North European Oil Royalty Trust (NRT) 2002年年度报告「NYSE」.pdf

1、Annual Report 2002NorthEuropeanOilRoyaltyTrustATTENTION:PLEASE RETAINCRITICAL TAX INFORMATION ENCLOSEDThe Annual Meeting of Unit Owners will be held on Wednesday,February 12,2003,at 1:30 P.M.,in Rooms 3 and 4,Ninth Floor,at the University Club,1 West 54 Street,New York City(northwest corner of 5 Ave

2、nue;entrance on 54thththStreet).All unit owners are cordially invited to attend.If you plan to attend the meeting,please note that The University Club has a dresscode.Gentlemen are required to wear a jacket and ladies are required to wearbusiness attire.The University Club does not make exceptions.T

3、able of Contents Report to Unit Owners.2-3 Selected Financial Data.4 Description of Trust Assets.5 Managements Discussion and Analysis.6-9 Distributions and Trading.10 Auditors Report.11 Financial Statements.12-15 Notes to Financial Statements.16-18 Dollar Royalties-Western and Eastern Oldenburg.19

4、Note to Unit Owners(Removable).21-22 Ten Year History of Net Gas Sales.23 Net Gas Reserves(Estimated)and Volume of Net Gas Sales.24IMPORTANT TAX INFORMATIONFor your convenience the information necessary to prepareyour 2002 tax return is included in the removable“Note to Unit Owners”on Pages 21 and 2

5、2.Please note there will be no separate mailing of the tax letter.Report to Unit Owners:FOURTH QUARTER 2002Net income for the Trust for the fourth quarter of fiscal 2002 was$3,406,930,adecrease of 35.9%from the fourth quarter of fiscal 2001.At this level of royalties theTrust was able to pay a distr

6、ibution of 38 cents per unit.The combination of lower gasprices and reduced gas sales under both royalty rate agreements in effect within theOldenburg concession resulted in the sizeable decline in royalties paid to the Trust.Thehigher average value for the Euro moderated the impact of lower gas pri