North European Oil Royalty Trust (NRT) 2010年年度报告「NYSE」.pdf

1、Annual Report 2010NorthEuropean OilRoyalty TrustATTENTION:PLEASE RETAINCRITICAL TAX INFORMATION ENCLOSED1The Annual Meeting of Unit Owners will be held on Tuesday,February 15,2011,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 5

2、th Avenue;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 excepti

3、ons.Table 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 .17-18 Distri

4、butions and Trading .18-19 Comparison of Five Year Returns .19-20 Report of Independent Registered Public Accounting Firm .21 Financial Statements .22-25 Notes to Financial Statements .26-28 Disclosure Controls and Procedures .29 Internal Control Over Financial Reporting .29-30 2010 Tax Letter(Remov

5、able).31-32 Dollar Royalties Western and Eastern Oldenburg .33IMPORTANT TAX INFORMATIONFor your convenience,the information necessary to prepareyour 2010 tax return is included in the removable“2010 tax letter”on Pages 31 and 32.Please note that there will be no separate mailing of the tax letter.2N

6、ORTH EUROPEAN OIL ROYALTY TRUSTReport to Unit Owners:FOURTH QUARTER 2010 Net income for the Trust for the fourth quarter of fiscal 2010 was$5,168,831,an increase of 48.26%from net income of$3,486,314 for the fourth quarter of fiscal 2009.Significantly higher gas prices offset both lower gas sales an