Attached files
-3-
Exhibit 99
PR NEWSWIRE
NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
THE DISTRIBUTION FOR THE SECOND QUARTER OF FISCAL 2017
Red Bank, N.J. April 28, 2017 The Trustees of North European Oil Royalty
Trust (NYSE-NRT) today announced a quarterly distribution of $0.19 per unit
for the second quarter of fiscal 2017, payable on May 31, 2017 to holders of
record on May 19, 2017. Natural gas sold during the first calendar quarter
of 2017 is the primary source of royalty income on which the May 2017
distribution is based.
John R. Van Kirk, Managing Director, reported that this year's quarterly
distribution of $0.19 per unit is 20.83%, or $0.05 per unit, lower than the
distribution of $0.24 per unit for the second quarter of fiscal 2016.
Specific details will be available in the earnings press release scheduled
for publication on or about May 12, 2017.
The table below shows an estimate of the amount of royalties anticipated to
be received in the third quarter of fiscal 2017 based on the actual amount of
royalties that were paid to the Trust for the first calendar quarter of 2017.
Amounts in dollars are based on the current exchange rate of 1.09321. Actual
royalty income in dollars is valued based on exchange rates on the day funds
are transferred.
------------------------------------------------------------------------------
Estimated Combined Combined Combined Dollar
Royalties Royalties Royalties Royalties in
Anticipated in In Euros In Dollars Cents per Unit
------------------------------------------------------------------------------
May Euros 588,674 $643,544 $0.0700
June Euros 588,674 $643,544 $0.0700
July Euros 588,674 $643,544 $0.0700
------------------------------------------------------------------------------
The cumulative 12-month distribution, which includes the May 2017
distribution and the three prior quarterly distributions, is $0.61 per unit.
This 12-month cumulative distribution is 38.38% or $0.38 per unit lower than
the prior 12-month distribution of $0.99 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 text of the Trust's press releases along with
other pertinent information is available at the Trust's website:
www.neort.com