Deutsche Rohstoff AG

The new oil and gas subsidiary Bright Rock Energy, which was founded in July 2018, has already achieved its first acquisition success after only a few weeks. For USD 2.5 million Bright Rock purchased a total of 4,601 net acres in the Uinta Basin in the US state of Utah. Current daily production is 66 barrels of oil equivalent, with reserves of around 150,000 BOE. There is significant upside for further production on the [...]

Tin International AG has successfully completed the sale of the Hegelshöhe and Sadisdorf licenses to its former joint venture partner Lithium Australia NL. The Upper Mining Authority of Saxony approved the transfer of the licenses from Tin International AG to Trilithium Erzgebirge GmbH, a wholly owned subsidiary of Lithium Australia NL. Tin International AG receives EUR 0.5 million in cash and approx. 21.3 million [...]

Deutsche Rohstoff has founded Bright Rock Energy LLC, a new oil and gas company based in Denver Colorado, USA. The company is managed by a team with extensive experience, particularly in the oil and gas fields in the Rocky Mountain region. Bright Rock Energy will acquire and develop undervalued oil and gas properties. The current focus is on the states of North Dakota, Wyoming and Utah. The new company's CEO will be [...]

Cub Creek Energy today published the production results for new wells which commenced production from the company's Litzenberger pad at the end of April. During the first 30 days of stable production the pad produced 5.632 barrels of oil equivalent per day or 352 BOEPD per well, thereof 4.704 barrels of oil per day or 294 BOPD per well. The production comes from 16 wells with one mile lateral length. CCE's average working [...]

Tin International sells Sadisdorf and Hegelshöhe licenses to Joint Venture partner Lithium Australia Total consideration amounts to EUR 2 million Mannheim/Leipzig/Perth. Tin International AG sells 100% interest in its Sadisdorf and Hegelshöhe licenses in the eastern part of the German Ore Mountains to the current Joint Venture partner Lithium Australia NL . The total consideration amounts to EUR 2 million of [...]

Salt Creek Oil & Gas closed the sale of the majority of its assets in North Dakota. The signing of the transaction was published on 26 April. Buyer is Northern Oil and Gas. The originally announced sales proceeds of USD 59.6 million have increased approximately by USD 4 million due to a rise of Northern's share price over the last six weeks. As part of the consideration, the buyer had agreed to pay 6 million of its shares [...]

Almonty Industries, in which Deutsche Rohstoff holds a 13.5% stake, published their second quarter financials of the 2017/2018 financial year today. Revenue increased to CAD 17.3 million in the second quarter, which corresponds to an increase of 61% compared to the first quarter. In the first half of the financial year 2017/2018, sales increased by 63% to CAD 28.1 million. Earnings before interest, taxes, depreciation and [...]

Deutsche Rohstoff AG: Good start into the year 2018 Nearly 500,000 BOE production in the 1st quarter/Strong growth in revenue and EBITDA expected Mannheim. Deutsche Rohstoff Group generated revenues of EUR 15.6 million in the first quarter of 2018 and earnings before interest, taxes, depreciation and amortization of 10.6 EUR million . The consolidated net income reached EUR 1.1 million . The decline compared to the first [...]

Deutsche Rohstoff: Elster releases results from initial production Mannheim/Denver. Elster Oil & Gas 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 [...]

Cub Creek Energy will commence producing oil and gas from its Litzenberger pad as of this weekend. The company had drilled 16 horizontal wells last summer. The wells were completed over the last few weeks. Deutsche Rohstoff will report about the production of the first 30 days in June. Mannheim, 20 April 2018 Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and [...]