DGAP-Adhoc: Deutsche Rohstoff AG: Cub Creek publishes strong production results

2017. február 07., kedd, 21:41





DGAP-Ad-hoc: Deutsche Rohstoff AG / Key word(s): Miscellaneous


Deutsche Rohstoff AG: Cub Creek publishes strong production results


07-Feb-2017 / 21:41 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.



Deutsche Rohstoff: Cub Creek publishes strong production results
4,113 boepd at Markham pad/Overall 240.000 boe produced in January

Mannheim/Denver. Cub Creek Energy (CCE) published today that 12 wells
drilled on the company"s Markham pad in the DJ basin produced 4,113 barrel
of oil equivalent (boe) per day (3,473 barrel of oil) during the initial 30
days of production. Production has stabilized over this period. However,
Cub Creek expects even higher production rates over the coming weeks since
some operational problems have been solved in the meantime. The company had
completed the 12 wells in the 4th quarter of 2016. Average working interest
of Cub Creek amounts to 74%.

Cub Creek"s overall production reached 240,000 boe (192,000 barrel of oil)
in January, 2017. Net revenue for January will amount to approx. USD 7
million, average oil price received was USD 52.61 per Barrel for January,
2017.

Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: "We are very pleased
with the initial production of the Markham wells. Production rates came in
greater than 30% above our expectations and are still rising. Together with
the very successful Vail pad wells Cub Creek produced more than 7,700 boe
per day in January. This is a remarkable success for a young company like
Cub Creek and proves once again the high quality of the management team."

The two other US Oil and Gas subsidiaries of Deutsche Rohstoff, Elster Oil
& Gas and Salt Creek Oil and Gas, produced in excess of 1,000 boepd per day
in January. Further production data for all three company"s production will
be published for the first quarter.

Mannheim, 7 February 2017

Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.

Contact:

Deutsche Rohstoff AG

Thomas Gutschlag, CEO

Tel. +49 621 490 817 0

info@rohstoff.de









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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: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt





 
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542643  07-Feb-2017 CET/CEST






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