North European Oil Royalty Trust Q1 net income surges 2,003% to $2.35M

NORTH EUROPEAN OIL ROYALTY TRUST

Total royalty income $2.55M, +798% YoY, driven by higher gas prices and sales.
Net income $2.35M, up from $112K; distribution declared $0.25/unit vs $0.04 YoY.
Mobil gas prices +156%, sales +27% vs Q1 2021; exchange rate -7%.
Trust expenses rose 13.6% to $195K due to timing of German accountant audit and fees.
$0.25/unit distribution payable Feb 23, 2022 to holders of record Feb 11, 2022.

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