North European Oil Royalty Trust (NRT) 2012年年度报告「NYSE」.pdf

1、Annual Report 2012NorthEuropean OilRoyalty TrustATTENTION:PLEASE RETAINCRITICAL TAX INFORMATION ENCLOSED1The Annual Meeting of Unit Owners will be held on February 12,2013,at 10:30 A.M.,in Rooms 3 and 4,Ninth Floor,at the University Club,1 West 54th Street,New York City(northwest corner of 5th Avenu

2、e;entrance on 54th Street).All unit owners are cordially invited to attend.If you plan to attend the meeting,please note that The University Club has a dress code.Gentlemen are required to wear a jacket and ladies are required to wear business attire.The University Club does not make exceptions.Tabl

3、e of Contents Report to Unit Owners .2-4 Ten Year History of Net Gas Sales .5 Net Proved Producing Gas Reserves(Est.)and Volume of Net Gas Sales .6 Selected Financial Data .7 Description of Trust Assets .8-9 Managements Discussion and Analysis .9-17 Critical Accounting Policies .17 Distributions and

4、 Trading .19-20 Comparison of Five Year Returns .20-21 Dollar Royalties Western and Eastern Oldenburg .22 Report of Independent Registered Public Accounting Firm .23 Financial Statements .24-27 Notes to Financial Statements .28-30 Disclosure Controls and Procedures .31 Internal Control Over Financia

5、l Reporting .31-32 2012 Tax Letter(Removable).33-36IMPORTANT TAX INFORMATIONFor your convenience,the information necessary to prepareyour 2012 tax return is included in the removable“2012 tax letter”on Pages 33 through 36.Please note that there will be no separate mailing of the tax letter.2NORTH EU

6、ROPEAN OIL ROYALTY TRUSTReport to Unit Owners:FOURTH QUARTER 2012 Net income for the Trust for the fourth quarter of fiscal 2012 was$4,679,489,a decrease of 20.23%from net income of$5,866,147 for the fourth quarter of fiscal 2011.The decline in income was the result of lower gas prices,reduced gas s