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Regulatory Filings • Jan 20, 2020
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Corporate | 20 January 2020 14:21
Deutsche Rohstoff AG: First oil in place estimate for Rhein Petroleum’s Steig discovery
DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
20.01.2020 / 14:21
The issuer is solely responsible for the content of this announcement.
Deutsche Rohstoff: First oil in place estimate for Rhein Petroleum’s Steig discovery
Mannheim. Tulip Oil, majority shareholder of Rhein Petroleum GmbH, today published a first estimate of how much oil the Steig field could contain according to internal calculations. According to this, the so-called Oil in Place, i.e. the amount of oil in the reservoir identified by last year’s test well, amounts to more than 114 million barrel of oil. The economically recoverable quantities will be estimated in the coming months as part of a reserve calculation.
The current estimate refers only to the upper part of the reservoir, which was explored by the Steig well. Further potential could arise in deeper layers that are productive elsewhere in the Rhine Graben.
Tulip Oil has also announced that the Steig field will be developed in several phases. In the first phase, production will start and at the same time the field will be further developed by means of horizontal drilling.
Mannheim, 20 January 2020
Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold, copper, rare earths, tungsten and tin complete the portfolio. Further information can be found at www.rohstoff.de
Contact
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Phone +49 621 490 817 0
20.01.2020 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.
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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: | Scale 30 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 957169 |
| End of News | DGAP News Service |