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NORTH EUROPEAN OIL ROYALTY TRUST REPORTS EARNINGS

 NORTH EUROPEAN OIL ROYALTY TRUST REPORTS EARNINGS
 RED BANK, N.J., Aug. 12 /PRNewswire/ -- North European Oil Royalty


Trust (NYSE: NET) reported that royalty revenues for the third quarter of its fiscal year through July 31, 1992 decreased by 7.3 percent from those of the same period last year.
 The decrease in revenues resulted primarily form a shut down of the sweet gas field at Hengstlage during the months of May and June. The Deutsche mark continued to remain strong averaging 63.8 cents for the quarter. The trend, evidenced in the two previous quarters, of declining German gas prices was reversed with prices rising by approximately 20 percent over the prior quarter.
 NORTH EUROPEAN OIL ROYALTY TRUST
 Quarter Nine months
 Periods ended July 31 1992 1991 1992 1991
 German royalties
 received $2,946,225 $3,178,528 $10,398,089 $9,544,372
 Net income 2,810,747 3,073,976 9,921,885 9,131,871
 Net income per unit $0.34 $0.37 $1.20 $1.10
 The trust declared a distribution to owners of 34 cents per unit for the third fiscal quarter, making the total distribution for the nine month period $1.19 per unit compared to $1.09 for the same period last year. The distribution will be paid on Aug. 26, 1992 to holders of record on Aug. 14, 1992.
 -0- 8/12/92
 /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: ERN


SM-LR -- NY042 -- 6173 08/12/92 12:31 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
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