Mannheim.
Deutsche Rohstoff AG has placed further bonds (WKN A2AA05/ ISIN DE000A2AA055) with a total volume of approximately EUR 8 million to institutional investors. A total of EUR 67 million out of EUR 75 million that were initially projected are now issued. ICF BANK AG supported Deutsche Rohstoff with the placement.
The company intends to use the proceeds for further oil and gas wells in the US, in particular for its subsidiary Elster Oil & Gas. Elster Oil & Gas currently participates with a 24 % working interest in 20 two and two and a half mile wells. The wells have already been drilled and will be completed over the coming weeks. According to the operator, production is going to commence in early February 2018. The total investment volume for Elster will amount to approximately USD 28 million.
Mannheim, 3 November 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
