North European Oil Royalty Trust (NRT, Financial) filed Quarterly Report for the period ended 2009-07-31.
North European Oil Royalty Trust is a trust which on behalf of the ownersof beneficial interest in the Trust hold overriding royalty rights covering gas and oil production in certain concessions or leases. North European Oil Royalty Trust has a market cap of $275.7 million; its shares were traded at around $30 with a P/E ratio of 8.3 and P/S ratio of 8. The dividend yield of North European Oil Royalty Trust stocks is 7.8%. North European Oil Royalty Trust had an annual average earning growth of 15.6% over the past 5 years.
Ended 7/31/2009 Ended 7/31/2008 Change
- - -
Gas Sales (Bcf) 12.290 12.314 - 0.20%
Gas Prices (Ecents/Kwh) 1.8579 2.4704 -24.79%
Gas Prices ($/Mcf) $ 7.52 $11.16 -32.62%
Average Euro Exchange Rate $1.4060 $1.5688 -10.38%
3rd Fiscal Qtr. 3rd Fiscal Qtr. Percentage
Ended 7/31/2009 Ended 7/31/2008 Change
- - -
Gas Sales (Bcf) 31.205 31.045 + 0.51%
Gas Prices (Ecents/Kwh) 2.1681 2.5699 -15.63%
Gas Prices ($/Mcf) $ 8.48 $11.35 -25.29%
Average Euro Exchange Rate $1.3946 $1.5730 -11.34%
For the nine month period, the Trust's net income was $24,212,913,
a decrease of 0.18% from the net income of $24,255,590 for last year's
equivalent period. Gross royalties received for the first nine months of
fiscal 2009 were $25,072,153, an increase of 0.13% as compared to $25,039,400
for the first nine months of fiscal 2008. These royalties were primarily
derived from sales of gas, sulfur and oil from the Trust's overriding royalty
areas in Germany during the fourth calendar quarter of 2008 and the first two
calendar quarters of 2009. For both nine month periods ended July 31, 2009
and 2008, total distributions were equal to $2.63 per unit. As in prior
years, the Trust receives adjustments from the operating companies based on
their final calculations of royalties payable during the previous calendar
year. As an adjustment for the prior calendar year, the Trust received the
equivalent of $0.0964 and $0.1090 per unit during the first nine months of
fiscal 2008 and 2009, respectively. In addition, the total distribution for
the current nine month period includes a one-time adjustment covering the
period 2005-2007. During their verification, the Trust's German accountants
discovered errors related to calculation discrepancies in the determination
of average gas prices. Following the required recalculation, the Trust
received the equivalent of $0.1013 per unit as an adjustment.
Nine Months Nine Months Percentage
Ended 7/31/2009 Ended 7/30/2008 Change
- - -
Gas Sales (Bcf) 38.827 40.569 - 4.29%
Gas Prices (Ecents/Kwh) 2.6086 2.2729 +14.77%
Gas Prices ($/Mcf) $10.11 $ 9.98 + 1.30%
Average Euro Exchange Rate $1.3454 $1.5244 -11.74%
Nine Months Nine Months Percentage
Ended 7/31/2009 Ended 7/30/2008 Change
- - -
Gas Sales (Bcf) 97.971 99.441 - 1.48%
Gas Prices (Ecents/Kwh) 2.9499 2.3739 +24.26%
Gas Prices ($/Mcf) $11.07 $10.21 + 8.42%
Average Euro Exchange Rate $1.3368 $1.5296 -12.60%
Interest income was lower reflecting the decline in interest rates
applicable during the period. Interest income for the nine month period
decreased 86.04% to $10,840 from $77,666 in the first nine months of fiscal
2008. Trust expenses for the nine month period increased 0.99% or $8,603 to
$870,079 in comparison to the prior year's equivalent period. The increase
in expenses resulted primarily from a timing issue in the payment of an
insurance fee.
