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Deutsche Rohstoff AG
Capital/Financing Update • Jun 22, 2017
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Capital/Financing Update
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Corporate | 22 June 2017 08:40
Deutsche Rohstoff AG: Cub Creek secures flexible credit facility
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
22.06.2017 / 08:40
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff: Cub Creek secures flexible credit facility
Mannheim/Denver. Cub Creek Energy signed a credit agreement with a leading US energy lender that enables the company to draw up to USD 25 million to fund its ongoing drilling program. The lender charges a flexible interest rate that currently aggregates to approximately 4% per annum. The facility will be redetermined from time to time based on the value of the company’s oil and gas reserves.
Cub Creek is currently preparing to complete seven wells that were drilled in April and May from its Hailey pad and is drilling 16 wells from its Litzenberger pad. The Management expects start of production from the Hailey pad in August and from the Litzenberger pad in early 2018.
Mannheim, 22 June 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
22.06.2017 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Q7, 24 | |
| 68161 Mannheim | |
| Germany | |
| Phone: | 0621 490 817 0 |
| Fax: | 0621 490 817 22 |
| E-mail: | [email protected] |
| Internet: | www.rohstoff.de |
| ISIN: | DE000A0XYG76, DE000A1R07G4, |
| WKN: | A0XYG7, A1R07G |
| Indices: | Entry Standard (Performance TOP 30) |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt |
| End of News | DGAP News Service |