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NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES QUARTERLY DISTRIBUTION

 NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES QUARTERLY DISTRIBUTION
 RED BANK, N.J., Oct. 28 /PRNewswire/ -- The trustees of North European Oil Royalty Trust (NYSE: NET) announced today a quarterly distribution of 36 cents per unit, payable on Nov. 25, 1992 to holders of record on Nov. 13, 1992.
 John H. Van Kirk, managing trustee, noted that this year's quarterly distribution was 4 cents below that made for the same quarter last year. Royalties received during the prior year's quarter reflected the peak gas prices in effect in Germany following the Gulf War. In comparison the prices in effect in this most recent quarter had declined from that high point by approximately 20 percent. The offsetting effect of the higher Deutsche mark value limited the overall decline in royalties to 10 percent in comparison to the prior year's quarter. Production has remained steady and we expect gas prices and production to show increases as we enter the high demand period of winter.
 Total distributions of $1.55 a unit for fiscal year 1992 compared favorably with fiscal year 1991, showing a 4 percent increase from the previous year's distribution of $1.49. 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 1992. The trust makes quarterly distributions to unit owners during the months of February, May, August and November.
 -0- 10/28/92
 /CONTACT: John H. Van Kirk, managing trustee, or John R. Van Kirk, managing director of North European Oil Royalty Trust, 908-741-4008/
 (NET) CO: North European Oil Royalty Trust ST: New Jersey IN: OIL SU: DIV


LR-TS -- NY064 -- 5981 10/28/92 12:16 EST
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Publication:PR Newswire
Date:Oct 28, 1992
Words:292
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