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North European Oil Royalty Trust is a trust which on behalf of the ownersof beneficial interest in the Trust hold overriding royalty rights covering gas and oil production in certain concessions or leases. North European Oil Royalty Trust has a market cap of $275.7 million; its shares were traded at around $30 with a P/E ratio of 8.3 and P/S ratio of 8. The dividend yield of North European Oil Royalty Trust stocks is 7.8%. North European Oil Royalty Trust had an annual average earning growth of 15.6% over the past 5 years.
Highlight of Business Operations:
3rd Fiscal Qtr. 3rd Fiscal Qtr. PercentageEnded 7/31/2009 Ended 7/31/2008 Change
- - -
Gas Sales (Bcf) 12.290 12.314 - 0.20%
Gas Prices (Ecents/Kwh) 1.8579 2.4704 -24.79%
Gas Prices ($/Mcf) $ 7.52 $11.16 -32.62%
Average Euro Exchange Rate $1.4060 $1.5688 -10.38%
3rd Fiscal Qtr. 3rd Fiscal Qtr. Percentage
Ended 7/31/2009 Ended 7/31/2008 Change
- - -
Gas Sales (Bcf) 31.205 31.045 + 0.51%
Gas Prices (Ecents/Kwh) 2.1681 2.5699 -15.63%
Gas Prices ($/Mcf) $ 8.48 $11.35 -25.29%
Average Euro Exchange Rate $1.3946 $1.5730 -11.34%
For the nine month period, the Trust's net income was $24,212,913,
a decrease of 0.18% from the net income of $24,255,590 for last year's
equivalent period. Gross royalties received for the first nine months of
fiscal 2009 were $25,072,153, an increase of 0.13% as compared to $25,039,400
for the first nine months of fiscal 2008. These royalties were primarily
derived from sales of gas, sulfur and oil from the Trust's overriding royalty
areas in Germany during the fourth calendar quarter of 2008 and the first two
calendar quarters of 2009. For both nine month periods ended July 31, 2009
and 2008, total distributions were equal to $2.63 per unit. As in prior
years, the Trust receives adjustments from the operating companies based on
their final calculations of royalties payable during the previous calendar
year. As an adjustment for the prior calendar year, the Trust received the
equivalent of $0.0964 and $0.1090 per unit during the first nine months of
fiscal 2008 and 2009, respectively. In addition, the total distribution for
the current nine month period includes a one-time adjustment covering the
period 2005-2007. During their verification, the Trust's German accountants
discovered errors related to calculation discrepancies in the determination
of average gas prices. Following the required recalculation, the Trust
received the equivalent of $0.1013 per unit as an adjustment.
Nine Months Nine Months Percentage
Ended 7/31/2009 Ended 7/30/2008 Change
- - -
Gas Sales (Bcf) 38.827 40.569 - 4.29%
Gas Prices (Ecents/Kwh) 2.6086 2.2729 +14.77%
Gas Prices ($/Mcf) $10.11 $ 9.98 + 1.30%
Average Euro Exchange Rate $1.3454 $1.5244 -11.74%
Nine Months Nine Months Percentage
Ended 7/31/2009 Ended 7/30/2008 Change
- - -
Gas Sales (Bcf) 97.971 99.441 - 1.48%
Gas Prices (Ecents/Kwh) 2.9499 2.3739 +24.26%
Gas Prices ($/Mcf) $11.07 $10.21 + 8.42%
Average Euro Exchange Rate $1.3368 $1.5296 -12.60%
Interest income was lower reflecting the decline in interest rates
applicable during the period. Interest income for the nine month period
decreased 86.04% to $10,840 from $77,666 in the first nine months of fiscal
2008. Trust expenses for the nine month period increased 0.99% or $8,603 to
$870,079 in comparison to the prior year's equivalent period. The increase
in expenses resulted primarily from a timing issue in the payment of an
insurance fee.
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