Financial Performance - Total royalty income for the second quarter of fiscal 2025 was $2,471,301, representing a 10.7% increase compared to $2,232,767 in the second quarter of fiscal 2024[39] - Net income for the second quarter of fiscal 2025 was $2,261,006, an increase of 11.2% from $2,033,899 in the second quarter of fiscal 2024[39] - In the first six months of fiscal 2025, total royalty income increased to $2,976,298, up 12.0% from $2,657,677 in the first six months of fiscal 2024[49] - Trust interest income increased to $32,960 in the first six months of fiscal 2025 compared to $23,793 in the same period of fiscal 2024[53] Royalty and Gas Sales - Natural gas accounted for approximately 92% of the cumulative royalty income received in fiscal 2025[27] - Gas sales for the six months ended 3/31/2025 decreased by 6.1% to 6.062 Bcf compared to 6.459 Bcf in the previous period[52] - Gas sales from western Oldenburg accounted for 29.7% of total gas sales from the Oldenburg concession, contributing approximately 81.8% of all royalties attributable to gas sales[52] - The effective royalty rate on gas sold from western Oldenburg is approximately seven times higher than that from eastern Oldenburg, significantly impacting the Trust's royalty income[45] Expenses and Distributions - Trust expenses for the second quarter of fiscal 2025 increased by 6.7% to $229,519 from $215,201 in the second quarter of fiscal 2024[46] - Trust expenses for the first six months of fiscal 2025 decreased by 1.1%, or $5,002, to $463,484 from $468,486 in the same period of fiscal 2024[53] - The Trust's distribution per unit remained unchanged at $0.20 for the second quarter of fiscal 2025[39] Gas Prices - The average gas price under the Mobil Agreement increased by 10.8% to $14.11 per Mcf in the first calendar quarter of 2025[41] - Gas prices increased by 4.6% to 4.1894 Ecents/Kwh from 4.0068 Ecents/Kwh[52] - Gas prices ($/Mcf) increased by 3.2% to $12.73 from $12.33[52] - Gas prices ($/Mcf) for the OEG Agreement increased by 10.9% to $14.08 from $12.70[52] Future Outlook and Operations - EMPG indicated that it will not be drilling any wells during 2025, focusing instead on workovers and maintenance to manage production decline[55] - The Trust's forward-looking statements are subject to risks including depletion of assets and geopolitical uncertainties[57] Royalty Calculations - The Trust's independent accountants will commence their examination of royalty calculations for 2023 and 2024 in October 2025[28]

Distribution Announcement - North European Oil Royalty Trust announced its distribution for the second quarter of fiscal 2025 on April 30, 2025[3] - The Trust's distribution details were disseminated through a press release via PR Newswire[4]

Core Viewpoint - North European Oil Royalty Trust announced a distribution of $0.20 per unit for Q2 of fiscal 2025, matching the distribution from Q2 of fiscal 2024 and increasing from $0.04 in Q1 of fiscal 2025 [1][2]. Distribution Details - The $0.20 distribution is payable on May 28, 2025, to owners of record on May 16, 2025 [1]. - The increase in distribution reflects higher prices and a reduced negative adjustment carryover compared to the first quarter of fiscal 2025 [2]. Royalty Agreements - The Trust receives royalties under the Mobil and OEG Royalty Agreements, with monthly payments based on royalties from the prior quarter [2]. - Positive adjustments at the end of Q2 fiscal 2025 included $73,451 under the Mobil Agreement and $97,508 under the OEG Agreement, along with a Mobil sulfur royalty payment of $57,240 [2]. Future Information - Additional details regarding the Trust's financials will be available in the upcoming 10-Q filing on or about May 30, 2025 [2].

Financial Performance - Total royalty income for the first quarter of fiscal 2025 was $505,697, representing a 19.0% increase from $424,910 in the first quarter of fiscal 2024[40] - Net income for the first quarter of fiscal 2025 was $285,468, a significant increase of 59.4% compared to $179,085 in the first quarter of fiscal 2024[40] - The distribution per unit decreased to $0.04 in the first quarter of fiscal 2025, down 20.0% from $0.05 in the first quarter of fiscal 2024[40] - Total royalty income in the first quarter of fiscal 2025 was reduced by prior period adjustments totaling $2,485,712 due to gas price fluctuations caused by the war in Ukraine[41] Revenue Sources - Natural gas accounted for approximately 82% of the cumulative royalty income received in fiscal 2025[28] - The Trust received $70,202 in sulfur royalties in the first fiscal quarter of 2025, compared to $68,205 in the first quarter of fiscal 2024[33] Gas Sales and Prices - Gas sales under the Mobil Agreement for the fourth calendar quarter of 2024 were 3.199 Bcf, a slight decrease of 0.7% from 3.223 Bcf in the fourth calendar quarter of 2023[44] - Gas prices under the Mobil Agreement increased by 0.8% to 3.8837 Ecents/Kwh in the fourth calendar quarter of 2024 compared to 3.8530 Ecents/Kwh in the same period of 2023[44] Expenses and Assets - Trust expenses decreased by 7.6%, or $19,320, to $233,965 in the first quarter of fiscal 2025 from $253,285 in the first quarter of fiscal 2024[48] - The Trust's assets increased due to higher royalty receipts during the first quarter of fiscal 2025 compared to the fiscal year-end on October 31, 2024[48] Risks and Classifications - The Trust faces risks and uncertainties related to gas production levels and sale prices, general economic conditions, and currency exchange rates[51] - The Trust is classified as a smaller reporting company and is not required to provide detailed market risk disclosures[52]

