8-K

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 12, 2021 

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 N. 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 12, 2021, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the fourth quarter of fiscal 2021. 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 12, 2021 and disseminated through PR Newswire announcing the net income for North European Oil Royalty Trust for the fourth quarter of fiscal 2021.

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 15, 2021

EX-99 2 x99-111521.htm

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE NET INCOME FOR THE FOURTH QUARTER OF FISCAL 2021

Keene, N.H. November 12, 2021 - North European Oil Royalty Trust (NYSE-NRT) reported the net income for the fourth quarter of fiscal 2021 which appears below compared with the fourth quarter of fiscal 2020. Total royalty income for the fourth quarters of fiscal 2021 and 2020 include negative prior year adjustments of $157,538 and $254,369, respectively, based upon the corrected royalty calculations for the 2020 and 2019 calendar years. Total royalty income for the fourth quarter of fiscal 2020 was further reduced by a negative adjustment from the prior quarter totaling $443,014. The year-over-year increase in total royalty income for the fourth quarter of fiscal 2021 can largely be attributed to the significant increase in gas prices and the lower negative adjustments applied in 2021.

	4th Fiscal Quarter Ended 10/31/2021	4th Fiscal Quarter Ended 10/31/2020	Percentage Change
Total Royalty Income	$1,437,950	$348,614	+312.48%
Net Income	$1,302,678	$218,649	+495.79%
Distributions per Unit	$0.14	$0.02	+600.00%

The increase in total royalty income received for fiscal 2021 resulted primarily from the reduced impact of COVID-19 and the re-opening of the German economy. The Trust received negative adjustments in fiscal 2021 which decreased royalty income by $696,189, and in fiscal 2020 the Trust received negative adjustments which decreased royalty income by $653,916. Under the Mobil Agreement for fiscal 2021, gas prices, gas sales and average exchange rates showed percentage changes of +20.71%, -8.33% and +7.06%, respectively, in comparison to fiscal 2020. Under the OEG Agreement for fiscal 2021, gas prices, gas sales and average exchange rates showed percentage changes of +20.19%, -3.39% and +7.35%, respectively, in comparison to fiscal 2020. The comparison of the relevant periods is shown below.

	Fiscal Year Ended 10/31/2021	Fiscal Year Ended 10/31/2020	Percentage Change
Total Royalty Income	$4,602,410	$4,050,017	+13.64%
Net Income	$3,976,557	$3,286,363	+21.00%
Distributions per Unit	$0.47	$0.32	+46.88%

The 2021 Annual Meeting is scheduled to begin at 11:00 a.m. on February 16, 2022. The annual meeting is convened for purposes of voting on the proposals presented in the proxy statement. The meeting will also provide the opportunity for unit owners and interested parties to pose questions to the Trustees and the Managing Director and will be held via Zoom. 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 14 cents per unit will be paid on November 24, 2021 to owners of record as of November 12, 2021. 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.

EX-99

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE NET INCOME FOR THE FOURTH QUARTER OF FISCAL 2021

Keene, N.H. November 12, 2021 - North European Oil Royalty Trust (NYSE-NRT) reported the net income for the fourth quarter of fiscal 2021 which appears below compared with the fourth quarter of fiscal 2020. Total royalty income for the fourth quarters of fiscal 2021 and 2020 include negative prior year adjustments of $157,538 and $254,369, respectively, based upon the corrected royalty calculations for the 2020 and 2019 calendar years. Total royalty income for the fourth quarter of fiscal 2020 was further reduced by a negative adjustment from the prior quarter totaling $443,014. The year-over-year increase in total royalty income for the fourth quarter of fiscal 2021 can largely be attributed to the significant increase in gas prices and the lower negative adjustments applied in 2021.

	4th Fiscal Quarter Ended 10/31/2021	4th Fiscal Quarter Ended 10/31/2020	Percentage Change
Total Royalty Income	$1,437,950	$348,614	+312.48%
Net Income	$1,302,678	$218,649	+495.79%
Distributions per Unit	$0.14	$0.02	+600.00%

The increase in total royalty income received for fiscal 2021 resulted primarily from the reduced impact of COVID-19 and the re-opening of the German economy. The Trust received negative adjustments in fiscal 2021 which decreased royalty income by $696,189, and in fiscal 2020 the Trust received negative adjustments which decreased royalty income by $653,916. Under the Mobil Agreement for fiscal 2021, gas prices, gas sales and average exchange rates showed percentage changes of +20.71%, -8.33% and +7.06%, respectively, in comparison to fiscal 2020. Under the OEG Agreement for fiscal 2021, gas prices, gas sales and average exchange rates showed percentage changes of +20.19%, -3.39% and +7.35%, respectively, in comparison to fiscal 2020. The comparison of the relevant periods is shown below.

	Fiscal Year Ended 10/31/2021	Fiscal Year Ended 10/31/2020	Percentage Change
Total Royalty Income	$4,602,410	$4,050,017	+13.64%
Net Income	$3,976,557	$3,286,363	+21.00%
Distributions per Unit	$0.47	$0.32	+46.88%

The 2021 Annual Meeting is scheduled to begin at 11:00 a.m. on February 16, 2022. The annual meeting is convened for purposes of voting on the proposals presented in the proxy statement. The meeting will also provide the opportunity for unit owners and interested parties to pose questions to the Trustees and the Managing Director and will be held via Zoom. 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 14 cents per unit will be paid on November 24, 2021 to owners of record as of November 12, 2021. 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.