Deutsche Rohstoff AG: Elster releases results from initial production
April 30, 2018 at 01:35 am EDT
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DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Elster releases results from initial production
30.04.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff: Elster releases results from initial production
Mannheim/Denver. Elster Oil & Gas (Elster) published today the production results for new wells which were drilled from mulitiple pads and commenced production in February and March. Elster's average working interest in these wells are approximately 35%. During the first 30 days of stable production Elster reached total net production of 7.493 barrels of oil equivalent per day (6.055 barrels of oil per day). The production comes from 25 wells with 1,5, 2 and 2,5-mile lateral lengths. Elster's production has not been hedged yet.
Cub Creek Energy (CCE), another US-subsidiary of Deutsche Rohstoff, had reported a few days ago that it started with the production of 16 additional horizontal wells. CCE owns an 86% working interest in these wells. The results of the first 30 days of stable production will be published by Deutsche Rohstoff in June.
Mannheim, 30 April 2017
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 621 490 817 0
info@rohstoff.de
30.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Deutsche Rohstoff AG is a Germany-based holding company. Its activities are diversified into three business segments. The Gold and Silver is engaged in extraction of those two materials mainly in Australia. Nevertheless, In September 2014, the Company sold all its shares in Wolfram Camp Mining and Tropical Metals. Moreover it also obtains silver in Germany, from which the Company makes coins. The Oil and Gas business segments is handled through its subsidiary Rhein Petroleum GmbH, Tekton Energy LLC and Salt Creek Oil & Gas LLC, and is focused on the exploration and production of oil and natural gas in Germany and the United States. The High-Tech Metals business segment is engaged in extraction and supply of materials used for production of LEDs (Light Emitting Diodes), flat panel displays, solar cells, hybrid cars and medical indispensable, such as indium, gallium, cobalt and tin. The Company operates subsidiaries in the United States, Australia, Germany and Canada.
DEUTSCHE ROHSTOFF AG 
