8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): May 15, 2018 NORTH EUROPEAN OIL ROYALTY TRUST (Exact name of Registrant as specified in its charter) Commission File No. 1-8245 Delaware          22-2084119 (State of organization)     (IRS Employer I.D. No.) 43 West Front Street, Suite 19A, Red Bank, NJ 07701 (Address of principal executive offices) (732) 741-4008 (Registrant's telephone number including area code) Not Applicable (Former name or former address, if changed since last report)

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:

[ ] 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 communications pursuant to Rule 14d-2(b) under the
   Exchange Act 17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
   Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Section 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 240.12b-2 of this chapter).

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 May 15, 2018, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the second quarter of fiscal 2018. 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 May 15, 2018 and disseminated through PR Newswire announcing the net income for North European Oil Royalty Trust for the second quarter of fiscal 2018.

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)

By:  /s/ John R. Van Kirk
    John R. Van Kirk
      Managing Director

May 16, 2018

EX-99 2 x99-0515.htm

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES THE NET INCOME FOR THE SECOND QUARTER OF FISCAL 2018

Red Bank, N.J.  May 15, 2018  -  North European Oil Royalty Trust (NYSE-NRT) reported the net income for the second quarter of fiscal 2018 which appears below compared with the second quarter of fiscal 2017. Total royalty income includes any adjustments made by the operating companies based upon their corrected royalty calculations for prior periods as well as any Mobil sulfur royalties. There were no prior period adjustments for either of the second quarters of fiscal 2018 or 2017. The Trust received separate sulfur royalty payments under the Mobil Agreement of $46,458 and $42,984 during the second quarters of fiscal 2018 and 2017, respectively.

	2nd Fiscal Quarter Ended 4/30/2018	2nd Fiscal Quarter Ended 4/30/2017	Percentage Change
Total Royalty Income	$2,054,020	$1,918,830	+  7.05%
Net Income	$1,820,337	$1,699,909	+  7.08%
Distribution per Unit	$0.19	$0.19	+  0.00%

The Trust receives all of its royalties under two royalty agreements. The Mobil Agreement, which is the higher royalty rate agreement, covers gas sales from the western half of the Oldenburg concession. The OEG Agreement, which is the lower royalty rate agreement, covers gas sales from the entire Oldenburg concession. The factors determining the amount of gas royalties payable under the two agreements from the preceding calendar quarter are shown in the table below comparing the first calendar quarters of 2018 and 2017. Further 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 May 30, 2018.

Quarterly Gas Data Providing Basis for Fiscal Quarter Royalties

Mobil Agreement	1st Calendar Quarter Ended 3/31/2018	1st Calendar Quarter Ended 3/31/2017	Percentage Change
Gas Sales (Bcf) 1	5.193	5.934	-12.49%
Gas Prices2 (Ecents/Kwh)3	1.8262	1.7434	+4.75%
Average Exchange Rate4	1.2361	1.0625	+16.34%
Gas Royalties	$1,336,404	$1,225,366	+6.46%
OEG Agreement
Gas Sales (Bcf)	16.373	18.885	-13.30%
Gas Prices (Ecents/Kwh)	1.8624	1.7779	+4.75%
Average Exchange Rate	1.2364	1.0630	+16.31%
Gas Royalties	$548,921	$530,792	+3.42%

Footnotes

1. Billion cubic feet

2. Gas prices derived from November-January period

3. Euro cents per kilowatt hour

4. Based on average Euro/dollar exchange rates of cumulative royalty transfers

Trust expenses for the second quarter of fiscal 2018 increased 6.88%, or $15,119, to $234,826 from $219,707 for the second quarter of fiscal 2017. This increase in expenses reflects the inclusion of legal costs resulting from the review by the Trust's German accountants of the new pricing method set forth in the amendments to the royalty agreements and an increase in the NYSE annual fee.

Total royalty income received during the first six months of fiscal 2018 increased in comparison to fiscal 2017 due to higher gas prices and higher average exchange rates under both the Mobil and the OEG Agreements. The comparison of the relevant periods is shown below.

