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    DGAP-News  846  0 Kommentare Deutsche Rohstoff boosts activities in the US Oil and Gas industry


    DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
    Deutsche Rohstoff boosts activities in the US Oil and Gas industry

    15.06.2015 / 08:46

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    Deutsche Rohstoff boosts activities in the US Oil and Gas industry
    New company with former Tekton Energy Team/Strong Performance of existing
    Cub Creek und Elster Oil & Gas

    Heidelberg/Denver. Deutsche Rohstoff will further intensify its activities
    in the US oil and gas market. Jerry Sommer and Earl Norris, founders of
    Tekton Energy, are part of a management team that has established a new oil
    and gas company called Salt Creek Oil & Gas, LLC, based in Denver,
    Colorado. Deutsche Rohstoff will own the majority of the company's shares.
    Salt Creek Oil & Gas will focus on opportunities in the US oil and gas
    market, especially those arising from the recent downturn in the market
    caused by lower oil prices and the improving fundamentals of US natural
    gas. Salt Creek will initially focus outside the Wattenberg field in
    Colorado.

    Tim Sulser will serve as CEO of Salt Creek Oil & Gas. Tim is a very
    experienced petroleum engineer who has been working in the US oil and gas
    industry over the last 15 years. He joins Salt Creek after having managed
    oil and gas transactions for the specialized energy investment bank Tudor
    Pickering & Holt Co. for the last 5 years, including advising on the
    successful and timely sale of Tekton Energy, which resulted in cash
    proceeds of USD 200 million.

    Jerry Sommer, Chairman of Salt Creek Oil & Gas, said: "We are very excited
    to commence a new venture with the two founding members that started Tekton
    in 2011. Tim's skills and experience ideally complements the team."

    Tim Sulser, CEO of Salt Creek Oil & Gas, commented: "I am looking forward
    to working with the team to build a successful oil and gas company. There
    will be numerous opportunities to create significant value over the next
    years. Now is the right time to invest in the US oil and gas market."

    During the past twelve months Deutsche Rohstoff's currently existing oil
    and gas subsidiaries have developed excellently. Only one year after
    foundation of Cub Creek Energy, LLC by the operational members of the
    Tekton Energy team the company has secured approximately 2,200 highly
    prospective acres in the core area of oil development in the Wattenberg
    field in Colorado. Elster Oil & Gas, LLC (formerly known as Tekton Energy,
    LLC) is participating in the Magpie project, located in the same area. A
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    DGAP-News Deutsche Rohstoff boosts activities in the US Oil and Gas industry DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous Deutsche Rohstoff boosts activities in the US Oil and Gas industry 15.06.2015 / 08:46 --------------------------------------------------------------------- Deutsche Rohstoff boosts …

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