North European Oil Royalty Trust (NRT) 2015年年度报告「NYSE」.pdf

1、ATTENTION:PLEASE RETAINCRITICAL TAX INFORMATION ENCLOSEDNorth EuropeanOilRoyaltyTrustAnnual Report 2015The Annual Meeting of Unit Owners will be held on February 16,2016,at 10:00 A.M.,in Room 2,Ninth Floor,at the University Club,1 West 54thStreet,New York City(northwest corner of 5thAvenue;entrance

2、on 54thStreet).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.Men are required to wear a jacket and women are required to wear business attire.The University Club does not make exceptions.Table of ContentsReport

3、 to Unit Owners .1-3Ten Year History of Net Gas Sales .4Net Proved Producing Gas Reserves(Est.)andVolume of Net Gas Sales .5Gross Gas Sales .6Selected Financial Data .7Description of Trust Assets .8-9Managements Discussion and Analysis .9-17Dollar Royalties Western and Eastern Oldenburg .14Critical

4、Accounting Policies .18Distributions and Trading .19Comparison of Five Year Returns .20-21Report of Independent Registered Public Accounting Firm .23Financial Statements .24-27Notes to Financial Statements .28-30Disclosure Controls and Procedures .31Internal Control over Financial Reporting .31-3220

5、15 Tax Letter(Removable).33-36IMPORTANT TAX INFORMATIONFor your convenience,the information necessary to prepareyour 2015 tax return is included in the removable“2015 Tax Letter”on Pages 33 through 36.Please note that there will be no separate mailing of the tax letter.Report to Unit Owners:FOURTH Q

6、UARTER 2015Net income for the Trust for the fourth quarter of fiscal 2015 was$2,096,955,a decrease of42.67%from net income of$3,657,783 for the fourth quarter of fiscal 2014.The Trust receives nearlyall of its royalties under two royalty agreements.The Mobil Agreement,the higher royalty rate agreeme