0000072633-22-000003.txt : 20220211 0000072633-22-000003.hdr.sgml : 20220211 20220211162138 ACCESSION NUMBER: 0000072633-22-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220131 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20220211 DATE AS OF CHANGE: 20220211 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: 22621365 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 ek021122.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):  February 11, 2022 

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, NH 03431   
(Address of Principal Executive Office 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 240.12b-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 February 11, 2022, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the first quarter of fiscal 2022. 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 February 11, 2022 disseminated through PR Newswire announcing the net income for North European Oil Royalty Trust for the first quarter of fiscal 2022.


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

February 11, 2022

EX-99 2 x99-021122.htm

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
THE NET INCOME FOR THE FIRST QUARTER OF FISCAL 2022

Keene, N.H.  February 11, 2022  -  North European Oil Royalty Trust (NYSE-NRT) (the "Trust") reported its net income for the first quarter of fiscal 2022 which appears in the table below compared to its net income for the first quarter of fiscal 2021. Total royalty income includes positive and negative adjustments that the operators made during the quarter based upon their corrected royalty calculations for the prior periods, as well as Mobil sulfur royalties. Total royalty income for the first quarter of fiscal 2022 was not affected because there were no prior period adjustments, but was increased by Mobil sulfur royalties of $59,517. By comparison, total royalties in the first quarter of fiscal 2021 were reduced by negative adjustments of $538,651 and increased by Mobil sulfur royalties of $65,267 (a correction of $35,070 for the first quarter of calendar 2020 and $30,197 for the fourth quarter of calendar 2020).

1st Fiscal Quarter Ended 1/31/2022 1st Fiscal Quarter Ended 1/31/2021 Percentage Change
Total Royalty Income $2,546,539 $283,439 +798.44%
Net Income $2,351,819 $111,842 +2,002.80%
Distributions per Unit $0.25 $0.04 +525.00%

Despite the continuing economic disruption caused by COVID-19, the resumption of a more "normal" economy resulted in increased demands for energy. Under the Mobil Agreement for the first quarter of fiscal 2022, gas prices, gas sales, and the average exchange rate showed percentage changes of +156.42%, +27.41% and -7.10%, respectively, in comparison to the first quarter of fiscal 2021. In a corresponding comparison under the OEG Agreement, gas prices, gas sales, and the average exchange rate showed percentage changes of +156.43%, +20.20% and -7.16%, respectively.

Trust expenses for the first quarter of fiscal 2022 increased 13.56%, or $23,277, to $194,957 from $171,680 for the first quarter of fiscal 2021. The increase in expenses reflects the shift in the timing of the payment relating to the biennial examination of the royalty statements by the Trust's German accountants, increased Trustee fees as specified by the Trust Agreement, and increased fees associated with the Trust's petroleum consultant.

The previously declared distribution of $0.25 per unit will be paid on February 23, 2022 to owners of record as of February 11, 2022. Comprehensive details will be available in the Trust's 10-Q filing available through the SEC or on the Trust's website, www.neort.com, on or about February 25, 2022. 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 and other pertinent information are also available on the Trust's website.