Deutsche Rohstoff AG: Continued positive development Oil production above expectations/Strong results of securities portfolio Mannheim. At the end of the first half of the year, Deutsche Rohstoff AG provides an update on the development of its business: Oil and gas production in the USA continued to develop very positively. A total of about [...]
Deutsche Rohstoff Group generated net income of EUR 11.7 million in the first quarter. At EUR 17.9 million, sales were also up on the previous year. EBITDA jumped to EUR 21.3 million in the first quarter, more than double the previous year's figure. According to the final figures, the consolidated result is even slightly higher than provisionally [...]
As already reported in the context of the publication of the preliminary figures, the Deutsche Rohstoff Group achieved sales of EUR 38.7 million, EBITDA of EUR 23.9 million and a consolidated result of EUR -16.2 million in the difficult 2020 financial year. The Annual Report for the financial year 2020 of the Deutsche Rohstoff Group will be [...]
The equity and bond portfolio, which Deutsche Rohstoff AG built up in oil and gold stocks and bonds last year in response to the COVID crisis, continues to deliver very good results. In the first quarter of 2021 , realized gains amounted to EUR 8.2 million. Unrealized gains still existed in the amount of EUR 3.8 million. In the past few days, the [...]
The present value of the reserves of the US-subsidiaries of Deutsche Rohstoff AG amounts to USD 211.6 million based on the current forward curve as of 8 March 2021. Of this amount, USD 188.2 million relates to certain reserves and USD 23.4 million relates to probable reserves. As of 31 December 2020, the value was USD 128.8 million for the proven [...]
In the 2020 financial year, Deutsche Rohstoff Group generated sales of EUR 38.7 million, earnings before interest, taxes, depreciation and amortization of EUR 23.9 million and a consolidated loss of EUR 16.2 million. Sales, EBITDA and net income were thus in line with the increased forecast published in November. The consolidated loss was mainly [...]
Bright Rock Energy has continued to expand its acreage in 2020 to currently approximately 3,000 acres in Utah's prolific Uinta Basin through strategic acquisitions and the company's leasing program. The growth in land position along with increased well productivity and drilling density resulted in proved reserves of 1.9 million barrels of oil [...]
As of today, Cub Creek Energy begins drilling from the Knight pad, which is directly adjacent to the Olander pad to the west. Up to 12 horizontal wells with 2.25 miles horizontal length are planned. The wells are expected to begin production in the fourth quarter of 2021. Due to the difficult situation in the U.S. oil market in recent months and [...]
Deutsche Rohstoff AG provides an overview of developments in the Group, its subsidiaries and individual shareholdings. The US oil price WTI, which recently rose to over USD 50, represents an important component for the expansion and resumption of production and significantly increases the ability to plan further development of the US subsidiaries [...]
Deutsche Rohstoff AG: Almonty signs contract for project financing Mannheim. Almonty Industries announced that the Project Finance Agreement with KfW-IPEX Bank for the construction of the Korean Sangdong Mine was definitively signed today. The project financing has a volume of USD 75.1 million. The buyer of the tungsten concentrates, which is [...]
Bright Rock Energy has successfully completed the acquisition of extensive acreage in the US state of Wyoming. Following the signing of the purchase agreement on 6 June 2020, Bright Rock intensively reviewed all legal, technical and financial aspects of the property in recent weeks. The review did not reveal any findings that would have led to a [...]
The equity and bond portfolio which Deutsche Rohstoff AG has built up in response to the Corona crisis has developed positively so far. As of 30 June 2020, the portfolio's profit amounted to about EUR 7.4 million. So far, only a small part of the profits have been realized. As of 10 July 2020, the profit has increased further to EUR 8.2 million. Of [...]