	Six Months Ended 4/30/2018	Six Months Ended 4/30/2017	Percentage Change
Total Royalty Income	$3,824,261	$3,643,516	+4.96%
Net Income	$3,315,423	$3,174,926	+4.43%
Distribution per Unit	$0.36	$0.34	+5.88%

The previously declared distribution of 19 cents per unit will be paid on May 30, 2018 to owners of record as of May 18, 2018. 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 release and 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 SECOND QUARTER OF FISCAL 2018

Red Bank, N.J.  May 15, 2018  -  North European Oil Royalty Trust (NYSE-NRT) reported the net income for the second quarter of fiscal 2018 which appears below compared with the second quarter of fiscal 2017. Total royalty income includes any adjustments made by the operating companies based upon their corrected royalty calculations for prior periods as well as any Mobil sulfur royalties. There were no prior period adjustments for either of the second quarters of fiscal 2018 or 2017. The Trust received separate sulfur royalty payments under the Mobil Agreement of $46,458 and $42,984 during the second quarters of fiscal 2018 and 2017, respectively.

	2nd Fiscal Quarter Ended 4/30/2018	2nd Fiscal Quarter Ended 4/30/2017	Percentage Change
Total Royalty Income	$2,054,020	$1,918,830	+  7.05%
Net Income	$1,820,337	$1,699,909	+  7.08%
Distribution per Unit	$0.19	$0.19	+  0.00%

The Trust receives all of its royalties under two royalty agreements. The Mobil Agreement, which is the higher royalty rate agreement, covers gas sales from the western half of the Oldenburg concession. The OEG Agreement, which is the lower royalty rate agreement, covers gas sales from the entire Oldenburg concession. The factors determining the amount of gas royalties payable under the two agreements from the preceding calendar quarter are shown in the table below comparing the first calendar quarters of 2018 and 2017. Further 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 May 30, 2018.

Quarterly Gas Data Providing Basis for Fiscal Quarter Royalties

Mobil Agreement	1st Calendar Quarter Ended 3/31/2018	1st Calendar Quarter Ended 3/31/2017	Percentage Change
Gas Sales (Bcf) 1	5.193	5.934	-12.49%
Gas Prices2 (Ecents/Kwh)3	1.8262	1.7434	+4.75%
Average Exchange Rate4	1.2361	1.0625	+16.34%
Gas Royalties	$1,336,404	$1,225,366	+6.46%
OEG Agreement
Gas Sales (Bcf)	16.373	18.885	-13.30%
Gas Prices (Ecents/Kwh)	1.8624	1.7779	+4.75%
Average Exchange Rate	1.2364	1.0630	+16.31%
Gas Royalties	$548,921	$530,792	+3.42%

Footnotes

1. Billion cubic feet

2. Gas prices derived from November-January period

3. Euro cents per kilowatt hour

4. Based on average Euro/dollar exchange rates of cumulative royalty transfers

Trust expenses for the second quarter of fiscal 2018 increased 6.88%, or $15,119, to $234,826 from $219,707 for the second quarter of fiscal 2017. This increase in expenses reflects the inclusion of legal costs resulting from the review by the Trust's German accountants of the new pricing method set forth in the amendments to the royalty agreements and an increase in the NYSE annual fee.

Total royalty income received during the first six months of fiscal 2018 increased in comparison to fiscal 2017 due to higher gas prices and higher average exchange rates under both the Mobil and the OEG Agreements. The comparison of the relevant periods is shown below.

	Six Months Ended 4/30/2018	Six Months Ended 4/30/2017	Percentage Change
Total Royalty Income	$3,824,261	$3,643,516	+4.96%
Net Income	$3,315,423	$3,174,926	+4.43%
Distribution per Unit	$0.36	$0.34	+5.88%

The previously declared distribution of 19 cents per unit will be paid on May 30, 2018 to owners of record as of May 18, 2018. 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 release and other pertinent information are available on the Trust's website: www.neort.com