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Profile: North European Oil Royalty Trust (NRT.N)

NRT.N on New York Stock Exchange

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3 May 2016
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North European Oil Royalty Trust (the Trust), incorporated on May 6, 1957, is a grantor trust, which on behalf of the owners of beneficial interest in the Trust, holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The Trust's rights are held under contracts with local German exploration and development subsidiaries of ExxonMobil Corp. (ExxonMobil) and the Royal Dutch/Shell Group of Companies (Royal Dutch/Shell Group). Under these contracts, the Trust receives various percentage royalties on the proceeds of the sales of certain products from the areas involved. The royalties are received for sales of gas well gas, oil well gas, crude oil, distillate and sulfur. Neither the Trust nor the Trustees on behalf of the Trust conduct any active business activities or operations. The function of the Trustees is to monitor, verify, collect, hold, invest and distribute the royalty payments made to the Trust. Under the Trust Agreement, the Trustees make quarterly distributions of the net funds received by the Trust on behalf of the unit owners.

The properties of the Trust, which the Trust and Trustees hold pursuant to the Trust Agreement on behalf of the unit owners, are overriding royalty rights on sales of gas, sulfur and oil under certain concessions or leases in the Federal Republic of Germany. The actual leases or concessions are held either by Mobil Erdgas-Erdol GmbH (Mobil Erdgas), a German operating subsidiary of ExxonMobil, or by Oldenburgische Erdolgesellschaft (OEG). As a result of direct and indirect ownership, ExxonMobil owns two-thirds of OEG and the Royal Dutch/Shell Group owns one-third of OEG. The Oldenburg concession (approximately 1,386,000 acres), covering virtually the entire former Grand Duchy of Oldenburg and located in the German federal state of Lower Saxony, provides approximately 100% of the royalties received by the Trust.

The Trust, under one set of rights covering the western part of the Oldenburg concession (approximately 662,000 acres), receives a royalty payment of approximately 4% on gross receipts from sales by Mobil Erdgas of gas well gas, oil well gas, crude oil and condensate (the Mobil Agreement). The Trust is also entitled under the Mobil Agreement to receive approximately 2% royalty on gross receipts of sales of sulfur obtained as a by-product of sour gas produced from the western part of Oldenburg. Under another set of rights covering the entire Oldenburg concession and pursuant to the agreement with OEG, the Trust receives royalties at the rate of approximately 0.67% on gross receipts from sales by BEB Erdgas und Erdol GmbH (BEB) of gas well gas, oil well gas, crude oil, condensate and sulfur (removed during the processing of sour gas), less a certain allowed deduction of costs (the OEG Agreement). In addition to the Oldenburg area, the Trust also holds overriding royalties at various rates on various non-producing leases of various sizes in other areas of Germany

Company Address

North European Oil Royalty Trust

43 W Front St Ste 19-A,
PO Box 456
RED BANK   NJ   07701-1600
P: +1732.7414008

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