Deutsche Rohstoff AG

As announced earlier this year, Cub Creek Energy has started an extensive drilling program on the company's sites in Colorado. The program consists of 11 2-mile horizontal wells from the Olander drilling site. The costs are expected to amount to USD 60 million, of which Cub Creek will bear most. Cub Creek holds a 93% interest in these wells. Production of oil and gas is expected to begin in early 2020. With an average oil [...]

The development of the Sangdong Mine in South Korea, 100% owned by Almonty Industries Inc., is progressing. The company has now announced, that it has signed a contract with the South Korean utility company KEPCO for the construction of an exclusive 10 MW line to supply the mine and processing facilities. The cost of USD 1.7 million for the power line will be fully covered by KEPCO under an industrial development program [...]

Rhein Petroleum GmbH, in which Deutsche Rohstoff AG holds a 10% stake, is expected to commence drilling Steig-1 near the Baden town of Weingarten, a few kilometres north of Karlsruhe, on 27 May. The wells objective is to provide information as to whether there are quantities of crude oil worth producing at a depth of around 900 metres. The Heidelberg-based company has planned a maximum of four weeks for the well, which is [...]

Following a very good performance in 2018, Deutsche Rohstoff Group has also made a good start to the new financial year. The first quarter was characterized by the following developments: Production amounted to 566,000 barrels of oil equivalent or 6,300 boe per day. The oil content was 253,000 barrels. Consolidated net income increased significantly to EUR 4.1 million compared to the first quarter of the previous year [...]

Bright Rock Energy has completed the purchase of additional mineral acreage and minority working interest in the Uinta Basin, Utah. The purchase price amounts to USD 2.0 million for 300 net acres. Production on the acquired acreage is currently around 30 barrel oil equivalent per day. In total, Bright Rock produces 100 BOE per day and holds a position of over 1,000 net acres within the core of the basin, where horizontal [...]

Cub Creek Energy plans to commence an extensive drilling program on the company's Colorado acreage in June 2019. It will consist of 11 2-mile horizontal wells from the Olander pad and represent an investment of approximately USD 60 million. Cub Creek's working interest is approximately 93%. Oil and gas production is expected to commence in early 2020. With an average oil price of USD 54 per barrel over the life of the [...]

In fiscal year 2018, the Deutsche Rohstoff Group generated sales of EUR 109.1 million and earnings before interest, taxes, depreciation and amortization of EUR 96.6 million. Sales were thus at the upper end of the November forecast of EUR 100 to 110 million. The EBITDA, which the Management Board had expected in November at around EUR 90 million, was again exceeded. According to preliminary figures, the consolidated [...]

The proved reserves of the US subsidiaries of Deutsche Rohstoff AG rose to 29.4 million barrels of oil equivalent as of 31 December 2018, while the probable reserves declined to 3.4 million BOE. The present value of the reserves amounted to USD 177 million as of 31 December 2018 for the proved reserves and USD 9 million for the probable reserves. The value of the reserves has risen less sharply than the volume of [...]

Deutsche Rohstoff AG: Tin International sells Gottesberg license to Anglo Saxony Mining Total consideration of 50.000 EUR in cash and 2 million Anglo Saxony Mining shares Mannheim/Leipzig. Tin International AG sells 100% interest in its Gottesberg license in the Saxon Vogtland to Anglo Saxony Mining Limited . ASM is a private company based in London which, in addition to tin projects in England, is primarily developing [...]

Salt Creek Oil & Gas has successfully completed two acquisitions with an investment volume of USD 5.4 million. The company acquired a total of 300 mineral acres in the core area of the Williston Basin in North Dakota. These royalties currently account for around 220 barrels of production per day. Additional drilling locations are expected to be developed in the coming years, which would entitle Salt Creek to further [...]