KEENE,
N.H., March 14, 2023 /PRNewswire/ -- Mr.
Robert P. Adelman, the Managing
Trustee of North European Oil Royalty Trust (the "Trust") (Symbol:
NRT), has advised the Trustees that he has decided to retire from
his position of Managing Trustee as of March
13, 2023 and as an active Trustee as of the end of the
current fiscal quarter of the Trust, April
30, 2023.
The remaining Trustees named Ms. Nancy
J. Floyd Prue, a Trustee since March
15, 2018, to fill the role of Managing Trustee beginning on
March 14, 2023. Ms.
Floyd Prue has been a member of the
Trust's Board of Trustees since March
2018. Ms. Floyd Prue has over
40 years of investment experience including 35 years with
Adams Funds. During her tenure with Adams Funds, Ms. Floyd
Prue served as President of Adams Natural Resources Fund and
as a portfolio manager focusing on the oil and gas
industry. As a result of serving in these roles and serving as
a member of our Audit Committee, Ms. Floyd
Prue has accumulated significant leadership and financial
reporting experience as well as extensive knowledge of the energy
industry. Ms. Floyd Prue is
currently a director and treasurer of the Keswick Multi-Care Board
and is member of the Board of Directors of the Keswick
Foundation. Ms. Floyd Prue is a
former President and a director of the National Association of
Petroleum Investment Analysts.
In reporting the resignation and appointment, John R. Van Kirk, the Trust's Managing Director,
said, "The Trustees accepted the resignation with regret,
recognizing the long years of leadership which Mr. Adelman had
provided to the Trust for the benefit of its owners. His
familiarity with the origins of the royalty rights held by the
Trust and his conduct of negotiations concerning those rights made
him uniquely qualified for the position of Managing Trustee.
He filled the position with expertise and diligence."
For further information, contact Mr. John R. Van Kirk, Managing Director, at (732)
741-4008, or via e-mail at jvankirk@neort.com. Website:
www.neort.com.
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content:https://www.prnewswire.com/news-releases/north-european-oil-royalty-trust-announces-the-retirement-of-the-managing-trustee-and-the-naming-of-his-successor-301771970.html
SOURCE North European Oil Royalty Trust