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NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES DISTRIBUTION

 NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES DISTRIBUTION
 RED BANK, N.J., Jan. 30 /PRNewswire/ -- The trustees of North


European Oil Royalty Trust (NYSE: NET) announced today a quarterly distribution of 46 cents per unit for the first quarter of fiscal 1992, payable on Feb. 26, 1992 to holders of record on Feb. 14, 1992.
 John R. Van Kirk, managing director, reported that this year's distribution was 24.3 percent higher than last year's distribution of 37 cents. The two most significant components relating to this increase were an increase in prices for gas in Germany and a temporary upsurge in production from the higher royalty area of western Oldenburg. The prices for gas sold under the higher royalty rate, in western Oldenburg, increased by 38.5 percent. Despite a drop of 17.2 percent in overall production, production from the higher royalty western area increased by 7.3 percent. This shift in production, when added to the increase in prices, more than offset the decline in the exchange rate and resulted in the improved distribution.
 Van Kirk also reported that information distributed to unit owners had recommended a cost depletion percentage of 9.333 percent for 1991 tax reporting purposes. Unit owners may deduct this percentage of the adjusted cost of their units as depletion. A more complete explanation of the treatment of trust income for tax purposes is outlined in a letter available from North European Oil Royalty Trust, P.O. Box 456, Red Bank, NJ 07701.
 Distributions are made to trust unit owners from royalties received from oil, sulfur and gas sales from royalty holdings in Germany. The February distribution reflects royalties from sales made during the last calendar quarter of 1991. The trust makes quarterly distributions to unit owners during the months of February, May, August and November.
 The annual meeting of unit owners will be held at 2 p.m. on Feb. 12, 1992, at the University Club in New York. All owners are invited to attend.
 -0- 1/30/92
 /CONTACT: John H. Van Kirk or John R. Van Kirk of North European Oil Royalty Trust, 908-741-4008/
 (NET) CO: North European Oil Royalty Trust ST: New Jersey IN: OIL SU: DIV


GK-OS -- NY071 -- 5278 01/30/92 13:13 EST
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Publication:PR Newswire
Date:Jan 30, 1992
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