DGAP-News

Deutsche Rohstoff AG: Cub Creek Energy acquires further acreage position within the Wattenberg Field

Deutsche Rohstoff AG / Key word(s): Miscellaneous

23.03.2015 07:30

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Deutsche Rohstoff: Cub Creek Energy acquires further acreage position
within the Wattenberg Field
2.000 net acres/Up to 50 horizontal wells possible

Heidelberg/Denver. Cub Creek Energy (CCE), oil and gas subsidiary of
Deutsche Rohstoff AG, has entered into a Joint Development Agreement with a
private oil and gas producer within the core area of the Wattenberg field
in Colorado. The prospective area is approximately 2,000 acres and Cub
Creek Energy will be the designated operator of the project.

The size of these newly acquired leases corresponds to the portion of the
area successfully sold in May 2014, which Deutsche Rohstoff's subsidiary
Tekton Energy previously developed with several wells.

The management of Cub Creek forecasts the possibility to drill up to 50
horizontal wells within the next three years in this new area. Cub Creek
will begin the well permitting process immediately which will eventually
define the precise number of wells possible for execution. In January, Cub
Creek acquired leases near this new acreage position, where up to 12
horizontal wells are being prepared at the moment. Cub Creek will develop
all of these areas as the operator.

Thomas Gutschlag, CEO of Deutsche Rohstoff, said: "With this acquisition as
well as the areas of our second US-subsidiary, Elster Oil and Gas, we have
an equally attractive portfolio as the former Tekton Energy. Thanks to
lower oil prices we were able to secure all these areas under favorable
business terms."

Due to its technical studies, the management of CCE expects these areas to
be economically attractive from a WTI oil price of about USD 40. The
management also assumes a significant reduction in drilling costs due to
the sharp decrease of oil prices.

In the Magpie project area, Elster Oil and Gas will participate in five
wells as a 50% non-operator that will begin operations in April 2015. These
wells are currently forecast for production in September 2015. The pace of
development and production availability of these wells is subject to change
based on the oil price environment.

Cub Creek Energy, based in Denver/Colorado, was founded as successor of
Tekton Energy in June 2014. Deutsche Rohstoff currently holds a stake of
74%. Tekton Energy (now Elster Oil and Gas), which was founded by Deutsche
Rohstoff in 2011, sold their main assets in the same field, only a few
miles further north, for USD 200 million in May 2014. Elster still holds
about 50% interest in an area called Magpie (approximately 700 acres),
which is also located close to the newly acquired area.

Heidelberg, 23 March 2015

Deutsche Rohstoff (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 political stable countries with high environmental standards.
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:
Deutsche Rohstoff AG
Dr. Thomas Gutschlag
Tel. [phone]
[e-mail]


23.03.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------

Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart;
Open Market (Entry Standard) in Frankfurt

End of Announcement DGAP News-Service

---------------------------------------------------------------------------