Salt Creek Oil & Gas closed the sale of the majority of its assets in North Dakota. The signing of the transaction was published on 26 April. Buyer is Northern Oil and Gas. The originally announced sales proceeds of USD 59.6 million have increased approximately by USD 4 million due to a rise of Northern's share price over the last six weeks. As [...]
Almonty Industries, in which Deutsche Rohstoff holds a 13.5% stake, published their second quarter financials of the 2017/2018 financial year today. Revenue increased to CAD 17.3 million in the second quarter, which corresponds to an increase of 61% compared to the first quarter. In the first half of the financial year 2017/2018, sales increased by [...]
Deutsche Rohstoff AG: Good start into the year 2018 Nearly 500,000 BOE production in the 1st quarter/Strong growth in revenue and EBITDA expected Mannheim. Deutsche Rohstoff Group generated revenues of EUR 15.6 million in the first quarter of 2018 and earnings before interest, taxes, depreciation and amortization of 10.6 EUR million . The [...]
Deutsche Rohstoff: Elster releases results from initial production Mannheim/Denver. Elster Oil & Gas published today the production results for new wells which were drilled from mulitiple pads and commenced production in February and March. Elster's average working interest in these wells are approximately 35%. During the first 30 days of stable [...]
Cub Creek Energy will commence producing oil and gas from its Litzenberger pad as of this weekend. The company had drilled 16 horizontal wells last summer. The wells were completed over the last few weeks. Deutsche Rohstoff will report about the production of the first 30 days in June. Mannheim, 20 April 2018 Deutsche Rohstoff identifies, develops [...]
Deutsche Rohstoff hereby announces the successful issue of a convertible bond with a term that runs until March 2023 and a total nominal amount of EUR 10 million. The convertible bonds can initially be converted into 357,142 new or existing ordinary Deutsche Rohstoff registered shares. This corresponds to approx. 7% of the Company's issued share [...]
The present value of the NYMEX reserves of Salt Creek Energy amounts to USD 83.9 million as of 31 Dec 2017. Reserve value has therefore grown by 66% reflecting the positive development and well performance of Salt Creek Oil & Gas during 2017. Proved reserves have grown by 141% to 75.0 million USD , probable reserves stand at 8.9 million USD . All [...]
Almonty Industries has announced that it has signed an off-take-agreement with an existing customer for a part of the future production of its wholly owned Sangdong mine. The agreement has a term of 10 years and guarantees revenues for Almonty of at least 500,000,000 CAD while it doesn't cap the price on the upside. Further details and the full [...]
The present value of the reserves of Cub Creek Energy and Elster Oil & Gas amounted to USD 169 million as of 31 December 2017 for proved reserves and USD 28 million for probable reserves. Therefore, proved reserves have increased and probable reserves have been significantly reduced. Proved reserves have increased to 17.5 million barrels of oil [...]
Elster Oil & Gas, in which Deutsche Rohstoff holds a 93% stake, has announced that the majority of the new horizontal wells in the Magpie area have started to produce oil and gas on February, 10th. The remaining wells are scheduled to commence production on March, 6th. The operator informed EOG accordingly. There are a total of 28 wells with [...]
Elster Oil and Gas has significantly increased its interest in the near term producing wells in the Magpie area. The overall project consists of 25 one and a half, two and two and a half- mile lateral wells. EOG will hold an average 34% working interest and therefore an equivalent of 17 net 1-mile lateral wells instead of 11 net wells expected so [...]
Deutsche Rohstoff: Tin International receives further tin-lithium exploration license in Saxony, Germany Mannheim/Leipzig. The Upper Mining Authority of Saxony has granted Tin International a new exploration license in the Eastern Ore Mountains of Saxony, Germany. The license covers an area of 15km2 around the Hegelshöhe hillside and is [...]
