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NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES QUARTERLY DISTRIBUTION

 RED BANK, N.J., Oct. 27 /PRNewswire/ -- The trustees of North European Oil Royalty Trust (NYSE: NET) announced today a quarterly distribution of 32 cents per unit, payable on Nov. 24, 1993, to holders of record on Nov. 12, 1993.
 John R. Van Kirk, managing director, noted that this year's quarterly distribution was 4 cents, or 11 percent below that made for the same quarter last year. Royalties received during this year's quarter reflect both stable production levels and a slight improvement in gas prices within Germany when compared to last year's equivalent period. The lower exchange rate was the primary negative factor contributing to the decline in royalties. Last year's exchange rate for the quarter averaged 67 cents whereas this year's average was only 60 cents.
 A total distribution of $1.22 per unit for fiscal 1993 represents a 21.3 percent decline from the previous year's distribution of $1.55 per unit. Out of the total decline of 33 cents in 1993 per unit royalties, 23 cents occurred in the first quarter. Distributions are made to trust unit owners from royalties received from oil, sulfur and gas sales from royalty holdings in Germany. The November distribution reflects royalties from sales made during the third calendar quarter of 1993. The trust makes quarterly distributions to unit owners during the months of February, May, August and November.
 -0- 1/27/93
 /CONTACT: John H. Van Kirk, managing trustee, or John R. Van Kirk, managing director, 908-741-4008, both of North European Royalty Trust/
 (NET)


CO: North European Royalty Trust ST: New Jersey IN: OIL SU: DIV

TW -- NY067 -- 7285 10/27/93 12:22 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
Words:274
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