Attached files
-3-
Exhibit 99
PR NEWSWIRE
NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
THE DISTRIBUTION FOR THE FOURTH QUARTER OF FISCAL 2013
Red Bank, N.J. October 30, 2013 - The Trustees of North European Oil Royalty
Trust (NYSE-NRT) today announced a quarterly distribution of $0.53 per unit
for the fourth quarter of fiscal 2013, payable on November 27, 2013 to holders
of record on November 15, 2013. Natural gas sold during the third calendar
quarter of 2013 is the primary source of royalty income on which the November
distribution is based.
John R. Van Kirk, Managing Director, reported that this year's quarterly
distribution of $0.53 per unit is 3.92%, or $0.02 per unit, higher than the
distribution of $0.51 per unit for the fourth quarter of fiscal 2012. In
accordance with the royalty payment procedures, the prior year adjustments
are included in the Trust's royalty income for the fourth fiscal quarter. In
the fourth quarter of fiscal 2013 the prior year adjustment, while positive,
was nominal. However, in the fourth quarter of fiscal 2012 the prior year
adjustment represented a negative impact of approximately $0.0189 per unit.
Specific details from the operating companies regarding sales, prices and
production will be available in the press release announcing the Trust's net
income scheduled for release on or about November 14, 2013.
The table below shows an estimate of the amount of royalties anticipated to
be received in the first quarter of fiscal 2014 based on the actual amount of
royalties that were payable to the Trust for the third calendar quarter of
2013. Amounts in dollars are based on the current exchange rate of 1.3788.
Actual royalty income in dollars is valued based on exchange rates on the days
funds are transferred. The November estimate below includes an adjustment
for the overpayment of royalties which occurred in the preceding quarter.
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Estimated Combined Combined Combined Dollar
Royalties Royalties Royalties Royalties in
Anticipated in In Euros In Dollars Cents per Unit
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November Euros 1,211,594 $1,670,546 $0.182
December Euros 1,256,683 $1,732,715 $0.189
January Euros 1,256,683 $1,732,715 $0.189
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The cumulative distributions for fiscal 2013, which include this November
distribution and the three prior quarterly distributions, are $2.25 per unit
as compared to $2.46 per unit for fiscal 2012. The cumulative distributions
for fiscal 2013 are 8.54% or $0.21 per unit lower than the cumulative
distributions for fiscal 2012. The Trust makes quarterly distributions to
unit owners during the months of February, May, August and November.
Contact - John R. Van Kirk, Managing Director, telephone: (732) 741-4008,
e-mail: jvankirk@neort.com. The text of the Trust's press releases along
with other pertinent information is available at the Trust's website:
www.neort.com