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NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES QUARTERLY DISTRIBUTION

 RED BANK, N.J., April 28 /PRNewswire/ -- The trustees of North European Oil Royalty Trust (NYSE: NET) today announced a quarterly distribution of 34 cents per unit, payable on May 26, 1993, to holders of record on May 14, 1993.
 John R. Van Kirk, managing director, noted that this year's distribution was 5 cents per unit or 12.8 percent lower than the distribution made for last year's equivalent quarter. The primary factor behind the decline in the distribution was the lower gas prices in effect during this quarter. Although production from the entire Oldenburg area was down by 4.2 percent, production from the higher royalty western area increased by 4.9 percent. Due to low sulfur prices in effect worldwide, sulfur royalties under the agreement with Mobil continue to be suspended.
 Total distributions of $.57 per unit for the first six months of fiscal year 1993 were 28 cents per unit or 32.9 percent lower than the amount distributed for the same period last year with the majority of this reduction having taken place in the first quarter.
 Distributions are made to trust unit owners from royalties received from the sales of gas, sulfur and oil from the trust's royalty holdings in Germany. The May distribution reflects royalties from sales made during the first calendar quarter of 1993. The trust makes quarterly distributions to unit owners during the months of February, May, August and November.
 -0- 4/28/93
 /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

WB-PS -- NY070 -- 2043 04/28/93 12:41 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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