North European Oil Royalty Trust (NRT) 2005年年度报告「NYSE」.pdf

1、Annual Report 2005NorthEuropean OilRoyalty TrustATTENTION:PLEASE RETAINCRITICAL TAX INFORMATION ENCLOSEDTable of ContentsReport to Unit Owners .2-3Selected Financial Data .4Description of Trust Assets .5-6Managements Discussion and Analysis .6-10Critical Accounting Policies.11Distributions and Tradi

2、ng .12Report of Independent Registered Public Accounting Firm .13Financial Statements.14-17Notes to Financial Statements .18-20Disclosure Controls and Procedures .21Internal Control Over Financial Reporting.21-22Dollar Royalties-Western and Eastern Oldenburg .23Ten Year History of Net Gas Sales .24N

3、ote to Unit Owners(Removable).25-26Net Gas Reserves(Estimated)and Volume of Net Gas Sales .27The Annual Meeting of Unit Owners will be held on Thursday,February 9,2006,at 1:30 P.M.,inRooms 3 and 4,Ninth Floor,at the University Club,1 West 54th Street,New York City(northwest corner of 5th Avenue;entr

4、ance 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.1IMPORTANT

5、 TAX INFORMATIONFor your convenience the information necessary to prepareyour 2005 tax return is included in the removable“Note to Unit Owners”on Pages 25 and 26.Please note there will be no separate mailing of the tax letter.2NORTH EUROPEAN OIL ROYALTY TRUSTReport to Unit Owners:FOURTH QUARTER 2005

6、Net income for the Trust for the fourth quarter of fiscal 2005 was$4,030,630,an increase of36.0%from the fourth quarter of fiscal 2004.At this level of royalties the Trust was able to pay adistribution of 42 cents per unit,nine cents higher than the distribution for the fourth quarter of fiscal2004.