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NORTH EUROPEAN OIL ROYALTY TRUST REPORTS REVENUES

 NORTH EUROPEAN OIL ROYALTY TRUST REPORTS REVENUES
 RED BANK, N.J., Nov. 11 /PRNewswire/ -- North European Oil Royalty


Trust (NYSE: NET) reported that royalty revenues for the fourth quarter of its fiscal year through Oct. 31, 1992 decreased by 12.1 percent from those of the same period last year.
 Two of the three factors affecting revenues, level of sales and exchange rate, were not sufficient to offset the decline in the third factor, gas prices. The return to more normal gas prices following the upsurge resulting from the Gulf War accentuated the decline in prices, when respective quarters were compared. For the higher royalty area of western Oldenburg prices declined by 22.7 percent, while overall Oldenburg showed a decline of 23.5 percent. Sales remained steady, rising .6 percent in the west and 3.5 percent overall, and the exchange rate showed a 14.2 percent improvement over the previous year's quarter, averaging 67.9 cents.
 NORTH EUROPEAN OIL ROYALTY TRUST
 Quarter Ended 10/31/92 10/31/91
 German Royalties received 3,060,061 3,481,862
 Net income 2,948,855 3,385,447
 Net income per unit 0.35 0.41
 Fiscal year ended 10/31/92 10/31/91
 German Royalties received 13,458,150 13,026,234
 Net income 12,870,740 12,517,318
 Net income per unit 1.55 1.51
 The Trust declared a distribution to owners of 36 cents per unit for the fourth fiscal quarter, making the total distribution for the 1992 fiscal year $1.55 per unit compared to $1.49 for last year, a 4 percent increase. The distribution will be paid on Nov. 25, 1992 to holders of record on Nov. 13, 1992.
 -0- 11/11/92
 /CONTACT: John H. Van Kirk, managing trustee, or John R. Van Kirk, managing director, 908-741-4008, both of North European Oil Royalty Trust/
 (NET) CO: North European Oil Royalty Trust ST: New Jersey IN: OIL SU:


LR-SH -- NY033 -- 9727 11/11/92 12:11 EST
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Publication:PR Newswire
Date:Nov 11, 1992
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