Distribution Announcement - North European Oil Royalty Trust announced its distribution for the first quarter of fiscal 2025 on January 31, 2025[4]. - The distribution announcement is part of the Trust's regular financial reporting cycle[4]. Compliance and Reporting - The report indicates compliance with the Securities Exchange Act of 1934[7]. - The press release was disseminated through PR Newswire, highlighting the Trust's financial performance[5]. - The managing director, John R. Van Kirk, signed the report, affirming its accuracy[8]. Financial Condition and Strategy - The financial condition and operational results were discussed in the context of the Trust's ongoing strategies[4]. - The Trust has not indicated any changes in its status as an emerging growth company[3]. - The Trust's fiscal year aligns with the calendar year, impacting its quarterly reporting[4]. - No specific financial figures or performance metrics were disclosed in the provided documents[4]. Trust Information - The Trust is listed on the New York Stock Exchange under the trading symbol NRT[2].

Core Viewpoint - North European Oil Royalty Trust announced a quarterly distribution of $0.04 per unit for Q1 fiscal 2025, reflecting a significant reduction due to negative adjustments from the previous calendar year [1][2]. Distribution Details - The distribution of $0.04 per unit is payable on February 26, 2025, to owners of record on February 14, 2025 [1]. - The reduction in distribution is primarily due to substantial negative adjustments from calendar 2023 under both Mobil and OEG royalty agreements [2]. - The negative carry-over adjustment from calendar 2023 eliminated all first quarter fiscal 2025 royalty payments under the OEG royalty, with a small residual negative balance affecting February 2025 payments [2]. Financial Adjustments - The negative carry-over adjustment from calendar 2023 was fully offset by a reduction in the scheduled royalty payment under the Mobil royalty in December 2024 [2]. - Further details regarding these financial adjustments will be available in the 10-Q report expected to be released on or about February 28, 2025 [2].

Gas Sales and Prices - Gas sales under the Mobil Agreement increased by 1.2% to 12.592 billion cubic feet in fiscal 2024 compared to 12.439 billion cubic feet in fiscal 2023[84] - Gas sales under the OEG Agreement decreased by 4.5% to 42.918 billion cubic feet in fiscal 2024 from 44.944 billion cubic feet in fiscal 2023[86] - Average gas prices under the OEG Agreement decreased by 55.4% to 3.7929 Euro cents/kWh in fiscal 2024 from 8.4965 Euro cents/kWh in fiscal 2023[87] - The average gas price under the Mobil Agreement decreased by 51.1% to $11.52 per thousand cubic feet in fiscal 2024 from $23.54 per thousand cubic feet in fiscal 2023[85] Financial Performance - The Trust's cash and cash equivalents increased to $1,625,343 in 2024 from $795,201 in 2023[139] - Royalties received decreased to $5,785,303 in fiscal 2024 from $22,016,103 in fiscal 2023[145] - Net income decreased to $5,057,813 in fiscal 2024 from $21,173,515 in fiscal 2023[143] - Distributions paid decreased to $4,411,483 in fiscal 2024 from $20,770,734 in fiscal 2023[143] Adjustments and Exchange Rates - Negative adjustments for calendar 2023 under the OEG and Mobil agreements were $1,000,143 and $1,619,368, respectively[83] - The average Euro/U.S. dollar exchange rate for fiscal 2024 was 1.0834, unchanged from fiscal 2023[85]

Distribution Announcement - North European Oil Royalty Trust announced the distribution for the fourth quarter of fiscal 2024 on October 31, 2024[2] - The press release regarding the distribution was disseminated through Cision PR Newswire[3] Report Details - The report was signed by John R. Van Kirk, Managing Director, on November 1, 2024[4]

Core Points - The North European Oil Royalty Trust announced a quarterly distribution of $0.02 per unit for Q4 fiscal 2024, payable on November 27, 2024, to owners of record on November 15, 2024 [1] - The reduction in the distribution amount is attributed to negative adjustments from the previous quarter and significant negative adjustments from calendar year 2023 under the Mobil and OEG royalty agreements [2] - The cumulative 12-month distribution, including the November 2024 distribution, totals $0.48 per unit, which is 78.8% lower than the previous 12-month distribution of $2.26 per unit [3] Financial Summary - The Trust's quarterly distributions occur in February, May, August, and November [3] - The cumulative distribution for the past 12 months is $0.48 per unit, down from $2.26 per unit, indicating a decrease of $1.78 per unit [3]

Core Viewpoint - North European Oil Royalty Trust has announced the appointments of Richard P. Howard and Andrew S. Borodach as Trustees effective October 1, 2024, enhancing the management team of the Trust [1][4]. Group 1: Appointments - Richard P. Howard brings over 47 years of experience in the energy industry, having held positions in analytical and portfolio management at firms such as CIGNA, Fidelity Investments, and T. Rowe Price [2]. - Andrew S. Borodach has more than 25 years of experience as a transactional lawyer, focusing on cross-border M&A activity, and currently serves as Vice President and Chief Counsel M&A at Prudential Financial [3]. - With these appointments, the North European Oil Royalty Trust will have a total of 5 Trustees, which is expected to strengthen its management [4].