DGAP-News

Activa Resources AG provides operational update and publishes Q1 Newsletter

DGAP-News: Activa Resources AG / Key word(s): Quarter Results
Activa Resources AG provides operational update and publishes Q1
Newsletter

26.03.2015 / 10:24

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Activa Resources AG provides operational update and publishes Q1 Newsletter

- 18 % oil production growth in 2014

- 28 % increase in proven reserves to 6.66 million BOE in 2014

- Value of proven reserves rises 13 % to USD 105 million

- Up to 100 % hedged in 2015

- Financial position strengthened with non-core acreage sale and further
bond placements

Bad Homburg, 26th March 2015. Activa Resources AG, an independent oil and
gas producer, reports today on its latest operational developments, details
of which can be found in its Q1 Newsletter.

Activa's net production of oil in 2014 increased 18 % to 70,925 BO (vs.
60,304 BO in 2013). The increase is primarily attributable to the sixth and
seventh horizontal wells at OSR-Halliday which went on line in April and
August 2014 respectively. Net production of natural gas declined 24 % to
24,988 BOE. Net production of natural gas liquids was unchanged at 5,244
BOE. Overall annual production therefore comprised 70% (61%) oil, 25% (34%)
natural gas and 5% (unchanged) natural gas liquids. Production shifted
therefore further to oil during 2014 as planned.

Activa achieved a significant increase in proven oil and natural gas
reserves in 2014. Total 1P reserves increased by 28 % to 6.66 million BOE
at January 1st, 2015 (vs. 5.19 million BOE one year prior). The increase in
both oil and natural gas reserves is primarily attributable to the drilling
successes at OSR-Halliday and Halls Bayou in addition to the booking of
additional up-dip natural gas reserves at Loma Field. The value of Activa's
proven reserves increased 13.7 % y-o-y from USD 92.9 million to USD 105.6
million (PV10) at January 1st, 2015.

Further to the previously announced bond redemptions in December 2014,
Activa strengthened its financial position in 2015 Q1 via two transactions.
USD 433,000 was raised from the sale of non-core acreage and approx. EUR 1
million of the Activa Resources AG 2013/2017 corporate bond was
successfully placed with investors.

While US oil prices might be bottoming out Activa is not expecting a swift