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RNS - Deutsche Rohstoff AG Co-founds Tekton Energy LLC

Company: Deutsche Rohstoff AG Date: 2011-01-24 Language: English Register to download

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 News Details

Corporate | 24 January 2011 09:29

#   

Deutsche Rohstoff AG Co-founds Tekton Energy LLC

Deutsche Rohstoff AG / Key word(s): Miscellaneous

24.01.2011 / 09:29

Deutsche Rohstoff AG Co-founds Tekton Energy LLC

New venture with focus on breakthrough innovations in oil and gas industry

Denver-Heidelberg. Deutsche Rohstoff AG, through its 100% subsidiary
Deutsche Rohstoff USA Inc., invested in and co-founded Tekton Energy LLC,
an E&P company based in Denver, Colorado, USA. Tekton's focus will be to
acquire, exploit and operate oil and gas properties in North America and
Europe utilizing a skilled team of veteran industry professionals and
recent technical innovations. Deutsche Rohstoff will be the majority equity
owner (57%) and a significant capital provider for this new venture.

Mr. Jerry Sommer, formerly President of Source Energy LLC and Chief
Operating Officer of Aspect Energy, and Mr. Earl Norris, formerly Geology
Lead at Vantage Energy and Exploration Manager at Aspect Abundant Shale
founded Tekton Energy with Deutsche Rohstoff. Together, they hold the
remaining 43% of the company. Mr. Sommer, CEO of Tekton Energy and Mr.
Norris, VP of Exploration have decades of oil and gas experience which
includes numerous successful projects in North America and Europe.

Dr. Titus Gebel, President and CEO of Deutsche Rohstoff AG, commented: 'The
last 15 years have changed the oil and gas industry dramatically. New
exploration and production technologies have led to a paradigm shift. Jerry
Sommer and Earl Norris are eminent specialists in these fields with an
excellent track record. The founding of Tekton with such experts is a big
step forward for the oil and gas branch of Deutsche Rohstoff AG.'

Mr. Jerry Sommer: 'I'm honored to be partnered with  Titus Gebel and Thomas
Gutschlag at Deutsche Rohstoff. Earl and I are excited to launch Tekton
Energy with such quality partners. Tekton is an ancient Greek word used to
describe 'one who understands their craft completely and uses that
knowledge to create works of excellence'. The goal of our company is to
combine the many skills of my associates with key breakthrough innovations
to create exceptional value for all our investors.'

Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil/gas and so called high
tech metals such as indium, gallium, rare earth metals, cobalt. All
projects are located in countries marked by political stability, the core
area being Germany. The business concept is based on redeveloping deposits
which have been well explored in the past. First Production started in
January 2011. For more information please visit www.rohstoff.de.

Tekton Energy LLC (Denver, Colorado, USA) is a newly formed Delaware LLC
focused on USA and Europe oil and gas opportunities that benefit from
technology leverage.


Heidelberg, 24 January 2011


Contact:

Dr. Thomas Gutschlag
Deutsche Rohstoff AG
+49 6221 652 4730
gutschlag@rohstoff.de

Mr. Jerry Sommer
Tekton EnergyLLC
Tel: +1 303 249 5010
Sommer.Jerry@gmail.com


End of Corporate News

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24.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
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109751 24.01.2011

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