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Deutsche Rohstoff AG: Five horizontal wells of Elster Oil & Gas begin production

DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Five horizontal wells of Elster Oil & Gas begin
production

22.09.2015 / 09:06

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Deutsche Rohstoff AG: Five horizontal wells of Elster Oil & Gas begin
production

Heidelberg/Denver. Elster Oil & Gas, a 93% subsidiary of Deutsche Rohstoff
AG, returned to its historical producing status with five horizontal wells
on the company's Magpie acreage in the Wattenberg Field, DJ Basin entering
production yesterday. Elster owns on average 39% of the wells. Extraction
Oil & Gas, a Denver based company, operates the wells.

The wells were drilled during the summer and were completed at the
beginning of August 2015. Over the past weeks surface facilities have been
installed and commissioned for production. Elster is planning to publish
the initial production results after the first month of production.

Deutsche Rohstoff USA will be able to utilize tax credits that have been
created during the Tekton Energy transaction. These tax credits will amount
an approximate 20% discount to the well cost. In addition, development
costs have dropped significantly over the past months as service providers
have become increasingly efficient. This allows Elster to achieve a
positive return on capital invested at an oil price of USD 40 per barrel.

Elster holds approximately 800 net acres of the "Magpie" project area.
Elster partner Extraction Oil & Gas is planning to drill up to 57 further
horizontal wells on the acreage.

Heidelberg, 22 September 2015

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
Tel. [phone]
[e-mail]




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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 News DGAP News Service
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396503 22.09.2015