Deutsche Rohstoff Ag: Tekton Energy leases additional 1.900 acres in north-western Wattenberg
03.05.2013 | DGAP
Deutsche Rohstoff AG: Tekton Energy leases additional 1.900 acres in
north-western Wattenberg
Both recently drilled horizontal wells producing
Denver/Heidelberg. Tekton Energy (www.tektonenergy.com) reported today that
it leased an additional 1.900 acres, boosting Tekton's total acreage
position in the prospective north-western part of the Wattenberg field to
approximately 4.200 acres. The new leases are located north of Tekton's
Windsor project area. Tekton acquired this acreage through its area of
mutual interest with Extraction Oil and Gas. The two companies were
successful bidders for 3.800 acres in March. Under an agreement signed
earlier this year, each company takes on half of new leases.
In addition, both Horizontal wells Tekton drilled in March are now
producing. The second well was fraced last weekend and started flowing from
Sunday on. The first two wells are part of Tekton's overall plan to develop
the full potential of its acreage. Tekton expects to drill up to 80
gross/60 net horizontal wells on its leases. As of today, over 60 of these
wells have been permitted through State and local authorities. Comparable
horizontal wells are reported to define reserves of 325,000 to 350,000
Barrels of Oil Equivalent each.
Heidelberg, 3 May 2013
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 oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in countries marked by political stability. 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:
Thomas Gutschlag
gutschlag@rohstoff.de
+49 6221 871 000
End of Corporate News
Unternehmen: Deutsche Rohstoff AG - ISIN: DE000A0XYG76
north-western Wattenberg
Both recently drilled horizontal wells producing
Denver/Heidelberg. Tekton Energy (www.tektonenergy.com) reported today that
it leased an additional 1.900 acres, boosting Tekton's total acreage
position in the prospective north-western part of the Wattenberg field to
approximately 4.200 acres. The new leases are located north of Tekton's
Windsor project area. Tekton acquired this acreage through its area of
mutual interest with Extraction Oil and Gas. The two companies were
successful bidders for 3.800 acres in March. Under an agreement signed
earlier this year, each company takes on half of new leases.
In addition, both Horizontal wells Tekton drilled in March are now
producing. The second well was fraced last weekend and started flowing from
Sunday on. The first two wells are part of Tekton's overall plan to develop
the full potential of its acreage. Tekton expects to drill up to 80
gross/60 net horizontal wells on its leases. As of today, over 60 of these
wells have been permitted through State and local authorities. Comparable
horizontal wells are reported to define reserves of 325,000 to 350,000
Barrels of Oil Equivalent each.
Heidelberg, 3 May 2013
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 oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in countries marked by political stability. 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:
Thomas Gutschlag
gutschlag@rohstoff.de
+49 6221 871 000
End of Corporate News
Unternehmen: Deutsche Rohstoff AG - ISIN: DE000A0XYG76