Deutsche Rohstoff AG

Regulatory Filings • Dec 22, 2014

News Details

Corporate | 22 December 2014 09:38

Deutsche Rohstoff AG: Elster Oil & Gas prepares for the drilling of 9 Horizontal Wells in February, 2015

Deutsche Rohstoff AG / Key word(s): Miscellaneous

22.12.2014 09:38

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Deutsche Rohstoff: Elster Oil & Gas prepares for the drilling of 9
horizontal wells in February 2015

Heidelberg/Denver. Deutsche Rohstoff and the management of its US
subsidiary Elster Oil and Gas (EOG) are preparing for the drilling of 9
non-operated horizontal wells in the Magpie Project Area, Wattenberg Field,
DJ Basin of Colorado beginning mid February, of 2015. Net drilling capital
expenditures by EOG will total approximately USD 19 million based on
average
net WI of 44% in five 1.5 mile laterals and four 1.0 mile laterals.

Currently, the wells are anticipated to begin production in July, 2015 with
forecasted total gross reserve recovery of 4.5 million barrels of oil
equivalent. These 9 horizontal wells are the first of 49 horizontals
currently planned for development of the Magpie area.

Bob Gardner, CEO of EOG and Cub Creek Energy commented: "Elster's Magpie
Project Area is a low risk development opportunity in the Wattenberg Field
that offers the opportunity to yield positive financial results in the
current oil commodity pricing environment. These 9 horizontal wells
demonstrate the company strategy of developing economically robust projects
at lower oil prices."

Heidelberg, 22 December 2014

Deutsche Rohstoff (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 oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.

Contact:
Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de

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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)

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