North European Oil Royalty Trust (NRT) 2014年年度报告「NYSE」.pdf

1、Annual Report 2014 North European Oil Royalty Trust ATTENTION:PLEASE RETAIN CRITICAL TAX INFORMATION ENCLOSED The Annual Meeting of Unit Owners will be held on February 24,2015,at 10:00 A.M.,in Rooms 3 and 4,Ninth Floor,at the University Club,1 West 54th Street,New York City(northwest corner of 5th

2、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.Men are required to wear a jacket and women are required to wear business attire.The University Club does not make exceptions.Table

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

4、 Accounting Policies.18 Distributions and Trading.19-20 Comparison of Five Year Returns.20-21 Gross Gas Sales.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 Finan

5、cial Reporting.31-32 2014 Tax Letter(Removable).33-36 IMPORTANT TAX INFORMATION For your convenience,the information necessary to prepare your 2014 tax return is included in the removable“2014 Tax Letter”on Pages 33 through 36.Please note that there will be no separate mailing of the tax letter.NORT

6、H EUROPEAN OIL ROYALTY TRUST 1 Report to Unit Owners:FOURTH QUARTER 2014 Net income for the Trust for the fourth quarter of fiscal 2014 was$3,657,783,a decrease of 24.74%from net income of$4,860,365 for the fourth quarter of fiscal 2013.The Trust receives nearly all of its royalties under two royalt