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):  January 31, 2020 


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 Offices, 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 communication 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 January 31, 2020, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's distribution for the first quarter of fiscal 2020. 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 January 31, 2020 and disseminated through PR Newswire announcing the distribution for North European Oil Royalty Trust for the first quarter of fiscal 2020.


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 3, 2020

Exhibit 99

PR NEWSWIRE

NORTH EUROPEAN OIL ROYALTY TRUST
ANNOUNCES THE DISTRIBUTION
FOR THE FIRST QUARTER OF FISCAL 2020

Keene, N.H.  January 31, 2020  -  The Trustees of North European Oil Royalty Trust (NYSE-NRT) announced today a quarterly distribution of $0.08 per unit for the first quarter of fiscal 2020, payable on February 26, 2020 to holders of record on February 14, 2020. Natural gas sold during the fourth calendar quarter of 2019 is the primary source of royalty income on which the February 2020 distribution is based.

John R. Van Kirk, Managing Director, reported that this year's quarterly distribution of $0.08 per unit is 63.64%, or $0.14 per unit, lower than the distribution of $0.22 per unit for the first quarter of fiscal 2019. Under both the Mobil and OEG Royalty Agreements, gas sales, gas prices and average exchange rates were down in comparison to the first quarter of fiscal 2019, with the decline in gas prices having the greatest impact. Specific details will be available in the earnings press release scheduled for publication on or about February 14, 2020.

The table below shows an estimate of the amount of royalties anticipated to be received in the second quarter of fiscal 2020 based on the actual amount of royalties that were payable to the Trust for the fourth calendar quarter of 2019. The amount of royalties anticipated to be received in February 2020 reflects the carryover of a negative adjustment of Euros 99,948. Amounts in dollars are based on the current exchange rate of 1.1020. Actual royalty income in dollars is valued based on exchange rates on the day funds are transferred. Distributions are based on royalty income received less expenses incurred.

Estimated Combined Royalties Anticipated in Combined Royalties in Euros Combined Royalties in Dollars Dollar Royalties in Cents per Unit
February
Euros  271,175
 $298,835 
$0.0325
March
Euros 371,124
 $408,979 
$0.0445
April
Euros 371,124
 $408,979 
$0.0445

The cumulative 12-month distribution, which includes the February 2020 distribution and the three prior quarterly distributions, is $0.68 per unit. This 12-month cumulative distribution is 9.33% or $0.07 per unit lower than the prior cumulative 12-month distribution of $0.75 per unit. 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, email: jvankirk@neort.com. The Trust's press releases and other pertinent information are available on the Trust's website: www.neort.com.