North European Oil Royalty Trust (NRT) 2009年年度报告「NYSE」.pdf

1、Annual Report 2009NorthEuropean OilRoyalty TrustATTENTION:PLEASE RETAINCRITICAL TAX INFORMATION ENCLOSED1The Annual Meeting of Unit Owners will be held on Wednesday,February 17,2010,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

2、 5th 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 excep

3、tions.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 Dollar Royalties-Western and Eastern Oldenburg .8 Description of Trust Assets .9-10 Managements Discussion and Analy

4、sis.10-17 Critical Accounting Policies .17 Distributions and Trading.17-18 Comparison of Five Year Returns.19 Report of Independent Registered Public Accounting Firm .20 Financial Statements.21-24 Notes to Financial Statements .25-28 Disclosure Controls and Procedures.29 Internal Control Over Financ

5、ial Reporting.29-30 2009 Tax Letter(Removable).31-32IMPORTANT TAX INFORMATIONFor your convenience,the information necessary to prepareyour 2009 tax return is included in the removable“2009 Tax Letter”on pages 31 and 32.Please note that there will be no separate mailing of the tax letter.2NORTH EUROP

6、EAN OIL ROYALTY TRUSTReport to Unit Owners:FOURTH QUARTER 2009NetincomefortheTrustforthefourthquarteroffiscal2009was$3,486,314,adeclineof62.95%fromnetincomeof$9,409,548forthefourthquarteroffiscal2008.Significantlyloweraverage gas prices and moderately lower gas sales resulted in the decline in royal