the absence of current costs relating to the biennial examination of the royalty statements by the Trust's German accountants because 2017 is an alternate year. The decrease in expenses also reflects the absence of legal costs resulting from the prior completion of the examination of the pricing method proposed by the operating companies and the incorporation of the resulting details in the amendments to the royalty agreements.

Total royalty income received during the first nine months of fiscal 2017 declined in comparison to fiscal 2016 due to lower gas prices, lower gas sales and lower average exchange rates under both the Mobil and the OEG Agreements. The comparison of the relevant periods is shown below.

Nine Months Ended 7/31/2017 Nine Months Ended 7/31/2016 Percentage Change
Total Royalty Income $5,617,957 $5,727,167 - 1.91%
Net Income $5,015,620 $5,062,847 - 0.93%
Distributions per Unit $0.54 $0.55 - 1.82%

The previously declared distribution of 20 cents per unit will be paid on August 30, 2017 to owners of record as of August 18, 2017. 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.