Detail akcie North Europe Oil online

Business Summary: North European Oil Royalty Trust (the Trust) is a grantor trust which, on behalf of the owners of units of beneficial interest in the Trust (the unit owners), holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The 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. Its royalties are received for sales of gas well gas, oil well gas, crude oil, condensate and sulfur. The Trust conducts no active business operations and is restricted to collection of income from royalty rights and distribution to unit owners of the net income after payment of administrative and related expenses.
Financial Summary: BRIEF: For the three months ended 31 January 2024, North European Oil Royalty Trust revenues decreased 96% to $425K. Net income decreased 98% to $179K. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Interest income decrease of 67% to $7K (income). Basic Earnings per Share excluding Extraordinary Items decreased from $1.04 to $0.02.