0000072633-20-000025.txt : 20201116 0000072633-20-000025.hdr.sgml : 20201116 20201116061516 ACCESSION NUMBER: 0000072633-20-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20201031 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20201116 DATE AS OF CHANGE: 20201116 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: NH FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08245 FILM NUMBER: 201313530 BUSINESS ADDRESS: STREET 1: P O BOX 187 STREET 2: 5 N. LINCOLN STREET CITY: KEENE STATE: NH ZIP: 03431 BUSINESS PHONE: 7327414008 MAIL ADDRESS: STREET 1: P O BOX 187 STREET 2: 5 N. LINCOLN STREET CITY: KEENE STATE: NH ZIP: 03431 8-K 1 ek111620.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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):  November 13, 2020 

NORTH EUROPEAN OIL ROYALTY TRUST

(Exact Name of Registrant as Specified in Charter)

   Delaware           1-8245        22-2084119  

State or Other Jurisdiction    (Commission      (I.R.S. Employer

of Incorporation       File Number)      Identification No.)

  5 North Lincoln Street, Keene, N.H. 03431  
(Address of Principal Executive Offices, and Zip Code)

 (732) 741-4008 
(Registrant's Telephone Number, Including Area Code)

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 (see General Instruction A.2.below):

 [ ]  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 communication pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

 [ ]  Pre-commencement communication pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class      Trading Symbol(s) Name of each exchange on which registered

Units of Beneficial Interest   NRT        New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR Section 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR Section 240.12.b-2).

Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

 

Item 2.02.    Results of Operations and Financial Condition.

On November 13, 2020, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the fourth quarter of fiscal 2020. 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 November 13, 2020 and disseminated through PR Newswire announcing the net income for North European Oil Royalty Trust for the fourth quarter of fiscal 2020.


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

November 16, 2020

EX-99 2 x99-111620.htm

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
THE NET INCOME FOR THE FOURTH QUARTER OF FISCAL 2020

Keene, N.H. November 13, 2020 - North European Oil Royalty Trust (NYSE-NRT) reported the net income for the fourth quarter of fiscal 2020 which appears below compared with the fourth quarter of fiscal 2019. Total royalty income for the fourth quarter of fiscal 2020 includes negative adjustments made by the operating companies based upon their corrected royalty calculations for the preceding quarter, -$443,014, and for the 2019 fiscal year, -$254,369.

4th Fiscal Quarter Ended 10/31/2020 4th Fiscal Quarter Ended 10/31/2019 Percentage Change
Total Royalty Income $348,614 $1,660,135 -79.00%
Net Income $218,649 $1,516,063 -85.58%
Distributions per Unit $0.02 $0.16 -87.50%

The decline in total royalty income received for fiscal 2020 resulted to a large extent from the impact of COVID-19 and the associated economic disruption. The Trust received negative adjustments in fiscal 2020 which decreased royalty income by $653,916, whereas in fiscal 2019 the Trust received positive adjustments which increased royalty income by $225,450. Under the Mobil Agreement for fiscal 2020, gas prices, gas sales and average exchange rates showed percentage changes of -30.10%, -15.87% and -0.73%, respectively, in comparison to fiscal 2019. Under the OEG Agreement for fiscal 2020, gas prices, gas sales and average exchange rates showed percentage changes of -29.91%, -16.55% and -0.99%, respectively, in comparison to fiscal 2019. The comparison of the relevant periods is shown below.

  Fiscal Year Ended
10/31/2020
 Fiscal Year Ended
10/31/2019
 Percentage
Change
Total Royalty Income $4,050,017 $8,344,712 -51.47%
Net Income $3,286,363 $7,578,065 -56.63%
Distributions per Unit $0.32 $0.82 -60.98%

The 2020 Annual Meeting is scheduled to begin at 11:00 a.m. on February 17, 2021. The first part of the meeting will consist of an informal question and answer period held via Zoom. The second part, which will constitute the formal annual meeting, will be for purposes of voting on the proposals presented in the proxy statement. Further details will be provided in the Notice of Annual Meeting of Unit Owners which is being mailed in early January.

The previously declared distribution of 2 cents per unit will be paid on November 25, 2020 to owners of record as of November 13, 2020. For further information contact John R. Van Kirk, Managing Director, at (732) 741-4008 or via e-mail at jvankirk@neort.com. The Trust's press releases, along with other pertinent information, are available on the Trust's website: www.neort.com.